On July 4, 2025, President Trump signed into law the “One Big Beautiful Bill Act” (the “2025 Act”). The Act makes permanent some provisions originally enacted in 2017 as part of the Tax Cuts and Jobs Act (the “2017 Act”),...more
7/14/2025
/ Business Income ,
Business Taxes ,
Charitable Donations ,
Corporate Taxes ,
Estate Tax ,
GILTI tax ,
Income Taxes ,
New Legislation ,
One Big Beautiful Bill Act ,
Opportunity Zones ,
Over-Time ,
Qualified Small Business Stock ,
Research and Experiment Tax Credit ,
SALT ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Tax Legislation ,
Tax Planning ,
Tax Reform ,
Tipped Employees ,
Trump Administration
On May 22, 2025, the House of Representatives passed the “One Big Beautiful Bill Act” (the “Bill”) by a one vote margin. Set forth below is a summary description of some of the provisions of the Bill....more
5/23/2025
/ Business Taxes ,
Endowment Funds ,
Estate Tax ,
Federal Budget ,
GILTI tax ,
One Big Beautiful Bill Act ,
Proposed Legislation ,
SALT ,
State Taxes ,
Tax Deductions ,
Tax Legislation ,
Tax Rates ,
Tax Reform ,
Trump Administration
In April 2021, New York State enacted legislation providing for a new elective pass-through entity (PTE) tax on partnerships and Subchapter S corporations. The 2017 Tax Cuts and Jobs Act generally limits an individual’s...more
The Democrats’ “sweep” of the White House and both chambers of Congress means that it is all but inevitable that tax legislation will be introduced in 2021, but the razor-thin nature of the Democrats’ majority in Congress...more
The U.S. Senate and the House of Representatives have just passed the “Tax Cuts and Jobs Act” (the “Act"). President Trump is expected to sign the bill into law later this week. Once enacted, the Act will be the most...more
12/21/2017
/ Alternative Minimum Tax ,
Corporate Taxes ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
International Tax Issues ,
Local Taxes ,
Mortgage Interest ,
Net Operating Losses ,
Pass-Through Entities ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform
The U.S. Senate passed the “Tax Cuts and Jobs Act” early Saturday. The House of Representatives passed its version of this tax legislation on November 16th. The House and Senate will now begin the process of reconciling...more