July 12, 2018
Attorney Morris Robinson's article
, "The Qualified Business Income Deduction (Section 199A): Interim Guidance" has been re-uploaded with the following testimonials:
"A great synopsis as well as a detailed analysis of a complex and almost maddening topic!" - Edward E. Pratesi, ASA, CM&AA, ABV, UHY Advisors N.E., LLC, West Hartford, CT.
"It was excellent, one of the best I've read on this topic. I've been teaching tax for almost 40 years and even with this experience, I'm struggling with this provision. Morris' explanations used the language of the Code and that was much appreciated. Thank you." - William N. Kulsrud, PhD, CPA, Indiana University Kelley School of Business - Indianapolis Emeritus.
A copy of this article was published by Lorman Education Services at their request. Lorman Education Services have provided continuing education services since 1987.
You may download the article for free. Click Here
May 30, 2018
The Tax Cuts and Jobs Act slashes business income tax rates on certain types of business income.
- The 20% Qualified Business Income Tax Deduction slashes the top individual income tax rate on certain business income from 37% to 6%.
- The 37.5% Foreign-Derived Intangible Income (FDII) Deduction slashes the C corporation income
April 18, 2018
On March 7, 2018, David J. Kautter announced that official guidance on the qualified business income deduction will not be available until the late summer or early fall. Mr. Kautter was responding to a letter dated February 21, 2018 from the American Institute of CPA’s (“AICPA”)
requesting immediate guidance to resolve the many ambiguities in the qualified business income deduction (Section 199A).
January 19, 2018
Last fall, the U.S. Tax Court decided the case of Smith v. Comm’r.
It’s not a pivotal case, but it stands as a good reminder of the adage “you don’t get something for nothing.” At the heart of the case was a complicated tax planning strategy using an ...
November 15, 2017
Earlier this year, the IRS Large Business and International division (LB&I) rolled out 13 compliance campaigns
to target both individual taxpayers and corporations for examinations on certain tax compliance issues. On November 3, 2017, IRS announced the identification of an additional
11 compliance campaigns to be conducted by ...
July 28, 2017
Like Napolean recognizing that an army marches on its stomach, the owners of the Boston Bruins know a hockey team needs to be well-fed to ensure optimal performance on game day. So, when the Bruins go on the road to play away-games, management plans ahead. With half of the Bruins’ ...