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CARES Act - Net Operating Losses and Related Business Provisions

Gain an understanding of the CARES act and the use of net operating losses.The CARES Act provides many important avenues for businesses and individuals to recognize financial and tax benefits. This topic will discuss the use of net operating losses. Many changes such as the deduction for QIP and suspension of the excess business loss rules are retroactive to 2018. New interest deduction rules apply for 2019. Special provisions apply for partnerships. NOL's can be carried back 5 years providing an avenue to receive needed funds. However, there are important time requirements and filing procedures.
Runtime: 90 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

CARES Act Changes
  • Qualified Improvement Property
  • 163(j) Interest Rules
  • Excess Business Loss
Net Operating Loss History
  • Pre-TCJA
  • TCJA Changes and Limitations
  • CARES Act
Comprehensive Example
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

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  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Robert S. Barnett, CPA, Esq.

Robert S. Barnett, CPA, Esq.

Capell Barnett Matalon & Schoenfeld LLP

  • Partner in the office of Capell Barnett Matalon & Schoenfeld LLP
  • Practice is highly concentrated in the areas of taxation, trusts, estates, corporate and partnership law and charitable planning
  • Frequently assists clients in structuring financial transactions and charitable gifts
  • His articles and lectures encompass a wide variety of topics, including business succession, estate planning, generation-skipping, stock options, effective strategies for removing tax liens, proper utilization of the marital deduction and utilization of partnership elections
  • Membership information includes board of directors of the Long Island Community Foundation; board of directors of Nassau Academy of Law; Professional Advisors Committee of the Long Island Community Foundation; Professional Advisors Committee of the American Heart Association; past Education Committee chairman NCCPAP; past president of Nassau Chapter NYSSCPA; past president of the NCCPAP Educational Foundation; and CPA Journal Editorial Review Board, May 2017-2020
  • Awards include Fordham University Law Review; Max Block Distinguished Article Award for Technical Analysis, 2013; Samuel A. Dyckman Excellence in Education Award, November 2016; Leadership in Law Award – Long Island Business News, November 2016; Distinguished Service Award - NYSSCPA - Nassau Chapter, May 2017; Fordham University American Jurisprudence Award - Trusts and Estates; Dean’s Award in Taxation – Long Island University CW Post
  • J.D. degree, Fordham University; M.A. degree in taxation, Long Island University
  • Can be contacted at 516-931-8100 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 407737
Published 2020
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