Brady Expects “Phase Two” Tax Reform Outline by August
A "phase two" tax reform outline could be unveiled by
House GOP tax writers by August. Republicans have started to
increase their tax meetings related to the effort, House Ways and
Means Com...
Ways and Means Approves IRS Hiring, Agriculture Tax Reform Bills
House tax writers have moved two bills through committee. The bills
focus on IRS hiring and the tax treatment of mutual ditch
irrigation companies. The House Ways and Means Committee approved
the meas...
ABA Section of Taxation Writes Hatch, Wyden About IRS Reform
The American Bar Association (ABA) Section of Taxation has
expressed concerns to top Senate tax writers about certain
congressional IRS reform efforts. The ABA Section of Taxation sent
a June 6 letter...
Railroad Stock Options Are Not Money Remuneration Under RRTA
The U.S. Supreme Court has determined that nonqualified employee
stock options are not taxable compensation under the Railroad
Retirement Tax Act (RRTA). The term "money
remuneration" in the...
Shareholder Could Not Claim S Corporation’s FICA Tip Credits
An individual shareholder of an S corporation restaurant operator
was not allowed to claim FICA tip credits under Code Sec.
45B that the S corporation did not claim. The shareholder
could no...
Son-of-BOSS Arrangements
Participants in the Son of BOSS tax shelter have maintained their
perfect losing record in the Tax Court. Thus, another Son-of-Boss
deal has failed to produce its promised loss deductions. ...
Newsletters
Summer has finally arrived! This is a great time of the year to tackle some of those "important, not urgent" projects: Estate Planning, Document Retention Issues and of course Tax Planning, to name a few.
Remember, for those who have to make Estimated Tax Payments, the next due dates are September 17 and January 15 (although it may make sense to make your last State Estimate Payment on December 31).
There are still questions to answer on the Tax Cuts and Jobs Act passed in late 2017. Tax planning for 2018 will be essential this year. If you need assistance with this or in any other area, please do not hesitate to contact us.
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SMALL BUSINESSES: IS QUICKBOOKS FOR YOU? THERE'S A REASON IT'S THE NUMBER ONE SELLING SMALL BUSINESS SOFTWARE!
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