These days, there are challenges at every turn. But that means there are opportunities abound, too. Today we’re going to talk about turning lemons into lemonade… at least, from a tax planning perspective. It’s no longer business as usual.

Things are constantly changing, especially with the CARES Act and other legislation related to coronavirus. And, at the same time, businesses are strapped for cash. But none of these challenges should get in the way of tax planning for your business. In fact, tax planning is now more important than ever.

Cindy Kula joins the show to share how COVID-19 may impact your tax liability, break down some of the new legislation to come out of this situation, and teach you how to minimize your tax liability.

Listen to this episode of unsuitable to learn:

• What economic challenges most businesses will face in the latter half of 2020
• What you need to know about the Tax Act and CARES Act during the coronavirus economy
• The key to minimizing your tax burden and maximizing your Qualified Business Income Deduction

Learn more about this topic:

• Rea’s COVID-19 Resource Center
• Read: “COVID-19 Is Accelerating The Rise Of The Digital Economy”
• Read: “Searching for a Tax Exempt Organization?”

If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast.