News & Analysis as of

Income Taxes Estate Tax

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

The Tax Cuts and Jobs Act: An Overview and Four 2018 Planning Suggestions

by Faegre Baker Daniels on

For the first time in more than 30 years, the countdown to the New Year was also the countdown to major revisions to the tax code. The Tax Cuts and Jobs Act (Act) became law in late December 2017 and contains sweeping changes...more

How Four Different Areas of Life Are Affected by the New Tax Law

by Moskowitz LLP on

The Tax Cuts and Jobs Act, signed into law by President Trump on December 22, 2017, represents the biggest and most dramatic change to the U.S. tax code to take place in decades, and is expected to impact most everyone. Let’s...more

New U.S. Tax Law Leaves Non-U.S. Person Estate Tax Intact

by Jones Day on

Prior to the passage of the Trump Administration's new tax bill, many had speculated on two key possible impacts for non-U.S. person private wealth bank and brokerage clients—the elimination of the estate tax exemption...more

CPA Shoptalk: 8 Takeaways

On January 10th, 11th and 18th our tax attorneys ?hosted a "CPA Shoptalk" seminar in ?Portland, Vancouver and Bend. Below are ?some key takeaways to consider... 1. Partnership Audit Rules Post-TEFRA - The Balanced...more

2018 Key Trust & Estate Planning and Corporate Ownership Implications of the New Tax Law

by Perkins Coie on

With the passage of Public Law no. 115-97, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act), attorneys in Perkins Coie’s Trust & Estate Planning practice, along with our clients running closely...more

Estate Planning Implications of the Tax Cuts and Jobs Act

by Winstead PC on

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Act”) into law, ushering in some of the most sweeping changes to the Internal Revenue Code in over 30 years. While the Act substantially revises the...more

Three Key Aspects of the New Tax Law

The new tax law is lengthy and full of complex provisions. This article highlights three key aspects of the tax reform and how they may affect you. 1. The individual income tax rates have decreased and standard deduction...more

Trump Administration Signs 2017 Tax Act

by Davis Wright Tremaine LLP on

On December 22, 2017, President Trump signed a tax bill that had been passed by the Senate and House called “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for...more

The Real Property Business And The Tax Cuts & Jobs Act

by Farrell Fritz, P.C. on

The Tax Cuts and Jobs Act of 2017[1] went into effect only two weeks ago. Many of its provisions represent significant changes to the Code, and it will take most of us several months to fully digest them,[2] to appreciate...more

Tax Reform: Sweeping Changes To Federal Tax Law And The Impact On Businesses And Individuals

by Akerman LLP on

On December 22, 2017, President Trump signed into law what is commonly referred to as the "Tax Cuts and Jobs Act" (the "Act"). The Act makes significant changes to the Internal Revenue Code (the "Code") and affects a broad...more

PA Requires Oil and Gas Lessees to Withhold State Income Taxes from Nonresident Lessors

by Steptoe & Johnson PLLC on

Under Act 43 of 2017 beginning January 1, 2018, anyone that pays Pennsylvania-source non-employee compensation or business income to a non-resident individual or disregarded entity that has a non-resident member, and is...more

New Tax Changes: The Tax Cuts And Jobs Act

by Roetzel & Andress on

The Tax Cuts and Jobs Act (“Act”) (P.L. 115-97) signed into law by President Trump on December 22, 2017 and effective for tax years starting January 1, 2018 reflects a compromise between the House and Senate Bills as...more

Analysis of Key Provisions of the Tax Cuts and Jobs Act

by Ballard Spahr LLP on

As we are sure you know, H.R. 1, informally known as the Tax Cut and Jobs Act, became law on December 22, 2017. This new law will impact almost all taxpayers. Ballard Spahr's Tax Group has prepared a detailed summary of...more

Private Wealth Newsletter - Significant Changes to Estate, Gift, and Generation-Skipping Transfer Taxes

The recently-enacted Tax Cuts and Jobs Act significantly changes the tax landscape, beginning on January 1, 2018. Many of these changes will sunset on January 1, 2026, when the law reverts to the pre-2018 law. Congress could,...more

What You Should Know About Estate and Gift Tax Reform

by Stinson Leonard Street on

The tax bill recently passed by the U.S. Congress and signed by President Trump retains the gift and estate tax, but substantially curtails its reach. The new tax legislation represents a dramatic change to our transfer tax...more

A Concise Summary of the New Tax Law

by Fenwick & West LLP on

This summary describes some of the more significant changes made to U.S. federal tax laws by H.R. 1, the bill signed into law by President Trump on December 22, 2017. Except where otherwise noted, the changes take effect in...more

President Signs Tax Reform Bill

On December 22, 2017, the president signed the tax reform bill. It is generally identical to the conference committee bill discussed in our blog post of December 19, and specifically there were no changes with respect to...more

Impact on Gift, Estate, and GST Taxes Under the Tax Cuts and Jobs Act (H.R. 1)

by Ballard Spahr LLP on

The tax law known as the Tax Cuts and Jobs Act (H.R. 1), signed by President Trump on December 22, 2017, contains important changes to provisions governing gift, estate, and generation-skipping transfer (GST) taxes...more

The Territorial Tax System Under The Tax Cuts And Jobs Act

by Ifrah PLLC on

Last year, the Senate and House approved the Tax Cuts and Jobs Act along partisan lines; on December 21st, President Trump signed the bill into law. Nearly 1100 pages long, the Act makes a number of sweeping changes to the...more

New tax law’s doubling of estate tax exemption compels a review of your estate plan

by Thompson Coburn LLP on

On December 22, 2017, President Trump signed into law what is commonly known as the Tax Cuts and Jobs Act — perhaps a holiday gift for some or a lump of coal for others. Much of the political and journalistic debate about...more

Main Effects of U.S. Tax Reform on Foreign Taxpayers

by Holland & Knight LLP on

President Donald Trump signed the U.S. tax reform bill previously entitled the Tax Cuts and Jobs Act into law on December 22, 2017, enacting comprehensive U.S. tax reform with most provisions becoming effective starting on...more

Effect of the Tax Cuts and Jobs Act on Trust and Estate Planning

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, includes significant changes to the U.S. federal gift, estate, and generation-skipping transfer (GST) tax laws, effective as of January 1, 2018. In addition,...more

Impact of the Tax Law on Estate Planning

President Trump signed sweeping tax legislation into law on Dec. 22, 2017, resulting in several significant changes to the wealth transfer tax system, effective as of Jan. 1, 2018....more

Estate Planning Resolutions for 2018

by Ward and Smith, P.A. on

Another holiday season will have come and gone before we know it. For many, the start of 2018 will be a time of empty commitment to self-improvement because meaningful New Year's resolutions are frequently made but rarely...more

Summary of Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

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