The controversy over the deductibility of payroll expenses by Paycheck Protection Program (PPP) loan recipients has finally been settled, less than a week before the end of the year. The Consolidated Appropriations Act, 2021, signed into law Dec. 27, 2020, allows deductibility of … [+] payroll expenses by Paycheck Protection Program loan recipients. getty Deductibility
Month: December 2020
With the Consolidated Appropriations Act, 2021 (the Act) finally signed into law, we can start to take a deep dive into the more impactful changes found within the 5,500-page piece of spending and stimulus legislation. We may have jumped the gun a bit in publishing Part 1 of this two-part series on the expanded Employee
For many organizations trading in goods, the run-up to 31 December 2020 involved hasty preparations for the end of the Brexit transitional period and the start, from 1 January 2021, of the UK’s new international trading relationships. This article highlights some areas that can be focused on in 2021 to improve import taxes positions. Taking
getty The Roth IRA is one of the most powerful tax and retirement planning tools available, yet it is misunderstood and often misused. Many financial advisors have labeled 2020 as the best time to convert all or part of an IRA. Income taxes, and the cost of converting an IRA, might never be lower in
Economic Security Planning, Inc. Today’s column addresses questions about potential effects on Social Security benefit amounts of not returning to work before filing, when to file to receive the full 32% increase from delayed retirement credits and when it is and is not possible to file for spousal benefits only. Larry Kotlikoff is a Professor
Most of us could use some good news these days, so here is a little. Two highly controversial tax bills pending in California appear to have died on the vine, at least for now. Technically, with the legislative session ending in the Golden State, they would need to be re-introduced to face a vote and
The IRS just released its annual report (FY 2020) on the tax whistleblower program. Unfortunately, the award numbers are a significant change from just two years ago – where the IRS reported a ten-fold increase in whistleblower awards to $312 million for FY 2018. For FY 2020 – the amount of (pre-sequestration) awards to whistleblowers was markedly
getty Congress may still be debating the size of additional checks, but Treasury is already taking action to deliver a second round of Economic Impact Payments (EIPs, or stimulus checks). This second round of checks is part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, passed by Congress last week and signed
Founder, CEO of Blue Lake Capital LLC. Helps passive investors grow wealth through real estate. Podcast Host: REady2Scale. getty The worldwide pandemic continues to create serious problems with the economy, impacting almost every type of business imaginable. That certainly includes real estate investing, as it has forced owners, operators and investors to pause and re-assess their
CEO and Co-Founder of Green Generation, which engineers and implements comprehensive integrated energy efficiency solutions. getty The outgoing executive administration’s lasting impact on the natural environment, clean energy landscape and transition to a decarbonized, climate-aligned U.S. economy is palpable — with the equivalent of 1.8 billion metric tons of CO2 added by 2035, a figure nearly
Raleigh, N.C. is among the secondary markets experiencing growing interest from foreign real estate … [+] investors. Universal Images Group via Getty Images For years, the nation’s big coastal cities captured most of the interest from foreign real estate investors. But in this pandemic year, that appears to have changed. Berkadia’s Joint Venture Equity and
CEO of The P3 Group Inc., overseeing the development of public facilities and urban redevelopment through public-private partnerships. getty Public-private partnerships offer a unique opportunity to redevelop and revitalize smaller communities around the country. A public-private partnership, also known as a P3 or PPP, is an agreement between a private company and a public body that
The main house at Neverland JIM BARTSCH Five years ago Michael Jackson’s Neverland Ranch went on the market for $100 million but couldn’t find a buyer willing to take on the purchase. It changed brokerages a few times, along with massive price reductions going to $67 million, then $31 million, and then being taken off
Designed for French-British politician Sir James Goldsmith, the bright-yello home overlooks the … [+] Costa Careyes enclave between Puerto Vallarta and Manazanillo. Hilton & Hyland Imagine having a front seat on the sunrise—every day. Set above the ocean like a sunlit citadel, Sol De Oriente combines privacy and resort living in the Mexican state of
If Los Angeles’ housing market has shown us anything this year, it’s that luxury real estate is on track for big things in 2021. In the Flats section of Beverly Hills, a sprawling estate with a mansion and a private train park has sold for $31.4 million — one of the priciest transactions in the
After a bruising year for the airline industry, Hawaiian Airlines CEO Peter Ingram told CNBC he believes it’s only up from here. Airlines spent much of 2020 cutting routes and reducing flights due to the decline in travel demand from the coronavirus pandemic, but companies including Delta and United Airlines have announced some new additions
Snow falls as people wearing face masks walk through the Asakusa district on March 29, 2020 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images SINGAPORE — As 2020 draws to a close, many investors consider Asia as the region with one of the best economic prospects next year thanks to its relatively better control of
A visitor tries a plant-based meat substitute product at the Restaurant & Bar and Gourmet Asia expo at the Hong Kong Convention and Exhibition centre in Hong Kong on November 11, 2020. Peter Parks | AFP | Getty Images SINGAPORE — Demand for meat alternatives has grown and will continue to rise, but the industry
Jamie Foxx voices Joe Gardner in Disney Pixar’s “Soul.” Disney The entertainment industry has been rocked by the coronavirus pandemic. Big blockbusters that were slated to arrive in theaters in 2020 have, for the most part, been pushed to 2021 and those that haven’t have been used to pad major studios’ streaming services. With Covid
A view of signage leading to one of the testing centers at Heathrow Airport on December 22, 2020 in London, England. Joseph Okpako | Getty Images News | Getty Images The United States will begin requiring people flying in from the U.K. to test negative for Covid-19 no more than 72 hours before departure, the
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