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Need a Refresher on the CARES Act? Watch This Sold-Out Pentera Webinar Featuring Emil Kallina
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Need a refresher on the CARES Act? Pentera presents charitable planning expert Emil Kallina in a free Webinar about the impact on charities of the CARES Act and related legislation. Two presentations of this Webinar sold out. Now you can download it for free.
The Webinar, “The CARES Act: Its Effects on Charitable Giving Law and Other Related Coronavirus Legislation,” is designed to help charities understand how they can benefit from changes in the charitable giving law. The CARES Act—officially the Coronavirus Aid, Relief, and Economic Security Act—was passed last month. The broad-reaching financial legislation is designed to deal with the economic crisis created by the Coronavirus.
The Webinar will address CARES Act provisions for 2020 that include:
- An above-the-line charitable deduction of $300.
- The elimination for individuals of income-tax percentage caps on charitable contributions of cash to selected charities.
- The increase in the cap of income-tax charitable deductions for corporations to 25%.
Aside from these changes, charities also need to be aware of federal loans and grants under the CARES Act and tangential legislation, such as:
- The Paycheck Protection Program (PPP) loans (where loans can turn into grants)
- The Families First Coronavirus Response Act
- Economic Injury Disaster Loans (EIDL)
- The deferral of employer-owed payroll taxes
- The Employee Retention Credit
The Webinar will also address Department of Labor and Small Business Administration notices and IRS extensions (until July 15, 2020) of the filing of income-tax returns and the payment of income tax and gift tax.
Biography of Emanuel J. Kallina II
Emanuel ("Emil") J. Kallina II is the managing member of Kallina & Associates, LLC, and focuses his practice on estate and charitable planning for high-net-worth individuals and on representing charitable organizations in complex gifts. Emil works extensively with tax-exempt and governance issues facing charities; charitable vehicles such as pooled income funds and charitable lead and remainder trusts; supporting organizations; and private foundations. Over the years he has practiced in the related fields of business law, corporate tax law, partnerships, and real estate.
Emil is the founder of CharitablePlanning.com, a Web site dedicated to professionals who need the tools to complete planned and major gifts. He is also a co-founder of the Planned Giving Design Center (www.pgdc.com), chairman of the board and president of The James Foundation, a former member of the board of the American Council on Gift Annuities, a former member of the board of directors of Search Ministries, Inc., a former member of the board and chairman of the board of K-Love, a former member of the board of directors of CGP (formerly PPP), former chairman (5 years) of the Government Relations Committee of the NCPG, a co-founder of the Chesapeake Planned Giving Council, and a present and former member of numerous other boards. Mr. Kallina has testified frequently before the IRS, is a nationally recognized speaker on estate planning and charitable giving, and is a frequent author on these topics.
