The COVID-19 pandemic has caused significant disruption for many businesses, but as is often the case, with crisis comes opportunity. For business owners, the economic downturn has created opportunities to dramatically lower short- and long-term tax liabilities.
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Questions and concerns surrounding Estate planning have definitely been topic of conversation as of late.
As the COVID-19 crisis continues to disrupt our economy in far-reaching and unprecedented ways, business owners may or may not be immediately impacted by the restrictions the government has imposed on businesses, but this crisis has likely been disruptive in some way, whether from a revenue, staffing or cash flow perspective.
Cash on the side lines? Don’t jump in with two feet, you may feel like a hero doing this but given the uncertainty and plethora of bad news ahead this isn’t a smart move. If you get in at the bottom it’s luck, not skill. Walk it in, take you time over the coming weeks and months.
We are committed to focusing on preventive measures that we believe will help minimize the spread of the coronavirus (COVID-19) and protect the most vulnerable members of our community.