2020 Year-End Tax Guide

5

THE MARCUM 2020 YEAR-END TAX GUIDE

Table of Contents

01 02 14 18

48 54

About Marcum llp

2020 Year-End Tax Planning Strategies for Individuals

This Year in Review

Gift and Estate Tax Planning Opportunities to Consider Before the End of 2020

Paycheck Protection Program Updates

56

The Estate Tax Exemption: How Much Was It and How Much Will It Be?

The Effect of Tax Law Changes on Decisions Regarding Choice of Entity

58 60 61 65 68 72

Overcoming Challenges for the Modern Family

20

Top Five Questions About the Paycheck Protection Program

The Obergefell Case: Relevance for Modern Families & the Road Ahead

23 29 34 37

COVID-19 Federal Wage-Related Tax Credits

Nonprofit Stimulus: Year in Review

Restaurant Recovery: An Update on PPP Loan Forgiveness During COVID-19

A Busy Year for Nonprofit Tax Guidance

Qualified Small Business Stock

State and Local Tax (“SALT”) Year-End Tax Updates

Research and Development (R&D) Tax Credit: Applicability and Benefits

Captive Insurance Companies: A 2020 Year-End Update

39

74

Contractors, COVID and the CARES Act: What You Need to Know

International Taxation Matters: Potential Impact and Planning Points

42 45

76 82

Commercial Solar Incentives

Transfer Pricing Update

Property, Pandemic and Politics: “PPP” for the Real Estate Industry

2020 Tax Reference Tables