Tax Reform

  • The Latest Proposals on Qualified Opportunity Zone Businesses

    By:
    Michelle M. Jewett, JD, Kevin Matz, JD, Esq., CPA, LLM, Jeffrey D. Uffner, JD, LLM (taxation), Richard Madris, JD, and David C. Olstein, JD
    |
    Nov 1, 2019
    The new tax incentive added by the 2017 Tax Cuts and Jobs Act—designed to promote long-term growth in economically distressed areas known as qualified opportunity zones (QOZ)—is gaining interest among businesses and business owners interested in starting or expanding businesses in QOZs or moving existing businesses to QOZs.
  • Corporate International Tax Issues v2.0

    By:
    Cecil Nazareth, CPA, CA, MBA
    |
    Oct 1, 2019

    If you’re a CPA or a manager in a corporate finance department, it’s more important than ever to understand how the new tax law affects cross-border transactions and international tax. Since the Tax Cuts & Jobs Act (TCJA) was passed in late 2017, millions of individuals and entities have had to rethink their tax planning and tax structures completely. Going from a credit system to a territorial system is a monumental shift—you might as well be going from Earth to Mars. Everything you did in the past is no longer valid. You need to start fresh.

  • The New Moneyball

    By:
    Alan Pogroszewski, MBA, Kari Smoker, JD, and Keith Donnelly, JD, CPA
    |
    Sep 1, 2019

    In 2003, Michael Lewis’ book, Moneyball: The Art of Winning an Unfair Game, outlined the economic disadvantages the small-market Oakland A’s faced competing against the New York Yankees and other large-market teams. Lewis’ book also examined the A’s strategy of exploiting market inefficiencies in the valuation of Major League Baseball players to not only compete, but actually succeed, within the parameters of large-market and small-market teams. Such is the business of sports.

  • Recent Federal R&D Tax Credit Updates and Why CPAs May Want to Think Again About Going It Alone

    By:
    Mark A. Nickerson, CPA, CMA, MBA and Kaylei E. Russell
    |
    Jul 1, 2019

    The Research and Development (R&D) credit has become an integral part of tax planning for businesses in the United States since its inception almost forty years ago. The credit was originally enacted to help spur competitiveness and creativity for the United States compared to other countries.

  • Deep Dive Tax Cut and Jobs Act - Nonprofits

    By:
    Magdalena M. Czerniawski, CPA, MBA and Robert Lyons, CPA, MST
    |
    Jul 1, 2019
    The 2017 Tax Cut and Jobs Act (TCJA) created a number of significant roadblocks for non-profit organizations. The roadblocks came in two forms—transportation benefits and other. The Act itself created a great deal of uncertainty insofar as part of the effective dates were as of January 1, 2018, while others were for years beginning January 1, 2018.
  • The Tax Effect of Per Diem Rate for Individual Taxpayers Subject to DOT “Hours of Service” Rules

    By:
    Candelaria Zepeda & Andrew S. Griffith, DBA, EA, CPA, CMA, CIA, CFE, CRMA
    |
    Jun 1, 2019
    The Tax Cuts and Job Acts (TCJA) was ratified at the end of 2017 and placed into effect beginning with the 2018 tax year. Specific to unreimbursed employee expenses, the changes affect allowances in many industries; namely, a suspension of itemized deductions which includes meal and travel costs that are subject to the 2% adjusted gross income (AGI) floor.
  • IRC Section 163(j): Old Law vs. New Law

    By:
    Michael Billet, JD, CPA
    |
    May 1, 2019
    The Tax Cuts and Jobs Act (TCJA), enacted in late 2017, transformed the landscape of the Internal Revenue Code by giving birth to several new tax code sections. One of those new sections is Section 163(j), which limits the business interest expense deductible for certain taxpayers, with the disallowed amount carried forward to future tax years. The newly enacted Section 163(j) replaced its predecessor of the same name. 
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