February 2021
New Video Series - SobelCo Insights
SobelCo Insights is a newly launched series of brief, insightful videos addressing important updates and relevant topics that will be released weekly.
Please join Brad Muniz for Part One of this series as he interviews Chris Martin, discussing recent changes to the Paycheck Protection Program (PPP).
Qualified Opportunity Funds - COVID-19 Additional Relief
John Mayer, SobelCo
Mariana Moghadam, SobelCo
Qualified Opportunity Funds (QOF) were created as a part of the 2017 Tax Cuts and Jobs Act (TCJA) as a vehicle to defer tax on gains. Qualified opportunity zones were designated by each individual state in areas that were deemed to be economically distressed. To defer gains, a taxpayer must invest their gains into a QOF, which is defined as a partnership or corporation that invests directly in QOZ business or property.   

The Qualified Opportunity Zone program differs from other gain deferral incentives in that only the gain portion of a sale or transaction need be reinvested, not the total proceeds. Typically, gains need to be reinvested within 180-days of the transaction which generated the gains, with some exceptions. 
What's New at SobelCo
Look what's new this month at SobelCo

Missing Pension Plan Participants
Liz Harper, SobelCo
The United States Department of Labor (DOL) takes the problem of missing pension plan participants very seriously.

As such, the regional offices of the Employee Benefits Security Administration (EBSA) have recently launched a program called the Terminated Vested Participants’ Project (TVPP), designed to audit and help manage the voluntary compliance efforts undertaken by plan fiduciaries.

On January 12, 2021, the EBSA issued its Compliance Assistance Release No. 2021-01. The goal of the memo was to inform Plan fiduciaries and others responsible for the administration of employee benefits that the EBSA is seeking their compliance in minimizing the number of missing Plan participants. The main objective of the EBSA in this process is to ensure that eligible employees (and their beneficiaries) receive their promised benefits.
Webinar Recording
Tax Time Tips for Individuals Webinar Recording
If you missed, want to replay, or share with a colleague the SobelCo webinar from February 18, 2021, please click on the link below.
Upcoming Events
March 4, 2021
Business Exit Planning Webinar

March 16, 2021
Executive Women's Breakfast Program