Changes in the Law for 2020 because of Corona Virus

Persons with an Individual Retirement Account

  • 10% penalty for early withdrawals—waived up to $100,000 for corona related distributions.

Business Owners

  • Payroll Tax Deferral—from the date of the CARES Act is signed into law until the end of December 2020.
  • Employee Retention Credit—employers will get a credit of 50% qualified wages.
  • Operating Losses—five year carryback of net operating losses for businesses.

Contact us today to review your estate planning matter

Call me, Joseph E. Deering, at 866.214.7267 or contact my firm online to schedule a consultation.

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Our Offices

  • Santa Monica Office

    Address

    2221 23rd Street
    Santa Monica, California 90405, US

    Phone

    310-907-5715

  • Pasadena Office

    Address

    215 North Marengo Ave.
    Suite 160
    Pasadena, California 91101, US

    Phone

    310-907-5715