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
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Charitable Donations ,
Income Taxes ,
Internal Revenue Code (IRC) ,
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Limited Liability Company (LLC) ,
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Popular ,
Proposed Regulation ,
PTEs ,
S-Corporation ,
Safe Harbors ,
SALT ,
Scholarship Granting Organizations (SGOs) ,
State Taxes ,
Tax Credits ,
Tax Deductions ,
Tax Planning ,
U.S. Treasury
As 2019 comes to a close, while most people are busy making holiday plans, dutiful tax advisors and financial planners are burning the midnight oil to minimize their clients’ tax bills that will be due in a few short months....more
12/5/2019
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Charitable Donations ,
Corporate Taxes ,
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IRS ,
SALT ,
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Section 529 Program ,
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Tax Planning
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 ,
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Proposed Regulation ,
PTEs ,
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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
In the final hour of its 2019 legislative session, the Alabama Legislature passed a bill that should be a catalyst for the state’s efforts to recruit tech companies and to attract projects to rural communities. The bill also...more
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
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Charitable Donations ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Pass-Through Entities ,
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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