What is the right entity for your new business? The default answer is often considered to be a corporation, as it provides the owner with protection from business debts and has a lower 21 percent federal tax rate. The...more
Over the last month, President Biden has discussed various tax proposals that will increase income taxes on businesses and high-income individuals. In the last week, we have learned more about what some of those proposals...more
Because of Covid-19, the IRS extended most federal tax filing and payment deadlines otherwise due from April 1, 2020 to July 14, 2020 until July 15, 2020....more
7/8/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Federal Taxes ,
Filing Deadlines ,
Filing Requirements ,
Income Taxes ,
IRS ,
Popular ,
Relief Measures ,
Required Forms ,
Tax Extensions ,
Tax Returns
In 2016, the Obama administration issued a series of rules and regulations designed to stem the flow of corporate inversions – transactions where U.S. corporations moved offshore to avoid the high 35% U.S. corporate tax rate....more
11/5/2019
/ Corporate Taxes ,
Deregulation ,
Financial Regulatory Reform ,
Foreign Corporations ,
Inversion ,
IRS ,
Regulatory Burden ,
Section 385 ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Trump Administration ,
U.S. Treasury
As I recently discussed on this blog, the recent tax reform has brought new tax rates and deductions, which reopen the question whether your choice of entity is still right under these new rules. ...more
After many years of being the target of Congress and the IRS, the Tax Cut and Jobs Act finally succeeded in limiting the beneficial tax treatment of carried interests, at least for some taxpayers. This change will be of...more
3/2/2018
/ Business Taxes ,
Carried Interest Tax Rates ,
Corporate Taxes ,
Future Tax Treatment ,
Income Taxes ,
Investment Funds ,
New Legislation ,
Real Estate Development ,
Real Estate Market ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration
One of the most publicized changes made by last year’s Tax Cut and Jobs Act was a reduction in income tax rates for corporations and individuals. The maximum corporate tax rate has been permanently reduced from 35% to 21%,...more
2/26/2018
/ Business Formation ,
Choice of Entity ,
Corporate Taxes ,
Income Taxes ,
Partnerships ,
Pass-Through Entities ,
S-Corporation ,
Tax Cuts and Jobs Act ,
Tax Liability ,
Tax Planning ,
Tax Reform
The Tax Cut and Jobs Act made several important changes to the net operating loss (“NOL”) rules. The following is a brief discussion of these changes. Businesses that generate significant NOLs, such as real estate companies...more
The Tax Cut and Jobs Act introduced a new rule limiting a businesses ability to deduct interest expense, which can have a significant impact in the senior living area as facilities often are acquired or built using debt....more
Last month, President Trump signed into law the much publicized Tax Cut and Jobs Act. In part of our ongoing series discussing the changes made by the Act, the following answers five common questions regarding the new...more
2/2/2018
/ Corporate Taxes ,
Income Taxes ,
Net Operating Losses ,
New Legislation ,
Pass-Through Entities ,
Passive Activity ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
Last month, President Trump signed into law the much publicized Tax Cut and Jobs Act. In part of our ongoing series discussing the changes made by the Act, the following answers six common questions regarding the new Section...more
Last month, President Trump signed into law the much publicized Tax Cut and Jobs Act. In part of our ongoing series discussing the changes made by the Act, the following discusses key changes made to the expensing and...more
1/19/2018
/ Bonus Depreciation ,
Business Taxes ,
Compensation & Benefits ,
Corporate Taxes ,
Income Taxes ,
MACRS ,
New Legislation ,
Section 179 Property ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration
Last month, President Trump signed into law the much publicized tax reform legislation, Public Law 115-97. One of the new provisions is Section 199A, which introduces a deduction for qualified business income. Here are the...more
President Trump signed the tax reform bill into law today....more
12/22/2017
/ Alternative Minimum Tax ,
Compensation & Benefits ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
International Tax Issues ,
Pass-Through Entities ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Tax-Exempt Bonds ,
Trump Administration
Congress has passed the Tax Cuts and Jobs Act, and President Trump is expected to sign it almost immediately. ...more
12/21/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Pass-Through Entities ,
Proposed Legislation ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Tax-Exempt Bonds ,
Trump Administration
This morning, Congress passed the Republican’s tax reform bill, the Tax Cuts and Jobs Act (the “Act”). President Trump is expected to sign the Act into law almost immediately. The Act will drastically change the Internal...more
12/20/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Pass-Through Entities ,
Proposed Legislation ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
The House Republican’s tax reform bill – the Tax Cuts and Jobs Act – was released yesterday. This bill is 429 pages (this is simplifying?) and provides for extensive tax reform. ...more
11/3/2017
/ Adoption ,
Alternative Minimum Tax ,
Business Taxes ,
Child Tax Credit ,
Corporate Taxes ,
Energy Tax Incentives ,
Estate Tax ,
Generation-Skipping Transfer ,
Income Taxes ,
International Tax Issues ,
Local Taxes ,
Mortgage Interest ,
Pass-Through Entities ,
State and Local Government ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Transfer Taxes ,
Trump Administration
The House Republican’s tax reform bill – the Tax Cuts and Jobs Act – was released today. This bill is 429 pages (this is simplifying?) and provides for extensive tax reform....more
11/2/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Charitable Donations ,
Corporate Taxes ,
Estate Tax ,
Excise Tax ,
Foreign Earned Income ,
Generation-Skipping Transfer ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Net Operating Losses ,
Pass-Through Entities ,
Proposed Legislation ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
Today, House Ways and Means Committee Chairman Brady introduced the much anticipated House Tax Reform Bill – The Tax Cuts and Jobs Act. The bill is 429 pages, so it will take a little time to digest all the key provisions. ...more
11/2/2017
/ 401k ,
Alternative Minimum Tax ,
Business Taxes ,
Child Tax Credit ,
Congressional Committees ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
International Tax Issues ,
LIHTC ,
Local Taxes ,
Pass-Through Entities ,
Property Tax ,
State and Local Government ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
House Ways and Means Committee Chairman Kevin Brady announced that the House’s tax reform bill will be released next week on November 1. ...more
10/30/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
Ways and Means Committee ,
Wealth Management
After months of speculation, President Trump and the Republicans have announced their framework for tax reform. While specific details are not known, the key elements of the framework include...more
After months of speculation, President Trump and the Republicans have finally announced their framework for tax reform. While specific details are not known, the key elements of the framework include:
- Reducing the...more
Earlier this year, President Trump issued Executive Order 13789, which ordered the Treasury Department to review all significant tax regulations issued after December 31, 2015 and identify regulations that impose an undue...more
7/18/2017
/ Business Taxes ,
Corporate Taxes ,
Estate Tax ,
Foreign Corporations ,
Generation-Skipping Transfer ,
IRS ,
REIT ,
RICs ,
Section 103 ,
Section 337 ,
Section 385 ,
Tax Reform ,
Trump Administration ,
U.S. Treasury
Responding to a Trump Executive Order, the Treasury Department has reviewed all significant tax regulations issued after December 31, 2015 and identified eight regulations to be reformed to mitigate the burden that the...more
7/12/2017
/ Corporate Taxes ,
Estate Tax ,
Executive Orders ,
Foreign Corporations ,
Gift Tax ,
GST ,
IRS ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Tax-Exempt Bonds ,
Transfer of Assets ,
Trump Administration ,
U.S. Treasury
Despite the political controversy swirling around the firing of James Comey and the appointment of a special prosecutor, the White House and Republicans are determined to push forward with tax reform. Later this week,...more