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Overview of the CARES Act's Paycheck Protection Loan Program

Mar 30 2020
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Among the provisions of the CARES Act is the Paycheck Protection Loan Program (“PPP”), a $349 billion new forgivable business loan program under the Small Business Administration’s (“SBA”) existing Section 7(a) loan framework.

Post & Courier Recognizes Stephanie Few as one of Charleston’s 25 Notable Women

Mar 27 2020
CHARLESTON, SC—Go to just about any groundbreaking ceremony for a new factory in South Carolina, or a press conference announcing more jobs coming to the Palmetto State, and you are likely to see Womble Bond Dickinson’s Stephanie Few standing alongside government and business leaders. Few focuses her practice on economic development, and she has been instrumental in recruiting tens of thousands of jobs, plus billions of dollars of investments, to South Carolina. So when the Charleston Post & Courier profiled 25 Notable Women in the city, Few was a logical choice.
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SEC’s Division of Corporation Finance Provides Coronavirus (COVID-19) Disclosure Guidance

Mar 27 2020
As part of its coronavirus disease 2019 (COVID-19) response, the staff of the U.S. Securities and Exchange Commission’s (“SEC”) Division of Corporation Finance (the “Division”) published CF Disclosure Guidance: Topic No. 9 (the “Guidance”), which summarizes disclosure and other securities law obligations that companies should consider with respect to COVID-19 and related business and market disruptions.
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House Approves CARES Act; President Signs $2 Trillion Stimulus Package

Mar 27 2020
The CARES Act (short for Coronavirus Aid, Relief, and Economic Security Act) was approved by the United States Senate Wednesday night by a vote of 96-0 and by the House this afternoon. The bill is headed to the President for his signature now. Once Presidential approval is in hand, the Treasury Department, the SBA and the White House will work rapidly to effectuate the Act. This relief comes in the wake of reports that the United States now leads the world in the number of coronavirus cases.
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Torturous Treatment of Transatlantic Trusts

Mar 27 2020
The popularity of lifetime trust giving in the UK has been on a downward trend since April 2006 when the Labour government introduced reforms specifically aimed at stopping trusts “being used to shelter wealth from inheritance tax”. Subsequent UK governments continued in the same vein through the blurring of legitimate tax avoidance with criminal tax evasion, the introduction of new criminal offences targeting wealth advisors and increases to the tax rates paid by trustees.
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In the Market for a Private Jet? Bonus Depreciation, a Boon to Equipment Purchasers

Mar 27 2020
The 2017 Tax Cuts and Jobs Act of 2017 (TCJA) became effective as of January 1, 2018. Among its many modifications of the Internal Revenue Code is a temporary but highly beneficial change in the eyes of high-net worth individuals in the market for luxury items such as private aircraft or yachts as well as equipment leasing and finance companies – an increase and extension of bonus depreciation provided for under Section 168(k) of the Code. As explained further below, purchasers of eligible business property are able to make a first-year deduction of 100% of the purchase price for property acquired and placed in service after September 27, 2017 and before January 1, 2023.
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Taking Control in Uncertain Times – Transfer Tax Planning in the Eye of the Hurricane

Mar 27 2020
The COVID-19 virus, or Coronavirus, has thrown the world in to a tailspin. Businesses have closed their doors, once crowded streets are deserted and people are self-isolating in their homes. During this crisis, there are certain estate planning documents that everyone should have in place. There are also more sophisticated transfer tax planning techniques that clients can take advantage of in the current economic environment.