From the issuance of the Internal Revenue Service’s Priority Guidance Plan to new COVID-19 relief legislation, we have seen some significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted a few noteworthy developments and analyzed how they may impact your estate planning and business law practice.
WealthCounsel Staff
Recent Posts
Current Developments in Estate Planning and Business Law: January 2021
By WealthCounsel Staff on Jan 15, 2021 10:00:00 AM
The COVID-19 Relief Bill: What Business Owners Need to Know Heading into 2021
By WealthCounsel Staff on Jan 8, 2021 10:15:40 AM
On December 27, 2020, President Trump signed into law H.R. 133, the Consolidated Appropriations Act, 2021 (the Act). Included among the Act’s nearly 5,600 pages are provisions related to COVID-19 pandemic relief. Key tax provisions include: (1) Paycheck Protection Program (PPP) updates, including the allowance of deductions for qualified expenses paid for with PPP loan proceeds that are subsequently forgiven, the extension of the program, the introduction of “second draw” PPP loans, and the expansion of eligible expenses for which PPP loan proceeds can be spent; (2) the extension of paid sick and family leave and family credits for wages paid through March 31, 2021; and (3) the extension of the employee retention credit under the Coronavirus Aid, Relief, and Economic Security (CARES) Act through June 30, 2021.
Give Your Practice a Gift For The Holidays
By WealthCounsel Staff on Dec 25, 2020 10:00:00 AM
A membership to WealthCounsel is the best gift you could give to your practice (and yourself!). WealthCounsel has everything you need to build and run a thriving estate planning or business law practice.