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Tags archive: tcja

Home /Tag: tcja
Featured

Did the Tax Cuts and Jobs Act Really Lower Corporate Taxes?

Preliminary Evidence from the S&P 500 and Apple Inc.

By  Gene J. Kovacs, PhD and Saeed J. Roohani, PhD

December 2021 0

In Brief The Tax Cuts and Jobs Act (TCJA) of 2017 modified several aspects of corporate income tax rules, including a key change to the…

Featured

Proposed Regulations Provide Guidance on Deducting Fines and Penalties Paid to the Government

Important Questions Still Remain

By  Kevin M. Flynn, JD

October 2020 0

Since 1969, Internal Revenue Code (IRC) section 162(f) has disallowed an ordinary and necessary business deduction in computing taxable income for any civil or criminal…

Featured

ICYMI | Analysis of the Initial Financial Statement Impact of the Tax Cuts and Jobs Act

By  Kim Honaker, DBA, CPA and Paula B. Thomas, CPA, DBA

February 2020 0

In Brief The Tax Cuts and Jobs Act of 2017 (TCJA) is generally considered the most significant tax legislation since the Tax Reform Act of…

Featured

ICYMI | The Status of the ‘Marriage Penalty’

An Update from the Tax Cuts and Jobs Act

By  Allen J. Rubenfield, JD, CPA and Ganesh M. Pandit, DBA, CPA (inactive), CMA

February 2020 0

One of the objectives behind a progressive income tax structure is to achieve a redistribution of wealth by imposing higher taxes on those who earn…

Featured

The Impact of the Tax Cuts and Jobs Act’s Repatriation Tax on Financial Statements

By  Yi Ren, CPA, PhD, Jomo Sankara, PhD, CGMA, ACMA and Madeline Trimble, PhD

February 2020 0

In Brief The Tax Cuts and Jobs Act of 2017 lowered the corporate tax rate, but not all of its provisions reduced the effective corporate…

Feature Articles

ICYMI | Estate Planning after the Tax Cuts and Jobs Act

By  Martin Shenkman, JD, CPA/PFS, AEP and Lamarr Butler-Parker, CFP

December 2019 0

Many articles have been written about how the changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) will affect estate planning. These…

Featured

Reducing Federal Income Tax with Qualified Charitable Distributions

How to Preserve a Tax Write-Off

By  Peg Horan, PhD, CPA and Alexis Ferro

November 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) overhauled federal taxation for individuals and businesses. There were numerous changes made to the tax law,…

Featured

IRS Tax Reform Resources

By  Susan B. Anders, PhD, CPA/CGMA

November 2019 0

Tax professionals will be pleased to discover that the IRS is slowly but surely adding Tax Cuts and Jobs Act of 2017 (TCJA) resources to…

Featured

Qualifying Expenses for the Expanded Research and Development Credit

A Closer Look at the TCJA Impact

By  Richard Ray, PhD, CPA and Nicholas C. Lynch, PhD

November 2019 0

In Brief Research and development (R&D) produce innovations that drive growth and prosperity. Recent legislation, including the Tax Cuts and Jobs Act and the Protecting…

Featured

The Continuing Fight over the SALT Deduction Cap

By  Corey L. Rosenthal, JD and Lance E. Rothenberg, JD, LLM

November 2019 0

Several northeastern states are finally in agreement with regard to the imposition of state and local taxes (SALT). To this end, Connecticut, New Jersey, and…

Feature Articles

ICYMI | Tax Cuts and Jobs Act: Impact at Different Stages of Life

By  James R. Grimaldi, CPA, James A.J. Revels, CPA and Sidney Kess, JD, LLM, CPA

October 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) made dramatic changes to the rules for individuals that affect tax planning at all stages of…

Featured

The Death Knell for SALT Cap Workarounds?

Treasury’s Final Regulations Uphold the $10,000 Cap

By  Kevin M. Flynn, JD

October 2019 0

The itemized deduction for state and local taxes (SALT) under Internal Revenue Code (IRC) section 164 had long provided relief to taxpayers residing in high…

Featured

Earning Real Income from Fantasy Sports

Tax Opportunities and Pitfalls under the TCJA

By  Andrew D. Gross, PhD, CPA, Jamie Hoelscher, PhD, CFE, CIA, Marc Ortegren, PhD and William E. Maas, JD, CPA

June 2019 0

According to the Fantasy Sports Trade Association (FSTA), fantasy sports is a $7 billion industry, with 59.3 million people in the United States and Canada…

Featured

ICYMI | Tax Cuts and Jobs Act: Impact on Individuals at Different Stages of Life

By  James R. Grimaldi, CPA, James A.J. Revels, CPA and Sidney Kess, JD, LLM, CPA

June 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) made dramatic changes to the rules for individuals that affect tax planning at all stages of…

Featured

ICYMI | Post-TCJA Qualified Personal Residence Trust Planning

By  Martin Shenkman, JD, CPA/PFS, AEP

May 2019 0

In Brief The sweeping changes of the Tax Cuts and Jobs Act (TCJA) have prompted reconsideration of many financial plans. The realm of estate planning…

Featured

Could the Tax Cuts and Jobs Act Mean More State Income Tax Audits?

