Webinar series aimed at maximizing cash flow, presented by McGuire Sponsel
McGuire Sponsel has spoken with clients and heard the challenges ahead for businesses as a result of COVID-19. While we understand the health implications of the pandemic, we know the potential for devastating financial impacts on business owners. While our firm remains strong, the team understands the “gut punch” feeling many owners have experienced in the past few weeks.
Planning for many has shifted from growth to ensuring support for employees. The tax filing and payment deadline extension to July 15, 2020, gives taxpayers more time to explore strategies that reduce their tax liability to maintain liquidity. With this change, McGuire Sponsel is moving our summer continuing education webinar series to April. Our goal is to provide technical guidance as you walk clients through this unprecedented time. Included below is a description of each upcoming webinar aimed at maximizing cash flow in the current environment.
Other firms may offer similar services, but they cannot match McGuire Sponsel’s steadfast commitment to our clients and partner CPA firms.
TJ Sponsel II, Managing Shareholder
Qualifications of 179D & 45L and How to Claim the Benefit
Is the client an architect, designer or energy consultant who has contributed technical input to the design of a governmental facility in the past three years? Has the client built their own facility that is in excess of 30,000 square feet? Please join Justin Gephart as he explains the qualifications of 179D & 45L and how the benefit can be claimed retroactively.
Host: Justin Gephart, Shareholder
Do you answer "yes" to any of our questions related to the R&D Tax Credit?
Is the taxpayer creating a product or process that is new to them but they do not believe the R&D Tax Credit applies? Has the client explored the R&D Tax Credit in the past but felt the benefit wasn’t worth the investment of time and resources? Is the client currently taking advantage of the R&D Tax Credit but is unsure if it is being maximized or is frustrated by the amount of fees they are paying?
If you or your client answers “yes” to any of these questions, please join TJ Sponsel to learn what qualifies for the R&D Tax Credit, how the benefit impacts the taxpayer and how McGuire Sponsel approaches a project.
Host: TJ Sponsel II, Co-Founder and Managing Shareholder
How to Bring Cash Flow to the Forefront of an Investment
Recent laws such as the Tax Cuts and Jobs Act have made cost segregation more valuable than ever. Combined with the desire to maximize cash flow from the 2019 tax return, cost segregation has become even more important to many taxpayers. Do you have a taxpayer who has bought, renovated or built a facility since 2000? Or has a client pushed back on a cost segregation study, saying “it’s just a timing issue.” Please join David McGuire to learn about the strategies that can be used to bring cash flow to the forefront of an investment.
Host: Dave McGuire, Co-Founder and Shareholder
April 29: Handling NOL Carrybacks and other Technical Issues Related to the CARES Act
The CARES Act updated many parts of the tax code including allowing for temporary 5-year NOL Carrybacks, as well as changes to Qualified Improvement Property. We will answer administrative questions regarding Revenue Procedures 2020-22, 2020-23, and 2020-25 as well as issues related to these changes. In this webinar we will discuss these changes and the tax planning opportunities they create including: details behind each Revenue Procedure, how to utilize changes to maximize cash flow, and tax planning opportunities. Dave will also cover updates to the CARES Act, including increased funding for businesses.
Host: Dave McGuire
Date: Wednesday, April 29th
April 23: Significance of Planning for Future Jobs, Building Expansions, Relocations and Capital Investments
So your client’s growth and hiring plans have stalled as a result of the uncertain economic outlook. What should taxpayers be aware of now to plan for an economic recovery? Join Ben Worrell as he illustrates the significance of planning for future job growth, building expansions, relocations, and new capital investments.
Host: Ben Worrell, Credits & Incentives Consultant
Date: Thursday, April 23rd
April 22: Managing Global Tax & Treasury in an Uncertain Economy, Co-Hosted by Duff & Phelps' Patrick McColgan
The increasing impact of COVID-19 on the global economy has created an international business environment unlike any we have ever seen. This volatility puts significant pressure on the international tax and treasury management posture of a multinational enterprise.
Please join McGuire Sponsel’s Sean King and Duff & Phelps’ Patrick McColgan for a unique and practical discussion on issues that tax and treasury teams can take this quarter ranging from currency fluctuations and repatriation planning to transfer pricing, group loss allocation, intercompany lending and the impact of mobility restrictions on the global workforce.
Hosts: Sean King & Patrick McColgan of Duff & Phelps
April 14: Are you using effective international tax strategies?
Is the taxpayer moving cash across borders to manage capital expenditure needs in the face of a struggling economy? The current global economic condition is putting pressure on companies to manage cash flow but trying to repatriate or redeploy cash between jurisdictions raises tax issues. Please join Sean King to discuss implications ranging from withholding taxes to transfer pricing to corporate governance while also exploring effective strategies for managing each of these issues.
Host: Sean King, Director and Founder of Align Global Consulting
April 2: Stimulus Loan Programs Pros & Cons: Emergency Injury Disaster Loan & Paycheck Protection Program
With the recent creation of the Paycheck Protection Program (PPP) & the availability of the Emergency Injury Disaster Loan (EIDL), companies are scrambling for financial relief in light of the COVID-19 pandemic. Dave McGuire broke down the pros and cons of each SBA program. This webinar highlighted situations in which one loan may be a better option than the other. In addition, Dave included insight as to how unemployment claims will impact the ability to apply for each program.
April 1: FAQ COVID-19 Stimulus Package Webinar
Dave discussed many frequently asked questions (FAQ) generated from participants who joined one of our first three COVID-19 Stimulus Package Overview webinars. While the webinar covered numerous aspects of the acts, a few of the most frequently asked questions included:
How do the EIDL and Paycheck Prevention Program (7a) interact with each other?
What are the details of the 7a loan? What is considered for wages and how is it forgiven?
How do contractors affect the ability to qualify for the 7a loan?
Can you clarify the Qualified Improvement Property classification and how to capture it?
Where will the Employee Retention Credit be reported?
Can you provide further detail on the Families First Act?
March 30: Coronavirus Stimulus Package Overview
In order to limit the effect of the coronavirus, or COVID-19, the government has set up a series of three Stimulus Packages. The most recent of these was agreed to today, Wednesday, March 25. These bills have many provisions companies need to be aware of, including direct payments to individuals, changes to required family leave, increased unemployment benefits, loan programs, as well as a multitude of other programs and benefits. While these programs provide much needed stimulus, they are also confusing, and few business owners have time to dig into the details. In Dave’s webinar, he dove into some of the important details and provided advice for business owners and CPAs. Participants reviewed:
An explanation of the big policy points in the Families First Coronavirus Response Act passed on March 18.
An explanation of the large policy points in the Senate Stimulus Bill Agreed to on March 25.
An overview of planning opportunities and how to gain short term cash flow as a result of these bills.