One major benefit of an S Corporation for owners is that it provides limited liability protection regardless of tax status. Brian Jankowsky, counsel at Schiff Hardin and Olga Bogush, partner at Schiff Hardin, sat down with Wilmington Trust’s Chief Wealth Strategist Alvina Lo, to review other advantages of an S corporation and what you should consider before making an election.Download Transcript >Please see important disclosures at the end of the video.
Actionable insights to help you get the most from CARES Act tax relief efforts.The passage of the CARES Act brings much needed tax relief to individuals, families and businesses.Personal income tax provisions include financial relief measures, charitable giving incentives, and access to cash flow.Business tax provisions have been enacted to allow businesses to obtain liquidity and maintain working cash flow to retain and pay employees.
Key tax relief measures designed to provide critical cash flow for businesses. The CARES Act provides many potential sources of tax relief for businesses, particularly to help maintain operations and continue payroll for employees.Businesses may benefit from these tax relief measures to relieve pressure now and, where appropriate, by amending prior tax returns and claiming refunds.