White House

Tax turnabout ahead? 2020 presidential election debrief 

Location: Virtual
Start date:

12/14/2020 1:00 PM Eastern

End date:

12/14/2020 4:00 PM Eastern

White House

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Event details

As the 2020 election outcome nears its conclusion, it appears that Democrat Joe Biden will become the next U.S. president. What tax changes could we see during a Biden presidency – and how would those changes affect your tax planning?

At our virtual election debrief event, Crowe tax specialists will cover Biden’s campaign proposals on corporate, individual, employment, retirement, healthcare, and other tax areas. They’ll also discuss key tax developments by industry and functional area in breakout sessions.

Continuing professional education

Who should participate: Tax executives and professionals making tax-planning decisions for themselves and their companies

Advance preparation: None

Prerequisites: None

Program level: Basic

Field of study: Tax

Delivery method: Webinar (live group internet)

This event is recommended for 3.0 hours of CPE credit. Each session is recommended for 1.0 hours of CPE credit.

There is no fee to participate in this event; therefore, there is no cancellation fee.

Additional CPE information

Contact information

For more information, please contact Hannah Schierbeek.

Gary Fox
The 2020 election season has been just as surprising as the year itself, but individuals and companies should be proactively thinking about how changes in tax policy may impact their bottom line.
Gary Fox
Gary Fox
Managing Partner, Tax Services

Session descriptions

 

Main presentation: 1-2 p.m. Eastern

Election 2020: Year-end roundup and prognostication

This session will provide an overview of the election impact on tax planning and other key 2020 tax developments.

Participants in this session should be able to:

  • Identify the impact of November elections on federal tax planning
  • Discuss key federal income tax developments of 2020

Presenters

Howard Wagner

Pete Judge

Industry breakout sessions: 2-3 p.m. Eastern

Key tax developments for the manufacturing sector

This session will provide an overview of tax law changes and recent developments impacting the M&D industry.

Participants in this session should be able to:

  • Identify drivers in the M&D industry including subverticals
  • Discuss key tax legislation and economic drivers

Presenter

Aaron VanSoest

Updates and planning tips for the tax-exempt industry

In this session we’ll discuss how the exempt industry has been impacted by the economic crisis resulting from the global pandemic, the related provisions and tax policies that were rolled out in an effort to provide relief to the industry, and, on the heels of an election year, how exempt organizations can plan for 2021.

Discussion highlights:

  • An update on tax reform and the CARES Act
  • The impact of new tax provisions and policies on healthcare, higher education, private foundations, and other exempt charitable organizations
  • A look to the future and planning opportunities for 2021

Participants in this session should be able to:

  • Interpret updates on tax reform and the CARES Act
  • Discuss the impact of new tax provisions and policies on healthcare, higher education, private foundations, and other exempt charitable organizations
  • Identify planning opportunities for 2021

Presenters

Nicole Bencik

Mallory Fairless

Federal & state tax changes impacting healthcare

This session will cover tax law changes and recent developments impacting the healthcare industry.

Participants in this session should be able to:

  • Identify potential federal tax law changes impacting healthcare industry
  • Identify potential state income tax law changes impacting healthcare industry
  • Identify state sales/use tax income tax law changes impacting healthcare industry

Presenter

Scott Ford

Updated planning opportunities for percentage-of-completion methods for construction

This program will provide detailed explanations for the various tax methods allowed and used for different types of construction contracts, including PPP loan issues, and other year-end tax planning opportunities.

Participants in this session should be able to:

  • Identify opportunities for their companies to utilize different tax methods allowed for contracts under Section 460
  • Assess the benefit of the methods that could be implemented on their construction contracts
  • Explain year-end tax issues related to PPP loan funds received and timing of forgiveness

Presenters

Ben Matherly

Rhonda Huismann

Post-election tax planning for tech, media, and telecommunications

This program will provide planning points for TMT companies.

Participants in this session should be able to:

  • Explain main tax topics impacting TMT companies
  • Demonstrate a deeper understanding of top tax issues facing TMT companies
  • Identify opportunities for TMT companies post-election

Presenter

Donielle Borgo

Potential tax law changes affecting retail dealers

This program will be a discussion of tax planning topics for dealers related to potential tax legislation.

After the session you should be able to:

  • Interpret potential federal tax law changes affecting the flow-through ownership structure
  • Identify potential tax law changes affecting capital expenditure planning
  • Identify proposed timing of tax law change implementation

Presenter

Kevin Gilbreath

Tax function breakout sessions: 3-4 p.m. Eastern

SALT in a changing world: Election 2020 impact

The session will provide an overview of key tax policy changes as a result of the election and pandemic that impact state and local taxation. Specific points of discussion include entity-level pass-through workarounds, the state tax deduction limitation, worker mobility, the future of PL 86-272 and economic nexus, and changes to Section 118 for government incentives.

Participants in this session should be able to:

  • Explain entity-level pass-through workaround rules as set forth by state statutes and Treasury Department rules and guidance
  • Review the state and local tax deduction limitations and how these could change in 2021
  • Explain the background of PL 86-272 and the policy reasons that could leave it open to challenge or repeal
  • Review state and local remote worker rules and guidance related to the pandemic and the policy reasons behind the movement to have federal legislation address this issue

Presenters

Kevin Spiegel

Jon Cesaretti

How could a Biden administration change international taxes?

This session will provide an overview of changes in international tax.

Participants in this session should be able to:

  • Discuss potential tax policy of the incoming administration
  • Discuss major differences between new policy and the Tax Cuts and Jobs Act (TCJA)

Presenters

Jordan Bacon

Sergei Mytko

Robert Hermo

Global private client services: High net worth tax planning strategies

This session will review post-election tax planning for high net worth individuals and the businesses they own.

Participants in this session should be able to:

  • Identify tax planning strategies for 2020 and 2021
  • Discuss ramifications of changes to the estate tax
  • Explain the controversy affecting high net worth individuals and their businesses, including IRS compliance efforts and campaigns

Presenters

Sarah Allen-Anthony

David Lifson

Recent tax developments for partnerships/S corporations

This session will cover tax planning opportunities should the administration’s tax plan be enacted and highlight recent developments in the partnership area.

Participants in this session should be able to:

  • Apply 2020 requirements to reporting of capital account balances under the tax basis
  • Interpret final IRC 163(j) regulations and impact to partnership and S-corporation tax reporting
  • Identify potential tax planning opportunities for partnership and S-corporation entities

Presenter

Phillip Malnar

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