What interested our readers most in 2020? Deciphering qualified vs. unqualified dividends tops the list, followed closely by calculating your PPP loan forgiveness, tax-savvy ways to donate to charity and more. Take a look at our most read blogs.

1. Deciphering Qualified vs. Nonqualified Dividends- The way in which dividends are treated for tax purposes plays a central role in an investor’s ROI. There are two types of ordinary dividends: qualified and nonqualified. The most significant difference between the two is that nonqualified dividends are taxed at ordinary income rates, while qualified dividends receive more favorable tax treatment by being taxed at capital gains rates. Learn more about the differences between qualified and nonqualified.
2. Affordable Care Act (ACA): Protective Refund Claim- Earlier in 2020, the US Supreme Court found the ACA’s minimum essential coverage provision to be unconstitutional. That finding also raises the question about whether the entire Act is unconstitutional, including the taxes created to fund the provisions of the law, specifically the 3.8% Net Investment Income Tax and the .9% Additional Medicare Tax. Impacted taxpayers had until July 15, 2020 to claim a refund. It is currently unclear whether these taxes will be repealed and for which years. Here, we share the details.
3. What are the Rules for Charitable Contributions of Inventory?- Wondering if you can donate excess inventory to a good cause? The Internal Revenue Code allows a company to get a charitable contribution deduction for donations of inventory, and the Coronavirus Aid, Relief and Economic Security (CARES) Act enhances this deduction for contributions made during calendar year 2020…see if you qualify.
4. Advantages and Disadvantages of Selling to Chinese State-Owned Enterprises - State-owned Enterprises (SOEs) can help international sellers quickly reach a large and stable customer base in China, however, working with a SOE can be much harder than selling to private enterprises. With over 40 years in existence SOEs have a long established history in China going through a long process of gradual and progressive transformations. Here’s what you need to know before selling.
5. PPP: 3 Steps to Calculate Your Loan Forgiveness Amount – So, what do you do once you receive your Paycheck Protection Program (PPP) loan proceeds? Here’s the three step loan forgiveness calculation. Also, don’t forget to check out our other PPP blogs at our PPP Headquarters.
6. Paycheck Protection Program (PPP) Loans: What to do After You Have Applied - So you have hit “send” on your Paycheck Protection Program, or PPP loan application and the bank has told you the money is on the way, so now what’s next? Once you have that application in, there are a few things you need to do.
7. Is it better to Donate Stock or Cash to Charity? Want to help a charity but not sure if you should give shares of stock or just cash? It depends on a few things...including your income.
8. 2020 Standard Mileage Rates Released Every year the IRS announces the standard mileage rates, which are used for determining the deduction for the costs of operating a vehicle for various business, charitable, moving or medical reasons. Check out the 2021 rates here: https://kahnlitwin.com/blogs/tax-blog/2021-standard-mileage-rates-released
9. How does the CARES Act Impact Net Operating Losses? Did you know if you have a tax loss during calendar years 2018, 2019, or 2020 from business activity that resulted in an overall net operating loss (NOL), the Coronavirus Aid, Relief and Economic Security (CARES) Act modifies the carryback rules? These were previously restricted under tax reform. Here’s what your business should know.
10. Paycheck Protection Program FAQs- As mentioned above, The PPP or paycheck protection program is part of the federal response to the COVID-19 crisis. Here are answers to some of the most confusing questions regarding determining the amount of loan you are eligible for and rationale for our positions.

Stay tuned for more updates regarding the PPP, CARES Act, recent election impact and more. Note that some of the information reflected in these 2020 blogs may have changed. Reach out to us if you have any questions.