TAX REFORM: BUSINESS TAX

Opportunity Zones are Knocking: Should You Answer?

Investment returns often reward the patient investor. And now, the federal government is doing the same. A provision of the Tax Cuts and Jobs Act (TCJA) sets up an incentive program for investors who are willing to take a chance on long-term investments in economically depressed areas. The U.S. Treasury Department and IRS recently issued [...]

2018-11-12T15:42:18+00:00October 24th, 2018|TAX REFORM: BUSINESS TAX|

Tax Reform Expands Availability of Small Business Tax Breaks

2017’s Tax Cuts and Jobs Act (TCJA) was filled with headline-grabbing changes like lower tax rates for corporations and individuals, a 20% deduction for qualified income from pass-throughs, and the elimination of the corporate alternative minimum tax (AMT). But the TCJA also included some fairly generous gifts in the form of expanded availability of existing [...]

2018-11-12T15:42:19+00:00October 23rd, 2018|SMALL BUSINESS, TAX REFORM: BUSINESS TAX|

Preparing for Tax Reform Take-Off: 4 International Tax Impacts

When the Tax Reform plan was signed, the largest international tax reform since 1962 also achieved liftoff. Specifically, there are several major provisions in the new legislation that will have a large impact on this group of taxpayers. 1. Participation exemption For distributions made after December 31, 2017, domestic C-Corporation taxpayers will be allowed a [...]

2018-11-12T15:43:03+00:00February 16th, 2018|INTERNATIONAL TAX, TAX REFORM: BUSINESS TAX|

Understanding Tax Reform’s New Pass-Through Entity Deduction

As many business owners might tell you, there are times when business income and individual income can feel like two parallel universes co-existing in the cosmos. While they are closely related, passing through income from one to the other can seem as complicated as space travel itself. Lucky for you, recent changes within the Tax [...]

Tax Reform’s Bonus Depreciation and Section 179 Gift

On December 22, 2017, the President signed the Tax Reform legislation. The bill largely takes effect in 2018 and makes significant changes that impact most — if not all — taxpayers. Increased deductions for bonus depreciation and Section 179 expense are just two of these changes impacting business taxpayers, and these largely positive changes are [...]

2018-11-12T15:43:23+00:00January 15th, 2018|BUSINESS TAX, TAX REFORM: BUSINESS TAX|

Entity Selection Gets Murkier with New Tax Reform Passage

Choosing the best type of entity structure for your business has always been a complicated process. There are so many factors that go into making this decision - number of owners, state law, and taxation of the business and its owners to name a few. With the recent passage of Tax Reform, taxation has been [...]

2018-11-12T15:43:25+00:00January 8th, 2018|BUSINESS TAX, FEBRUARY 2018, TAX REFORM: BUSINESS TAX|

Unintended Tax Reform Consequences: Impact to GAAP Financial Statements

The GOP Tax Reform was signed into law on December 22, 2017. Many companies are scouring how those new tax law changes will impact their corporate tax returns. However, companies should also consider how these tax law changes may also impact their GAAP financial statements. Since the Tax Reform was signed into law in 2017, [...]

2018-11-12T15:43:32+00:00December 22nd, 2017|BUSINESS TAX, JANUARY 2018, TAX REFORM: BUSINESS TAX|

Business Tax Is Clearly Up For Change this Season: Comparison of House & Senate Tax Reform Bills

It’s been since 1986 since the winds of tax change have potentially blown this powerfully. Both the House and Senate have passed versions of tax reform, and the next step in the process is for members from both houses of Congress to develop a compromise final tax reform bill. This bill must then pass both [...]

2018-11-12T15:43:39+00:00December 5th, 2017|BUSINESS TAX, DECEMBER 2017, TAX REFORM: BUSINESS TAX|