On December 16, the Internal Revenue Service (IRS) and the Treasury Department issued proposed regulations... that provide some good news and needed clarification for C corporations, individuals, and S corporations and other...more
12/19/2019
/ C-Corporation ,
Charitable Donations ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Pass-Through Entities ,
Popular ,
Proposed Regulation ,
PTEs ,
S-Corporation ,
Safe Harbors ,
SALT ,
Scholarship Granting Organizations (SGOs) ,
State Taxes ,
Tax Credits ,
Tax Deductions ,
Tax Planning ,
U.S. Treasury
Now that the dust has settled following the issuance of the final “SALT cap workaround” regulations by the Treasury Department, here’s a summary of those regulations, the IRS guidance issued in connection with the final...more
7/15/2019
/ C-Corporation ,
Charitable Donations ,
Final Rules ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Pass-Through Entities ,
Proposed Regulation ,
PTEs ,
Safe Harbors ,
SALT ,
Scholarship Granting Organizations (SGOs) ,
State and Local Government ,
State Taxes ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
U.S. Treasury
As automotive suppliers begin work on their 2018 tax returns and implement plans for their capital expenditures in 2019, suppliers should look at a potential tax credit to help offset the costs of tooling: the Research and...more
2/20/2019
/ Automotive Industry ,
Capital Expenditures ,
Car Dealerships ,
Corporate Taxes ,
Economic Development ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Manufacturers ,
R&D ,
R&D Tax Credits
Sometimes the law of unintended consequences is difficult to correct after the fact. The most recent example may be the 2017 Tax Cuts and Jobs Act’s $10,000 annual limitation on state and local tax deductions claimed by...more
1/4/2019
/ C-Corporation ,
Charitable Donations ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Pass-Through Entities ,
Proposed Regulation ,
PTEs ,
S-Corporation ,
Safe Harbors ,
SALT ,
Scholarship Granting Organizations (SGOs) ,
State Taxes ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
U.S. Treasury