The Tax Cuts and Jobs Act passed into law during December 2017 ushered in a new tax savings tool: Opportunity Zone investments. Regulatory guidance clarifying elements of the program has not been published, but Taxpayers nearing liquidity events can begin exploring whether an Opportunity Zone reinvestment strategy fits their business and wealth planning goals.
How do Opportunity Zone reinvestments work?
INSIDE Public Accounting (IPA) announces the release of its 2018 annual financial performance analysis and ranking of the nation’s largest public accounting firms. Roanoke, Virginia based Brown Edwards is among the group of the nation’s top 100 firms again this year, moving up four spots to #95. With the move up the list, Brown Edwards is
June 21, 2018 In what could be one of the most significant decisions on state taxation in the last 50 years, the Supreme Court today ruled on South Dakota v. Wayfair. In a 5-4 decision, the Court held that the physical presence requirement for state tax jurisdiction is incorrect and not a requirement under the
The Internal Revenue Service announced that it is providing taxpayers an additional day to file and pay their taxes following system issues that surfaced early on the April 17 tax deadline. Individuals and businesses with a filing or payment due date of April 17 will now have until midnight on Wednesday, April 18. Taxpayers do not need to do
The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has raised some questions for taxpayers. In response, the IRS has issued temporary guidance in Notice 2018-28 that taxpayers can rely on until it releases regulations.
The federal income tax filing deadline is slightly later than usual this year — April 17 — but it’s now nearly upon us. So, if you haven’t filed your individual return yet, you may be thinking about an extension. Or you may just be concerned about meeting the deadline in the eyes of the IRS.
Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible contributions will lower your 2017 tax bill, but even nondeductible contributions can be beneficial. Don’t lose the opportunity The 2017 limit for total contributions to
Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April
The Tax Cuts and Jobs Act (TCJA) has been touted for cutting the corporate tax rate, but the law also contains some valuable goodies for smaller businesses that operate as pass-through entities, including partnerships, limited liability companies, S corporations and sole proprietorships. These businesses stand to see their tax liabilities fall significantly, but determining just
The ink on the Tax Cuts and Jobs Act (TCJA), which swept in a tidal wave of changes to federal tax rules, had been dry for only seven weeks before Congress passed more legislation that could affect many taxpayers. The Bipartisan Budget Act of 2018 (BBA), which President Trump signed into law on February 9,
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