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Congress Acts to Expose Sexual Harassment — But Protects Itself and Other Surprising HR Consequences of 'Tax Reform'

Elsewhere I have written about how the so-called “Tax Cuts and Jobs Act” — enacted this past December under the banner of “Tax Reform” — altered relationships between employers and employees. A closer look at three new...more

Baby Out With the Bathwater?

Has Congress (Inadvertently?) Repealed All Deductions Previously Allowed Under IRC 212, Not Just the De Minimis Deductions Identified in the Legislative History and Most Summaries of the TCJA? If So, What Does That Mean for...more

Blue States Try to Rescue SALT Deductions With Charitable Contributions

The so-called Tax Cuts and Jobs Act signed into law on December 22, 2017, changed the landscape for state taxation of individuals in one very significant way: starting this tax year, individual taxpayers can only deduct up to...more

These Aren’t the Marihuanas You’re Looking For: Potential Products Past the CSA

Here at Pipeline, we aim to keep our readers up to date on developments in the law that affect the cannabis industry. In that vein, we share two interesting articles from the venerable New York Times and wonder how Jeff...more

Congress Mutes the Impact of 280E

Sometimes the best place to hide something is in plain sight. That’s what Congress did in December when they passed the tax reform. In plain sight they (inadvertently?) muted the impact of 280E for corporate taxpayers....more

Impact of Tax Reform on Cannabis Businesses

On December 22, 2017 Present Trump signed into law what is commonly referred to as the “Tax Cuts and Jobs Act” (TCJA). The TCJA makes dramatic changes to federal income taxes and is likely to have downstream impacts in states...more

How IRC 199A and the New 20-Percent Tax Deduction for Small Businesses Works (or Doesn’t) for Sole Proprietors

By now our reading public is familiar with the newly created deduction under IRC § 199A. Indeed, many of you have already spoken with your tax adviser and they may have suggested converting your LLC (if taxed as a...more

Architects and Engineers Are Special and the New Tax Law Proves It

Architects and engineers are special in several ways, including: 1. Unlike most professional service firms, they tend to accumulate earnings over time (often to fund redemptions at retirement) instead of maximizing current...more

Depreciation, Bonus Depreciation and Other Changes of Interest for Real Estate Owners Under 2017 Tax Reform

We wrote an article explaining new IRC 199A — the flow through deduction that will materially benefit many owners of real estate — at least until the benefits of the lower tax rate are factored into the values paid for new...more

Choice of Entity Calculus Modified by Tax Reform in Light of the Qualified Business Income Deduction: IRC Section 199A

On December 22, 2017 President Trump signed H.R. 1 into law, bringing sweeping changes to tax law. This new law was known as the Tax Cuts and Jobs Act (TCJA) — that is, until a parliamentarian noticed that the bill needed to...more

Tax Reform and the HR Department: What You Need to Know Even If You Don’t Really Like Anything That Contains the Word TAX

On December 22, 2017 President Trump signed into law H.R. 1 — the Tax Cuts and Jobs Act — a sweeping tax reform law that promises to entirely change the tax landscape. Because no description of tax is ever free from...more

Impact of New Tax Provisions on M&A Deals

On December 22, 2017 President Trump signed into law H.R. 1 — a sweeping tax reform law that changes the tax landscape for many M&A deals. Congress initially labeled the bill as the “Tax Cuts and Jobs Act” but later removed...more

Valuing a Cannabis Business: Speculation & Risk

Determining the fair market value of an interest in a cannabis business is a difficult task. Existing and potential clients frequently ask us how cannabis businesses should be valued and whether or not there are any “trends”...more

Mind the Gap: Connecting CannaBusinesses and Investors

Lane Powell supports the Cannabis Investor Network (CIN) in Seattle. The mission of CIN is to connect accredited investors with state-legal cannabis businesses that need additional capital. Lane Powell hosted the inaugural...more

Medicinal marijuana patients’ protection from federal enforcement extended through the end of the fiscal year on September 30.

In the past five years, twenty-nine states and the District of Columbia (DC) have voted to legalize medicinal marijuana; and seven states and DC have legalized recreational marijuana use. The federal government has...more

Merging Wisely: Best Practices for Structuring Successful Non-Profit Mergers

A merger in the non-profit world is no less complicated than the merger of a for-profit corporation. But the metrics of success are different. Values-based organizations structured around achieving a mission—as opposed to...more

Recreational Cannabis — Section 280E and Tax Efficient Structuring

I. The Conflict: The long arm of federal law Recreational cannabis businesses operate in a world of conflicting state and federal laws. Several states have legalized recreational cannabis, yet, under federal law, cannabis...more

Rethinking Choice of Entity — Section 1202 Stock

We tax advisors spend plenty of time assessing whether a particular business is better suited operating as a flowthrough entity or as a tax-paying “C corporation.” Flow-through entities generally include sole...more

Recreational Cannabis — Section 280E and Tax Efficient Structuring

Recreational cannabis businesses operate in a world of conflicting state and federal laws. Several states have legalized recreational cannabis, yet, under federal law, cannabis remains an illegal Schedule I drug under the...more

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