In this week's blog, Dario Arezzo explains some of the provisions detailed in the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, passed by Congress on December 21 and signed into law by the president on December 27.
One of the major questions for tax planning season has been whether expenses paid with a Paycheck Protection Program loan that is forgiven will be deductible. Senior Tax Consultant Dario Arezzo discusses possible examples and outcomes.
2020 is shaping up to be one of the most interesting tax years in a long time. Between USDA payments, PPP funds and everything in between, it will be critical for farmers to stay up to date on projected year-end numbers to avoid an unpleasant tax surprise. Dario Arezzo illustrates the importance of situational awareness this tax year.