The Coronavirus Aid, Relief, and Economic Security Act
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides much needed economic help to distressed businesses. The recently passed law offers financial assistance through the Small Business Administration and tax deferrals to maintain cashflow. Additional refundable tax credits to offset required paid sick and family leave will protect workers and businesses hurt by COVID-19.
Download this CARES Act infographic to provide to your customers.
Improved HVAC Expensing Provision
The legislation also fixed a technical error from the Tax Cuts and Jobs Act. Under the new law any improvements, including HVAC systems, commercial refrigeration and other improvements, made to an existing building can be immediately expensed on the customer’s taxes. Learn more about HVAC expensing in this infographic.