Webinar: Turn 2020 Losses into 2019 Deductions
July 1, 2020
Watch our expert panelists as we discuss how to claim COVID-19 losses and expenses on your 2019 tax return. Did you know that individuals and businesses can claim deductible disaster-related losses sustained in the current year on the prior year’s tax return? That’s right. This commonly overlooked tax incentive went into effect when President Trump declared a national emergency for COVID-19.
Here are just a few examples of the many claimable losses:
- Costs of personal protective equipment (PPE)
- Closure of stores and facility locations
- Disposal of unsold inventory, supplies and other property
- Financial or legal service-related fees due to default on pre-existing obligations
Learn how you can take advantage of this provision, even if you have already filed your 2019 tax return. Chances are you are eligible.
Aprio Expert Panelist:
- Cardell McKinstry, Partner, serving Transaction Advisory clients, Aprio
- Ori Epstein, Partner, serving Technology and Blockchain clients, Aprio
About the Author
Mitchell Kopelman
As leader of the firm’s Technology industry client base, Mitchell coordinates and collaborates with leaders across all service lines supporting the firm’s technology clients providing a range of services. Mitchell has been a partner with Aprio since 1990. He works with domestic and multinational clients in a range of technology industries, including software, blockchain, gaming, prop tech, fintech, healthtech, IT, generative AI, and privacy and security. Mitchell helps business owners, venture and PE investors, and C-level executives achieve their business objectives, from pre-revenue startups to high growth liquidity events.
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