NASBA Field of Study
Paycheck Protection Program
Selected Tax Provisions of the CARES Act
State and Local Considerations
Analyze the Tax Cuts and Jobs Act provision limiting excess business losses (EBLs) under Section 461(l).
Determine the significance of the change in the EBL provision for wages.
Determine when an individual taxpayer has a net operating loss.
Differentiate between qualified improvement property and other depreciable improvements.
Identify the key components of the CARES Act.
Apply the requirements for PPP loan forgiveness.
Identify recent developments related to PPP loans.
Identify the key issues currently being debated regarding payroll tax deferral.
Analyze the implications of the CARES Act on payroll taxes
Determine the eligibility requirements for payroll tax deferral.
Determine the key tax implications for companies that have employees working from home.
Identify the tax implications of selling an owned office space and keeping an owned office space.
Calculate the tax implications of a Section 467 lease with different payment structures.
Analyze the current issues at the state level with regard to conformity with the CARES Act.
Calculate the benefit a client could expect to receive from applying R&D credit provisions
Identify COVID-19 impact on R&D credit availability and future benefit.
CPAs in private practice
Other qualified professionals
Small business owners