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MNCPA Tax Conference

C Sessions

Monday, November 16,
10:35 - 11:50 a.m.

C1. Dealing With Losses: The Planning Issues

Speaker(s): Edward Zollars
NASBA field of study: Taxes - Technical (1.5)

Congress liberalized some loss rules temporarily with the Coronavirus Aid, Relief and Economic Security (CARES) Act, including those related to excess business losses under Section 461(l) and net operating losses (NOLs). Gain guidance on how to plan around these and other loss issues. Explore NOL computation issues and elections available for post-CARES-Act NOLs. Learn about excess business losses, the temporary delay with the implementation of this rule and the return of this limitation in 2021. Come away with planning guidance on the proper use of capital losses, rebalancing portfolios and more.

C2. Federal Business Tax Highlights: Keeping Up With COVID-19 Business Tax Changes

Speaker(s): Paul Neiffer
NASBA field of study: Taxes - Technical (1.5)

COVID-19 sparked major business tax law developments in a short period of time. Take a step back and review the major changes to ensure you're up to date. Learn how to take advantage of the important business tax changes brought about by the Coronavirus Aid, Relief and Economic Security (CARES) Act and other COVID-19 stimulus measures. Explore opportunities related to net operating loss (NOL) provisions, business interest limitation adjustments, various incentive tax credits and Paycheck Protection Program (PPP) loan forgiveness. See how all these changes affect business tax returns and learn how you may need to shift your planning strategies in response to these new developments.