On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to address the unprecedented public health and economic crisis related to COVID-19.
This $2 trillion bill is meant to impact both individuals and businesses and contains significant tax-savings measures. It could affect prior tax years while also creating immediate cash flow.
The following is the summary presented by Michael Kitces and Jeffery Levine (www.kitces.com) on March 27, 2020. I aim to provide you the highlights that may help you in your personal life, business and that may help someone you know. I am sure we will dive in deeper in the next a few weeks in terms of planning strategies and action plans to improve your financial situation.