Opportunity Zones Explained: IRS Guidance Updates
On June 4, 2020, the IRS released Notice 2020-39 which provides relief under the federal Qualified Opportunity Zone (“QOZ”) program as follows:
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CARES Act Provides Technical Amendment to Qualified Improvement Property
Bonus Depreciation Creates an Opportunity, but Requires an Overall Tax Analysis The 2017 Tax Cuts and Jobs Act (“TCJA”) amended IRC section 168(k) to...
Siemer Milling Company v. Commissioner: Siemer Down! It Wasn’t All Bad for the R&D Tax Credit
April 15 is usually a happy day for tax practitioners and taxpayers alike. April 15, 2019 was not a happy day for Siemer Milling Company and their...
“Small” Business Gets Bigger After TCJA: How a Change to Cash Method of Accounting Could Save Qualifying Businesses Money
Advantageous Tax Accounting Method After Tax Reform May be Available The Tax Cuts and Jobs Act of 2017(TCJA) included many headline-grabbing changes...
Tax Reform’s Impact on the Federal Historic Tax Credit
Real property owners and developers often consider the federal Historic Tax Credit (HTC) when evaluating whether to acquire and substantially...
Determine if You’re GILTI Using this Calculator
A Good First Step On Your Journey To GILTI Compliance Or Avoidance In a blog post I wrote a few weeks ago, I talked about two new international tax...
International Tax Accounting: Mandatory Repatriation “Toll Tax” of Income Earned by Controlled Foreign Entities
The Tax Cuts and Jobs Act signed into law by President Trump has been at the forefront of the national news since its passage in December. There are...
New York State Tax Credits for Agricultural Activities
New York farmers often overlook credits that can result in significant savings at tax time. People from around the world identify New York with...