2020 Tax Planning Paradox
THE 2020 TAX PLANNING PARADOX – ACCELERATE INCOME TO LOWER YOUR TOTAL TAX LIABILITY As 2020 winds down, it’s time to consider year-end planning.
October 15, 2020
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See our Coronavirus Updates page for developing information on deadlines for the 2019 and 2020 tax years.
For businesses and individuals, this schedule answers the question, "how long should I keep this?"
THE 2020 TAX PLANNING PARADOX – ACCELERATE INCOME TO LOWER YOUR TOTAL TAX LIABILITY As 2020 winds down, it’s time to consider year-end planning.
Managing cash flow is an ongoing priority for any business. Protecting an organization’s cash flow in times of economic distress is paramount. To retain liquidity in the short term, many organizations are examining their retirement plans for flexibility in cash outflows.
On August 28, 2020, the IRS issued Notice 2020-65 that provides some needed guidance for employers wondering whether and how to comply with the employee payroll tax deferral described in the August 8, 2020 Presidential memorandum (often referred to as an “executive order.”). Even though the Notice leaves many questions unanswered, it addresses some key items.
With COVID-19 and the resulting financial crisis, the Qualified Opportunity Zone program is a valuable tool for purposes of revitalizing distressed communities. Some state plans have already utilized the infrastructure of the program for their own investment incentive programs.
SKR+CO ranked #306 in 2020, up from #323 in 2019. Four Colorado-based firms made the top 400 list.
Stockman Kast Ryan + Co, LLP (SKR+CO), the largest locally-owned certified public accounting firm in Southern Colorado, welcomes Brian Tunnelle, CPA (CA) as the tenth