It's no surprise the COVID-19 pandemic has dealt a major blow to businesses of all sizes. According to one forecast, one in three U.S. restaurants may close permanently this year. This marks an abrupt halt to steady growth seen by many companies over the past two decades. We at Abo and Company are amazed at the resiliency and ingenuity of so many of our commercial clients, especially restaurants, in artfully adapting to a rapidly changing marketplace. Alas, unfortunately we’re also seeing so many friends and clients succumb to the economic effects of the novel coronavirus. We don’t want to dwell on negative or even depressing topics but perhaps we can suggest certain tax strategies that could help ease the sting?

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