Most CPAs practicing in the not-for-profit sector understand what a donor advised fund (DAF) is and how it is used to benefit both donors, as…
First Look at the Tax Cuts and Jobs Act
Impact on Exempt Organization Employers and Employees
Since President Donald Trump signed the Tax Cuts and Job Act (TCJA) on December 22, 2017, not-for-profit and tax-exempt organizations have been analyzing the impact…
U.S. Tax Residency
Some Black-and-White Rules, Some Gray
When advising taxpayers or preparing returns, bright-line rules are generally the easiest to explain and to handle. In contrast, tax outcomes that depend on facts…
First Look at the Tax Cuts and Jobs Act
Questions and Answers on the Qualified Business Income Deduction
The Tax Cuts and Jobs Act of 2017 (TCJA) introduced a new write-off for owners of pass-through entities that runs from 2018 through 2025. This…
First Look at the Tax Cuts and Jobs Act of 2017
Impact on Estates and Trusts
On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump. Most of the provisions affecting estates and…
First Look at the Tax Cuts and Jobs Act of 2017
Impact on State Taxation
On December 22, 2017, President Trump signed into law H.R.1, the Tax Cuts and Jobs Act (TCJA). This law represents significant and complex changes to…
Connecticut Legislative Update
Personal, Corporate, and Estate and Gift Tax Changes
CPAs need to be aware of recent legislative developments at the state level in order to properly advise taxpayers doing business in multiple jurisdictions. After…
First Look at the Tax Cuts and Jobs Act of 2017
Impact on Investors
The year 2017 was a dramatic time for investors. The stock market rose by about 40%, swelling most investor portfolios and retirement savings. The Tax…
First Look at the Tax Cuts and Jobs Act of 2017
Impact on Businesses
On December 20, 2017, Congress passed a major tax package (H.R. 1) designed to cut taxes on businesses and individuals, as well as to stimulate…
U.S. Macro Outlook for Tax Reform
A Plan That Doesn’t Get It Done
The sweeping changes to the tax code passed by the Trump administration and the Republican Congress will significantly impact the near-term economic outlook. The $1.5…
The Tax Cut and Jobs Act (TCJA) was signed into law by President Trump on December 22, 2017 and is the most comprehensive tax law…
A Tough Tax Act to Follow
A Piecemeal Approach to Reform that Will Need Its Own Reform
In order to meet legislative rules that would have required some bipartisan support, the Republicans have passed historic and comprehensive tax reform legislation that is…
First Look at the Tax Cuts and Jobs Act of 2017
Impact on Individuals
On December 20, 2017, Congress passed the Tax Cuts and Jobs Act (H.R. 1) designed to cut taxes on individuals and businesses, stimulate the economy,…
Congress and the SALT Deduction
Past, Present, and Future
The Tax Cuts and Jobs Act (P.L. 115-97) (TCJA) represents the most significant overhaul of the tax system in decades. One of the most contested…
CPAs need to be aware of current developments in key states in order to properly advise companies doing business in multiple jurisdictions. This article will…