Self-Employed Taxpayers: CARES Act and FFCRA Relief
Calculating PPP Loan Forgiveness, NOL Carrybacks, Family Leave Credits
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will cover recent relief provided under the CARES Act and Families First Coronavirus Response Act (FFCRA) and its application to taxpayers filing Form Schedule C, Profit or Loss from Business. This program is for tax professionals advising and preparing returns for self-employed taxpayers, including SMLLCs, owner-employees, gig-workers, and independent contractors.
Outline
- PPP loan forgiveness
- Family Leave Credit
- Payroll tax deferrals
- Postponement of critical deadlines
- Net operating losses
- Other benefits
Benefits
The panel will cover these and other key issues:
- Who qualifies for PPP loans and how to best support loan forgiveness
- Who qualifies for the $200 and $511 daily family leave credits?
- When should a taxpayer elect to forego a net operating loss carryback?
- How is the 50% social security tax deferral repaid?
Faculty
Jason B. Freeman, J.D., CPA
Founder and Managing Member
Freeman Law
Mr. Freeman is a dual-credentialed attorney-CPA, author, law professor, and trial attorney. He represents clients in... | Read More
Mr. Freeman is a dual-credentialed attorney-CPA, author, law professor, and trial attorney. He represents clients in litigation and disputes, with a particular focus on federal and state tax controversies. Mr. Freeman handles IRS audits and other investigations and represents clients facing tax and white-collar or financial-related charges. He also advises and assists clients with tax and regulatory compliance, including domestic and international tax planning and regulatory reporting requirements. He serves on the law school faculty at SMU’s Dedman School of Law, where he teaches a course in the law of federal income taxation, and he is a frequent public speaker across the country, presenting and educating on various legal topics.
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David L. Killion, CPA, CEPA®
Principal
Brown Smith Wallace
Mr. Killion practices in the firm’s Transaction Advisory and Litigation Support Services Group. He has more than... | Read More
Mr. Killion practices in the firm’s Transaction Advisory and Litigation Support Services Group. He has more than 15 years of experience in strategic, analytical and financial roles. Mr. Killion’s experience includes managing and executing acquisitions, advising on tax-efficient structuring and compliance, and monitoring equity investments. He has also been responsible for day-to-day CFO functions including debt structuring, bank compliance, financial reporting and treasury management.
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Michael C. Stravin, CPA, MST
Principal
Wolf & Company
Mr. Stravin serves as an engagement officer in the firm’s Commercial Tax Group where he is responsible for... | Read More
Mr. Stravin serves as an engagement officer in the firm’s Commercial Tax Group where he is responsible for directing tax services on behalf of the firm’s investment advisor and private investment fund practice. He is also responsible for managing a team of professionals to ensure that all tax services are tailored to the individual needs of his clients. Additionally, Mr. Stravin is the head of Wolf’s Investment Advisors and Funds Niche. He has nearly 20 years of experience providing proactive planning and timely compliance services to entrepreneurial driven businesses in a variety of industries including manufacturing, distribution, technology, and professional services.
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