global Tax Year End Tax Moves for Businesses December 14, 2020 You’ll want to download our 2020 Year End Tax Planning Guide for Businesses, which contains helpful information regarding the election impact, SECURE act changes and more. The ongoing COVID-19 pandemic and the 2020 elections bring uncertainty in terms of tax planning, but there are opportunities for businesses to plan ahead. Our 2020 Year-End Tax Planning Guide for Businesses covers everything you need to know as we head into 2021. For now, here’s a sneak peek. What’s inside our tax guide? Big changes impacting businesses include enhanced incentives for employers to help people save for retirement (under the SECURE Act)Extended tax breaks under the Taxpayer Certainty and Disaster Relief Act include empowerment zone tax incentives, new markets credit and more.CARES Act provides financial relief for businesses struggling during the pandemic including a retention tax credit and paycheck protection program (PPP)Thinking about buying or selling? M&A deals should be timed and structured to minimize taxes.Did you suffer a net operating loss (NOL)? You could qualify for a refund opportunity under the CARES ActThinking about buying equipment before year end? Section 179 deductions and bonus depreciation could come in handyFor 2020, businesses that offer paid family and medical leave may qualify for a credit of up to 25% of wages paid during leave.Interested in learning more about smart year-end tax moves? Download our 2020 Year-End Tax Planning Guide for Businesses. Questions? Reach out to our team.
