Upcoming Events

01/14/2021 - 01/17/2022, All Day

ON DEMAND WEBINAR | PPP, Taxes & Economic Relief: Breaking Down the Consolidated Appropriations Act

Now Available On-Demand: The Consolidated Appropriations Act provides $900 billion in COVID-related economic relief to businesses. Most notably for small businesses, the package reserves $284 billion through a second round of Paycheck Protection Program (“PPP”) forgivable loans, or as some are calling it, PPP2.

On Friday, January 15th at 9:00 AM CST, Lurie’s Economic Relief Team (Kevin Besikof, Julie Helms, Mike Mondelli and Chris Van Schooneveld) gave a short presentation updating PPP and various rule changes, including other tax and relief package options available to business owners. Our team also answered several questions during an extended Q&A session. Our agenda, in summary:

Breaking down the Consolidated Appropriations Act
How to qualify for PPP2
What expenses are allowed under the new rules
Loan forgiveness, simplified
How to apply for a new, or “second draw” PPP loan
Expanded Q&A

Click Here to Watch Recording

Disclaimer
By viewing the webinar recording prepared by Lurie, LLP (clicking the link) you understand the content is for informational purposes only. You should not act upon this information without seeking advice from a Certified Public Accounting firm licensed in your own state. The information presented was current at the time of its recording, on January 15, 2021.

Limitation of Liability
After the presentation, official guidance and rules may be changed, improved, or updated without notice. Lurie, LLP is not responsible for any errors or omissions in the content of this presentation, or for damages arising from the use or performance of this presentation, under any circumstances.

01/15/2021 - 12/04/2021, 11:00 am - 12:00 pm

On Demand | Understanding New Form 1099-NEC (and changes to 1099-MISC)

Click Here to View Recording

Does your business pay freelance or nonemployee subcontractors – including vendors, independent contractors, and consultants? Starting in reporting year 2020, you will have to use a new Form 1099-NEC to report most nonemployee compensation. This changes how you also use Form 1099-MISC, which has been used by businesses for many years to report calendar-year payments exceeding $600 to individuals who performed business services.

On Friday, December 4^th 2020, Becky Munson, Director of YourBooks, outlined how to make sure you are using each form correctly and are in complete compliance.

Understand the change to form 1099-NEC for 2020
Understand what hasn’t changed with the filing process
Familiarize you with the new forms and what will be needed to file
Review filing resources for the 2020 reporting cycle

01/16/2021 - 12/01/2021, 11:00 am - 12:00 pm

On Demand | Qualified Disaster Relief: Tax-Free Benefits for Your Business & Employees

Click Here to Watch

The impact of the COVID-19 outbreak resulted in a declared nationwide disaster. The Internal Revenue Code (Section 139) may present a relief option that can ease some of the work-from-home strain on employee well-being and increase productivity. It may also reduce liability for employers as well.

Our team hosted a webinar explaining how qualifying employers can help mitigate the effects on their business and employees through tax-free qualified disaster payments. Lurie advisors Kevin Besikof, Chris Van Schooneveld and Mike Mondelli explained:

Why Qualified Disaster Relief Exists & Why It Makes Sense Now
What Is Section 139 & What Qualifies?
As an Employer, How Do I Plan & Track? Documentation & Best Practices
Putting Your Qualified Disaster Relief Plan into Action

Click the link button at the top to access an on-demand version of this webinar.

01/18/2021 - 12/01/2021, 11:00 am - 12:00 pm

On Demand | Telehealth: Paving the Way for Innovation in Your Medical Practice

Click Here to Watch

In a matter of months, COVID-19 has radically changed how healthcare is practiced, managed and distributed. With the aid of technology and innovative applications in telehealth, there is great opportunity – but not without risk. While each medical practice’s vision of the future will be different; what is critical for all leaders to understand is how to create a solid security plan to protect your practice from costly mistakes. If you are looking to rapidly innovate or take advantage of new tech – you need an effective framework.

We hosted an informative webinar led by Lurie Technology Partner Kate Siegrist. In the presentation, Kate provided 3 take-aways to better understand:

The Unique Security Challenges and New Opportunities in 2020
How to Protect Yourself and Your Practice in Common Usage of Telehealth
What It Takes to Build a Solid HIPAA Security Plan for Telehealth

01/19/2021 - 12/03/2021, 11:00 am - 12:00 pm

On Demand | Get Ready to Apply for PPP Loan Forgiveness | How to Prep & What to Expect

To apply for Paycheck Protection Program (PPP) loan forgiveness, you will need to complete either the SBA Form 3508, 3508EZ, 3508S, 3509, 3510 or a Lender equivalent. But how do you know which form is correct, or the best/easiest path to take? Also, what do you need to do to prepare, so that you have everything ready, with the fewest delays and ultimately maximize your loan forgiveness chances?

On Thursday, December 3rd, Lurie’s Economic Relief Team (Kevin Besikof, Mike Mondelli and Chris Van Schooneveld) presented general answers to these questions, shared first-hand experiences and offered advice on how to effectively prepare PPP loan forgiveness applications.

Understanding the SBA forms & which one best applies to your situation
Our tips to get ready, including: documentation, lender requirements and timing
What steps in preparation take the longest or are most complex
Case studies of successful PPP loan forgiveness
Other valuable commentary and updates, such as the tax deductibility of PPP expenses, concerns for larger loans and what the future may hold for PPP.

Click Here to Watch

Important Notice: Guidance and Final Rules May Change
The video recording reflects our current understanding of the considerations associated with PPP loan forgiveness requirements, as of December 3, 2020.

Disclaimer
By viewing the recorded presentation prepared by Lurie, LLP (clicking the link) you understand the content is for informational purposes only. You should not act upon this information without seeking advice from a Certified Public Accounting firm licensed in your own state.

Limitation of Liability
The materials and our commentary provided in this presentation may not reflect the most current SBA guidelines. Official guidance and rules may be changed, improved, or updated without notice. Lurie, LLP is not responsible for any errors or omissions in the content of this presentation, or for damages arising from the use or performance of this presentation, under any circumstances.

01/19/2021 - 12/01/2021, 11:00 am - 12:00 pm

On Demand | Is Now the Right Time to Gift Your Company?

Click Here to Watch

COVID-19 has upended every aspect of owning a business. But there may be one opportunity to make a smart business decision this year, if you are considering transferring your business to family or the next generation. In this webinar, we will answer the questions: Is now the right time to gift your company? And, how much time do you have to explore this option before the conditions change?

Lurie advisors Kevin Besikof, Matt Brown and Chris Van Schooneveld hosted a webinar providing context, fundamentals and examples that can help you understand:

The current and future state of the estate tax
How 2020 has affected valuation, and whether there is opportunity
Why these factors influence valuation
Assuming it makes sense, how gifting your business works – and the possible tax advantages

Click the link button at the top to access the on-demand version of this webinar.

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