Monthly Archives: January 2018

Tax Reform Seminar Materials

Posted on January 25, 2018 by Joseph Saka

On January 18, 2018, several of our tax and consulting leaders presented an overview of the Tax Cuts and Job Act and offered thoughts on strategies for high-net-worth individuals, families, entrepreneurs and businesses. More than 300 clients and friends attended the programs and many have requested copies of the slides used by our presenters. For […]

Disregarded Entities with Foreign Ownership Face Immediate Challenges and Opportunities Filing 2017 Tax Returns by Arthur J. Dichter, JD, LLM

Posted on January 22, 2018 by Arthur Dichter

The media is rightfully paying significant attention to the U.S.’s new tax laws effective for the 2018 tax year. However, foreign persons with direct or indirect ownership in certain U.S. entities and structures should not forget that they have an important and immediate new filing requirement effective for the 2017 tax-filing season, which begins in […]

Rules Regarding the Collection of Internet Sales Tax Face a Potential Reversal by Karen A. Lake, CPA

Posted on January 22, 2018 by Karen Lake

The U.S. Supreme Court has agreed to hear a case challenging a 26-year-old law regarding how businesses collect and pay sales tax for online transactions. E-commerce has surged since the court’s 1992 decision in Quill Corp. v. North Dakota, which prohibited states from collecting sales tax on online purchases in which a business does not have a physical […]

Tax Reform Brings Favorable but Complicated Treatment of Pass-Through Business Income by Thomas L. Smitha, JD, CPA

Posted on January 21, 2018

While the Tax Cuts and Jobs Act (TCJA) reduces the corporate tax rate significantly from 35 percent to a flat 21 percent, the tax rate on income earned by many pass-through entities organized as LLCs, partnerships, S corporations, or sole proprietorships is also reduced albeit in a more complicated manner.  According to the Brookings Institute, approximately […]

IRS Extends Employers’ Affordable Care Act Reporting Deadline, Provides Taxpayers with Relief when Filing 2017 Tax Returns by Adam Cohen, CPA

Posted on January 18, 2018 by Adam Cohen

Despite a repeal of the individual insurance mandate that is included in the Tax Cuts and Jobs Act that went into effect on Jan. 1, 2018, U.S. taxpayers will still need to meet their 2017 Affordable Care Act reporting requirements on the tax returns they file this April. However, the IRS has reversed its earlier […]