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Taxes. Not one of everyone’s favorite topics, but that didn’t stop some 750 people who signed up to participate in an end-of-year tax planning webinar focusing on pandemic-related issues.
Held last week, the webinar addressed estate planning, Medicaid lookback, PPP loan forgiveness, SALT deductions and opportunity zones, as well as potential tax changes that may be implemented under a Biden administration.
Rabbi Naftali Miller, national director of development for the Agudah, host of the webinar, said that the webinar drew participants from 60 major accounting firms. A recording of the hour-long session is being released to the public, giving an even larger audience an opportunity to better understand the tax ramifications of this year’s unusual circumstances.
The panel of CPAs featured Benjamin Berger, a partner at Bernath & Rosenberg; Abe Schlisselfeld, partner in charge of the real estate group at Marks Paneth; Zacharia Waxler, co-managing partner at Roth&Co; and Shulem Rosenbaum, a manager at Roth&Co. The panelists also answered questions submitted in advance by participants, who earned CPE credits for taking part in the webinar.
Being able to address continuously evolving issues such as PPP loans was crucial, noted Mr. Rosenbaum, as updates on all aspects of the program continue to emerge. “One mistake can cost you a lot more money than consulting first with a professional,” said Mr. Berger.
“So many timely topics that affect local business owners were discussed and this strong collaborative conversation could have gone on for hours, but in reality, so much was accomplished in a single 60 minute lunch break,” said Mr. Waxler.
“Now more than ever, it is crucial for people in the financial world to stay on top of the latest developments,” added Mr. Schlisselfeld. “It has been an unprecedented year and kol hakavod to the Agudah for taking the initiative to give people an opportunity to acquire the financial and practical advice they need as the year 2020 comes to a close.”