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AICPA and Trade Associations Ask Congress to Fix PPP Loan Deductibility In a Letter to Congress

(JofA) - , dated Dec. 3, hundreds of national trade associations and their state and regional affiliates asked that legislation be enacted before the end of 2020 reversing the IRS’s position that amounts forgiven in loans under the PPP be nondeductible business expenses.


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Who Gets the Qualified Business Income Deduction? 
(Accounting Web) - The Tax Cuts and Jobs Act (TCJA) introduced a 20-percent qualified business income deduction provision, which potentially benefits all taxpayers except C corporations. For clients who are S corporation shareholders, partners and sole proprietors, they may also benefit as can trusts, estates and their beneficiaries

How to Forward an Email as an Attachment in Microsoft Outlook 
(How-to-Geek) - Instead of forwarding several emails individually, you can send them all at once as attachments. You can do this with both Microsoft Outlook’s native desktop client and the online web app. Here’s how to forward emails as attachments in both.

Gifting and Taxes: The Sooner the Better 
(Accounting Today) - Clients don’t want to be on the wrong side of any potential changes to tax law.

Theaters Vexed by Warner Bros.’ Straight-to-Streaming Move 
(Bloomberg) - Theater chains such as AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. are firing back at Warner Bros. after the studio overhauled its film-release strategy and sent their shares plummeting.

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