Cheryl Finkelstein, Director, joined the Howard County Chamber of Commerce’s virtual Ask the Experts series for a presentation on how small businesses could take advantage of tax breaks included in pandemic-related legislation.
With many of the provisions in 2017’s Tax Cuts and Jobs Act being rolled back, as well as new possibilities for tax savings, small business owners have a lot to consider when it comes to navigating the Paycheck Protection Program, employee retention credit, modification of net operating loss rules, and more.
In addition to offering advice and clarity on these, Cheryl explained the variety of individual tax provisions in the CARES Act, as well as Maryland’s “decoupling” – exempting relevant parts of the state tax code from changes in the Federal code.
“My goal was to give each participant an idea they could take back to their advisor or planner — or give them something to think about when it comes to successfully navigating the pandemic tax season,” says Cheryl.
Thanks to the Howard County Chamber of Commerce for hosting and to all who participated in this insightful session.