Julio Gonzalez, member of President Trump’s Tax Roundtable, breaks down the benefits of the COVID Relief Act
[December 21 2020, Palm Beach, FL] – Julio Gonzalez, CEO of Engineered Tax Services and Member of President Trump’s Tax Roundtable reviewed Congress’s COVID-19 Emergency Relief Act of 2020 and issued the following praise for President Trump.
“President Trump greatly influenced the key elements of this bill that will help revitalize our economy and provide job security for millions. By demanding that employment tax credits can be used for workers to get credit for time taken off due to COVID-19, he has given a crucial lifeline to the middle class. Furthermore, the employee retention credit will significantly help small businesses who kept idle workers on payroll with a tax credit worth half of what they spent on wages and employee health plan costs after March 12, 2020. At Trump’s insistence, 100% meal expensing has been authorized, which allows for businesses to deduct 100% of meals if they are work related which is an increase of previous allowable expenses of 50% ” Gonzalez explained.
The COVID Relief Act secured much needed assistance for the restaurant industry and self-employed workers who have been some of the hardest hit by the pandemic, in large part due to President Trump’s insistence and persistent focus on getting the American economy back on track.
“Americans should be grateful that President Trump had the foresight to assemble a team of tax and finance professionals to provide input on this second round of economic stimulus to combat the damage done by the COVID-19 pandemic. There is hope on the horizon and help right around the corner for the American people who have gone through extremely tough times as of late.”
Julio Gonzalez, National Tax Reform Expert, is the founder and CEO of Engineered Tax Services, Inc. (ETS) – the country’s largest specialty tax engineering firm. Gonzalez is a member of Trump’s Tax Roundtable, a member of Forbes Finance Council and was named one of Accounting Today’s Top 100 influential people in accounting in December 2020.