Recently, President Donald Trump signed the bill known as the One Big Beautiful Bill Act (OBBBA) into law. OBBBA permanently extends many provisions of the Internal Revenue Code (Code) introduced by the Tax Cuts and Jobs Act...more
7/17/2025
/ Bonus Depreciation ,
Internal Revenue Code (IRC) ,
IRS ,
One Big Beautiful Bill Act ,
Private Equity ,
Qualified Business Income ,
Qualified Small Business Stock ,
Research and Development ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Reform ,
Venture Capital
President Trump’s budget permanently extends numerous provisions of the Internal Revenue Code from the Tax Cuts and Jobs Act (TCJA) of 2017 scheduled to expire at the end of 2025 and includes several changes that will have...more
7/15/2025
/ Bonus Depreciation ,
Business Taxes ,
Federal Budget ,
Housing Market ,
Income Taxes ,
LIHTC ,
Low Income Housing ,
One Big Beautiful Bill Act ,
Opportunity Zones ,
Real Estate Investments ,
Real Estate Market ,
Real Estate Transactions ,
Rural Development ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Reform ,
Trump Administration
On January 31, 2024, the United States House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 (TRAFW Act), which is now under consideration in the Senate. The TRAFW Act, in addition to...more
Pennsylvania Governor Tom Wolf signed Act 72 of 2018 into law last week. Act 72 will allow Pennsylvania corporate net income tax (CNIT) taxpayers to use the federal Modified Accelerated Cost Recovery System (MACRS), but not...more
The Pennsylvania Department of Revenue (the Department) announced in Corporation Tax Bulletin 2017-02 that taxpayers subject to corporate net income tax (CNIT) must add back all bonus depreciation when calculating CNIT...more