Tag Archives: tax

What to Know About New Limitations on the Deduction of Business Interest

The Tax Cuts and Jobs Act made sweeping modifications to the Internal Revenue Code, including a much lower corporate tax rate, changes to credits and deductions, and a move to a territorial system for corporations that have overseas earnings. One of the major provisions of the Act changes the deductibility of business interest expense.

Posted in CPA & Business Advisory | Tagged , , , , , , , , | Leave a comment

Tax Reform Expands Section 529 Deductions for Education to Include K-12 Costs

Until now, 529 distributions were tax-free only for college expenses. The enactment of the Tax Cuts and Jobs Act in December expands the tax-free withdrawals for K-12 private school and home schooling costs.

Posted in CPA & Business Advisory, Mailchimp RSS | Tagged , , , , , , , , , | Leave a comment

Why Did I Get Taxed on My Employer-Owned Life Insurance Benefit?

Hidden inside the Pension Protection Act is a provision regarding Employer-Owned Life Insurance (EOLI) that could cost your business hundreds of thousands of dollars.

Posted in Aurum Wealth Management, Mailchimp RSS | Tagged , , , , , , , , | Leave a comment

2017 Updates on Loss Reserve and Salvage Discount Factors

Every year, the U.S. Treasury Department releases discount factors by accident year and for each line of business. Under certain circumstances, a company may elect to create its own discount factors based on its own experience for unpaid losses and loss adjustment expenses (LAEs). However, this is not an option for salvage and subrogation.

Posted in CPA & Business Advisory, Mailchimp RSS | Tagged , , , , , , , , , , , , , , | Leave a comment

The Cost Segregation Secret to Permanent 2017 Tax Savings

With the change in the tax law that became effective January 1, 2018, many taxpayers will benefit from lower income tax rates beginning in 2018.

Posted in CPA & Business Advisory, Mailchimp RSS | Tagged , , , , , , , , , | Leave a comment

Tax Refund Opportunity — Ohio Business Income Deduction Extended to Payments Made to Pass-Through Owners Through a PEO

If you are a business owner and your compensation was paid through a professional employer organization (PEO), you may be entitled to a tax refund.

Posted in CPA & Business Advisory, Mailchimp RSS | Tagged , , , , , , , , , | Leave a comment

The End of Alimony as We Know It

As a result of the Tax Cuts and Jobs Act of 2017, alimony payments will no longer be deductible under divorce agreements entered into after December 31, 2018. So, what does this change mean for divorcing spouses and their counsel? Simply put, alimony payments will no longer be taxable to recipients.

Posted in Mailchimp RSS, Valuation & Litigation Services | Tagged , , , , , , , , , | Leave a comment

Tax Cuts and Jobs Act: State Income Tax IRC Conformity Tracker

Recent federal reform changes have already had many effects on state income taxation. As states scramble to measure the impact on their bottom line, we can expect many states to begin making changes accordingly.

Posted in CPA & Business Advisory, Mailchimp RSS | Tagged , , , , , , , , , | Leave a comment

Tax Reform Goes International – New “GILTI” Provisions

When the Tax Cuts and Jobs Act became law on December 22, 2017, most taxpayers were focused on the individual and business tax reform changes. However, international taxpayers may have overlooked the less televised international tax provisions included in this bill, which could have a significant impact on these taxpayers.

Posted in CPA & Business Advisory, Mailchimp RSS | Tagged , , , , , , , , , , | Leave a comment
© Copyright 2018 Skoda Minotti | Privacy Policy | Disclaimer | Remote Support
Cleveland 440-449-6800 | Akron 330-668-1100 | Tampa 813-288-8826
Website designed and developed by Skoda Minotti Strategic Marketing