2020 Year-End Tax Guide

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Marcum Year-End Tax Guide	1
Message from Joe	3
Table of Contents	4
About Marcum LLP	5
This Year in Review	7
Paycheck Protection Program Updates	18
The Effect of Tax Law Changes on Decisions Regarding Choice of Entity	22
Top Five Questions about the Paycheck Protection Program	24
COVID-19 Federal Wage-Related Tax Credits	27
Restaurant Recovery: An Update on PPP Loan Forgiveness During COVID-19	33
Qualified Small Business Stock	38
Research and Development (R&D) Tax Credit: Applicability and Benefits	41
Contractors, COVID and the CARES Act: What You Need to Know	43
Commercial Solar Incentives	47
Property, Pandemic and Politics: “PPP” for the Real Estate Industry	49
2020 Year-End Tax Planning Strategies for Individuals	52
Gift and Estate Tax Planning Opportunities to Consider Before the End of 2020	58
The Estate Tax Exemption: How Much Was It and How Much WIll It Be?	60
Overcoming Challenges for the Modern Family	62
The Obergefell Case: Relevance for Modern Families & the Road Ahead	64
Nonprofit Stimulus: Year in Review	65
A Busy Year for Nonprofit Tax Guidance	69
State and Local Tax (“SALT”) Year-End Tax Updates	73
Captive Insurance Companies: A 2020 Year-End Update	76
International Taxation Matters: Potential Impact and Planning Points	78
Transfer Pricing Update	80
2020 Tax Reference Tables	86
Contributors	88

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