Recruiting20Brochure202019.pdf

In an effort to prevent U.S. businesses from shifting profits offshore to low-tax countries, the Tax Cuts and Jobs Act imposes an annual tax on foreign income that exceeds 10 percent of a taxpayer’s return on all foreign depreciable assets, including plants, equipment and real estate. However, under this Global Intangible Low Taxed Income (GILTI) […]

Tax season is here, and most taxpayers are focused on gathering documentation to file their 2017 tax returns by the April 17, 2018, deadline. Yet, it’s also important for taxpayers to consider the cost-of-living adjustments that the IRS has applied to retirement plan contributions in 2018, which taxpayers will report on their returns in 2019. […]

The Florida legislature recently announced the creation of a seven-day Disaster Preparedness Sales Tax Holiday from June 1 to June 7, 2018. During this first week of the 2018 hurricane season, Florida residents will not be required to pay sales tax on hurricane-preparation supplies that include the following: Reusable ice costing $10 or less, Flashlights, […]

Taxpayers have until Sept. 28, 2018, to avoid criminal prosecution and steep penalties when they coming forward voluntarily and share with the IRS previously undisclosed foreign financial assets. The IRS announced that on that date it will end the Offshore Voluntary Disclosure Program (OVDP) that it implemented to encourage reticent taxpayers to come into compliance […]

The Tax Cuts and Jobs Act (TCJA) that reforms the U.S. Tax Code will have a significant impact on Canadians with businesses, investments, and residency in the United States beginning in the 2018 tax year. With these policy changes come a new way of thinking and a call for affected individuals and businesses to plan […]

There is no doubt that the Tax Code is made up of a complex set of rules with often-conflicting provisions that are subject to different interpretations. Making this understanding of the law even more difficult is the tax reform legislation that went into effect beginning on Jan. 1, 2018. Take, for example, the recent tax […]

The Tax Cuts and Jobs Act aims to make it impossible for businesses to continue using net operating losses (NOLs) to reduce their corporate tax liabilities to zero over more than two decades.   For taxable years beginning after Dec. 31, 2017, NOL carrybacks are eliminated for most business (excluding farming and insurance businesses), and […]