Covid-19 Management Resources

Tuesday, March 30 | Webinar | 11 a.m. – Noon CT Register Now | Please register by March 29, 2021. Leadership is critical to the success of any team, from the top naval aviators to organizations across industries. Join us for this complimentary webinar featuring retired U.S. Navy Commander Guy Snodgrass and CLA’s CEO Emeritus Denny Schleper as they share…

By Julie Rubelowski Marketing Director CLA T. 414.721.7560 Email On Demand Webinar HostingSpeaking Event materials Presentation Slides: Economic Relief for Nonprofits and Associations – PPP, ERC and More Recording: Economic Relief for Nonprofits and Associations – PPP, ERC and More The webinar discusses economic relief programs available to hard-hit nonprofits. In this session, we will cover new…

By Michael De Prima and Steven Lange and Caleb Solley Principal CLA Contact Key insights The IRS issued final regulations under Section 1061 that provide much-needed clarity on carried interests. The required holding period for carried interests to achieve long-term capital gain tax rates has been expanded from one to three years. Partners may only…

By Sada Kempf, Marketing Director CLA T. 920.232.2230 Email Recorded 3/2/2021 On Demand Webinar Hosting Event materials Presentation Slides: Navigating Your Problem Loan Management Program Impacted by COVID-19 Recording: Navigating Your Problem Loan Management Program Impacted by COVID-19 New problems presented by the COVID-19 pandemic require financial institutions to consider an updated approach to problem loan management. This on-demand webinar…

By Stan Babicz Principal CLA T. 414.721.7631 Email Key insights The Energy Efficient Commercial Buildings Deduction (Section 179D) was made a permanent component of the Internal Revenue Code by the Consolidated Appropriations Act, 2021. Section 179D deductions are now indexed for inflation for taxable years beginning after 2020. Baseline standards were raised to the most recently…

By Jennifer Rohen Principal CLA T. 310.930.1780 Email Key insights New legislation brought changes to the employee retention credit, including updates to the quarterly comparison dates you can use to qualify. Certain S corporation owners may claim the credit for their own wages, but there are restrictions. Review the interplay of ERC, PPP loans, Families…

By Paul Neiffer Principal CLA T. 509.823.2920 Email If you know you filed your 2019 income tax return but the IRS has recently sent you a CP59 notice stating they need a copy of your return since they have not received it; you should likely ignore the notice. The IRS has confirmed that they have…

By Melissa Laban Principal CLA T. 571.227.9526 Email Key insights Debt cancelation amounts are generally included in gross income. This may come as a surprise to unsuspecting borrowers. Fortunately, Congress has provided some exceptions and special provisions to address taxpayer concerns with COVID-related debt relief. Under the Consolidated Appropriations Act 2021 (CAA 2021), Congress provided both financial assistance…

By Paul Neiffer Principal CLA Walla Walla Washington Email T. 509.823.2920 A few times a year I appear on the Farm Journal Signal to Noise Friday broadcast and I had my latest turn this last Friday. We led off the broadcast with the Biden Tax Plan and how it might affect farmers.  We will likely…

By Matt Gaieski Signing Director CLA Email Key insights For most borrowers, the loan amount is determined by the average monthly payroll for either 2019 or 2020, multiplied by 2.5, with a maximum loan size of $2 million. Self-employed individuals, seasonal employers, farmers and ranchers, partnerships, and certain hospitality and food services organizations must use…