These are unprecedented times in our economy. We continue to track the evolving landscape of financial programs offered to small businesses disrupted by the coronavirus (COVID-19).  The U.S. Small Business Administration (“SBA”) is offering loans through additional funding provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act recently signed by President Donald Trump.   SBA Disaster Loans as a Tool for...

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An economic downturn is a phase of the business cycle in which the economy is in decline. This phase basically marks the end of the period of growth in the business cycle. Economic downturns are characterized by decreased levels of consumer purchases (especially of durable goods) and, subsequently, reduced levels of production by businesses. While economic downturns are admittedly difficult and are formidable obstacles to small...

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Florida businesses often hold real property and their business operations in separate entities for liability purposes. While this is a very standard and effective way to mitigate the liability risk of owning commercial real estate, these types of structures need to be mindful of the sales tax rules. Usually rental agreements are put in place between the operating entity (Lessee) and the real estate entity (Lessor) with rent either...

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Last Minute Tax Changes

Last Minute Tax Changes


Posted By on Dec 31, 2019

While many people were busy with the holidays preparations, on December 20th President Trump signed into law the Further Consolidated Appropriations Act (H.R. 1865), which included several bills. The 715 pages included two major tax bills – the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) and the Taxpayer Certainty and Disaster Tax Relief Act (the “Disaster Act”, for short) of 2019. The Disaster Act Note that...

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The Opportunity Zone (OZ) Program was created as part of the Investing in Opportunity Act, which was included in the Tax Cuts and Jobs Act enacted in December 2017. The OZ program was created to encourage private investment in these communities in exchange for capital gain tax incentives. The goal is to use the estimated $6.1 trillion of unrealized private gains held by U.S. households. In exchange for investing in communities in...

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