By  Michael Sardar, JD

May 2019 0

The Tax Cuts and Jobs Act (TCJA), signed into law on December 22, 2017, delivered sweeping changes to the federal tax code. These changes brought…

Featured

ICYMI | Tax Cuts and Jobs Act: Impact on Donor Advised Funds

By  Ronald Ries, CPA, CGMA

May 2019 0

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…

Featured

ICYMI | Tax Cuts and Jobs Act: Impact on Individual Charitable Giving

By  Mark A. Nickerson, CPA, CMA

May 2019 0

On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump. Numerous revisions to the tax code, most…

Featured

Changes Affecting Connecticut Personal Income Taxes

A Refresher of Key Revisions

By  Corey L. Rosenthal, JD and Cynthia Galamgam, JD, LLM

May 2019 0

The Tax Cuts and Jobs Act of 2017 made significant revisions to federal personal income taxation. In response, the Connecticut General Assembly enacted legislative changes…

Featured

ICYMI | Tax Cuts and Jobs Act: Impact on Exempt Organization Employers and Employees

By  David Trimner, CPA, MST and Karen A. Gries, CPA

May 2019 0

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…

Featured

How Collectors Can Utilize the Opportunity Zone Program

Investors See a Potential Replacement for Like-Kind Exchanges

By  Sidney Kess, JD, LLM, CPA and Michael Kelley

April 2019 0

For many investors in art, coins, or fine wine, their investments are their passion. The pride of ownership and the beauty they bring into the…

Featured

New Risks and Potential Rewards in Roth IRAs

By  Sidney Kess, JD, LLM, CPA and James R. Grimaldi, CPA

March 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) contains both positive and negative news for Roth IRAs. Some of the implications are obvious, but…

Featured

New York State Decouples from Certain Federal Personal Income Tax Changes

An Overview of Key Changes

By  Corey L. Rosenthal, JD and Benjamin Wexler, JD

March 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) made significant changes to personal income taxation. In response to the federal tax law changes made…

Featured

An Analysis of the Initial Financial Statement Impact of the Tax Cuts and Jobs Act

By  Kim Honaker, DBA, CPA and Paula B. Thomas, CPA, DBA

February 2019 0

In Brief The Tax Cuts and Jobs Act of 2017 (TCJA) is generally considered the most significant tax legislation since the Tax Reform Act of…

Featured

ICYMI | Getting Divorced under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James A.J. Revels, CPA, James R. Grimaldi, CPA and Thomas K. Lauletta, JD

February 2019 0

Despite the best of intentions when couples say, “I do,” more than a few will find themselves eventually saying, “I don't.” Aside from the emotional…

Featured

Tax Cuts and Jobs Act Tools

By  Susan B. Anders, PhD, CPA/CGMA

February 2019 0

Many industry publications indicate that the Tax Cuts and Jobs Act of 2017 (TCJA) is high on CPAs' concern list, especially now that the new…

Featured

ICYMI | Getting Married Under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James A.J. Revels, CPA, James R. Grimaldi, CPA and Thomas K. Lauletta, JD

February 2019 0

More than 2.1 million couples get married in the United States each year (http://www.cdc.gov/nchs/nvss/marriage_divorce_tables.htm). Few probably give any thought to the tax implications of their…

Featured

Estate and Related Planning for Real Estate Developers under the TCJA

By  Steven M. Cohen, CPA and Martin Shenkman, JD, CPA/PFS, AEP

February 2019 0

Real estate developers and investors need to address estate planning. This need is likely not urgent, as it is unlikely that a Democratic House and…

Featured

The Status of the ‘Marriage Penalty’: An Update from the Tax Cuts and Jobs Act

By  Allen J. Rubenfield, JD, CPA and Ganesh M. Pandit, DBA, CPA (inactive), CMA

February 2019 0

One of the objectives behind a progressive income tax structure is to achieve a redistribution of wealth by imposing higher taxes on those who earn…

Featured

ICYMI | The Tax Cuts and Jobs Act of 2017: Impact on State Taxation

By  Corey L. Rosenthal, JD, Peter Rabinowitz, JD and Annie Yang

January 2019 0

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…

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