Many tax changes have been implemented in 2020 that will affect businesses. These were designed to assist businesses and/or their owners with improved cash flow through loans, credits, and increased deductions. This article examines many of these provisions that are of interest to financial service professionals to help with planning for 2021 and making the best decisions regarding 2020 taxes.
Author: Anthony P. Curatola, PhD, is the Joseph F. Ford Professor of Accounting and Tax at Drexel University in Philadelphia. He is the editor of the monthly tax column appearing in Strategic Finance.
Author: J. William Harden, PhD, CPA, ChFC,is an associate professor of accounting in the Bryan School of Business and Economics at UNC—Greensboro. He researches and consults in the areas of taxation and financial planning for small businesses and individuals.
Author: James W. Rinier, CPA, EA,is an assistant clinical professor of accounting at Drexel University in Philadelphia. He teaches and researches accounting and taxation.
Author: David R. Upton, PhD, is an associate professor of accounting in the Bryan School of Business and Economics at UNC—Greensboro. He researches and teaches in the area of accounting decision-making and control within organizations.
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