Showing 2 posts by Julian A. Fortuna.
Tax Deductions for COVID-19 Losses
The COVID-19 disaster has caused significant financial losses for many businesses and their owners. Whether a business is owned by a sole proprietor, or by a Limited Liability Company, Partnership, or S Corporation treated as pass-through entity for income tax purposes, or by an entity taxable as a C Corporation, there are opportunities for the business and/or its owner(s) to use current year business and investment losses to obtain refunds of taxes paid in prior years.
Continue reading Tax Deductions for COVID-19 Losses ›
Paycheck Protection Program Loan Forgiveness and Tax Deductions
On April 30, 2020, the IRS announced in Notice 2020-32 (the Notice), its position regarding the disallowance of certain otherwise allowable tax deductions for a borrower (taxpayer) that is forgiven repayment of a Paycheck Protection Program (PPP) loan. While the notice is apparently contrary to the intent of Congress and not entitled to judicial deference because it was issued without prior notice and comment, the IRS nevertheless will attempt to enforce it.
Continue reading Paycheck Protection Program Loan Forgiveness and Tax Deductions ›
Stay Connected
Topics
- Privacy
- Risk Management
- Childcare Centers
- Mental Health
- Family and Medical Leave Act
- Financial Ideas
- Coronavirus
- Reopening
- Construction
- Data Privacy
- Corporate and Business
- Employee Accomodation
- Mandated Reporter Laws
- Current Events
- Adverse Childhood Experiences
- Child Abuse Registry
- Depositions
- Staff Training
- Child Protection Policies
- Protection Policies
- Internal Investigations
- Speaking Engagement
- Risk Avoidance
- Charities
- Child Abuse
- Criminal Law
- Mental Health Research
- Public Policy
- Schools
- Resilience
- Employment Issues
- Zero Tolerance
- Bullying
- Over-Protection
- Therapy
- Child Witness
- Day Care
- Expert Witness
- Humor
- Illness
- Litigation (Discovery)
- Mandated Reporter
- Media
- Miscellaneous
- Negligence
- Personal Injury
- Presentations
- Youth Camps
Contributors
- Teresa E. Adams
- Deborah A. Ausburn
- James Balli
- Scott G. Blews
- Stephanie Ford Capezzuto
- Hannah M. Clapp
- Alisa P. Cleek
- Jonathan D. Crumly Sr.
- Manori de Silva
- Bill Dillon
- Joseph M. English
- Glianny Fagundo
- Raanon Gal
- Randy C. Gepp
- Shawntel R. Hebert
- Katie Heron
- Mitzi L. Hill
- Bryan F. Jacoutot
- Donald S. Kohla
- Lauren Parsons Langham
- Kevin P. Langley
- Catrina Markwalter
- Lauren Marlow
- Jan G. Marsh
- LaTise Miller
- Christina L. Moore
- Allen W. Nelson
- Reginald L. Snyder
- Michele L. Stumpe
- Joseph C. Sullivan