Happy New Year! While no one seems too sad to see the back of 2020, there is much to tackle as we head into 2021. Though more COVID-19 federal economic relief is still expected, measures passed at the end of 2020 and subsequent guidance have provided individuals and businesses with some assistance. Meanwhile, we are entering tax…
In light of the novel coronavirus (COVID-19) pandemic, many businesses are interested in donating to charity. In order to incentivize charitable giving, the Coronavirus Aid, Relief and Economic Security (CARES) Act made some liberalizations to the rules governing charitable deductions. Here are two changes that affect businesses: The limit on charitable deductions for corporations has…
