There are more than 9,700 pages of the federal tax code.
The need to remain current in the relevant detail, even for just one industry or sector, is a daunting task. We offer extensive industry and tax experience delivered with a philosophy we call “The Next Level of Service”.
Many of our tax professionals joined the firm from Big 4 firms, where they worked with Fortune 1000 companies. They chose to join our firm because of our hands-on, participatory management style where we work to make a difference, and become the valued advisor to our clients.
Please click below to view our 2017 Tax Pocket Guide:
The Bipartisan Budget Act of 2018, passed by Congress and signed by President Trump on Feb. 9, 2018, retroactively extends over 30 tax provisions that had expired at the end of 2016. This one year extension applies to the extended provisions and is effective for 2017 only. Many of the extended provisions are related to energy credits which are especially important for businesses and individual taxpayers.
Signed into law in November of 2015, the Bipartisan Budget Act of 2015 made sweeping changes to the way partnerships are audited. These changes apply for tax years beginning after Dec. 31, 2017 and are intended to simplify the audit process for the Internal Revenue Service (IRS).
Under the recently signed Tax Cuts and Jobs Act, Congress added Section 199A, a new provision of the Internal Revenue Code that provides for a potential 20 percent deduction for an individual related to income from pass-through entities and other non-corporate tax structures. The deduction begins in 2018 and is scheduled to end after 2025.
With the impending decrease of the corporate tax rate to 21 percent, is it time to change your entity structure to a C corporation? There is no quick answer to this question. Each taxpayer is in a unique situation that would have to be evaluated in order to make the determination of which taxing structure is proper for that taxpayer.
With the tax bill almost complete, the estate and gift tax exemption will double to approximately $11,000,000 in 2018 for an individual or $22,000,000 if you are married.