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For nearly 70 years, businesses have enjoyed the option of fully deducting their research and experimental (R&E) expenses. Due to the 2017 Tax Cuts and Job Act, businesses may need to prepare for this to change. Continue Reading
While commentators have predicted that SECURE 2.0 will be enacted by the end of the year, the bill's future remains uncertain. Continue Reading
The new rules surrounding business meal and entertainment deductions in the Tax Cuts and Jobs Act (TCJA) left many practitioners looking for further guidance on accurate documentation of expenses. Learn about the history of the act, and how to navigate the new TCJA rules. Continue Reading
Capital gains rates may be increasing, leading to a spike in investor interest in opportunity zone funds. Continue Reading
This week's topics: Supreme Court finds no status for challenging ACA due to TCJA changes; IRS backlog was huge at May 1 which causes two pieces of guidance to be issued: Do not file Form 990-EZ on paper and offer in compromise program changes put in place due to backlog. Continue Reading
This week's topics: A taxpayer is denied permission to file a late mark to market election as a trader; final regulations are issued related to the TCJA unrelated business income changes; like kind exchange regulations finalized by the IRS. Continue Reading