Basics of Qualified Opportunity Zones, Funds and Tax Deferral of Capital Gains
By Jennifer Kobylarz, CPA, MST The Qualified Opportunity Fund (QOF) is a new type of investment which originated from the Tax Cuts and Job Act of 2017 (TCJA). It created new “Zones” or designations of economically distressed communities, where certain new investments (“Funds”) maybe eligible for federal capital gain tax deferral. These Qualified Opportunity Funds […]
Tax Cuts and Jobs Acts of 2017: Tax Implications of the new §199A Qualified Business Income Deduction
By Jennifer Kobylarz, CPA, MST The Tax Cuts and Jobs Act, passed in December 2017, created a new deduction under §199A. This deduction allows for all non-corporate taxpayers (i.e. individuals, trusts, and estates) to deduct: A maximum of 20% of Qualified Business Income (QBI) PLUS – 20% of Real Estate Investment Trust (REIT) dividends PLUS – […]
Tax Cuts and Jobs Acts of 2017: Tax Implications of Reinsurance Companies
By Jennifer Kobylarz, CPA, MST As a result of the Tax Cuts and Jobs Acts of 2017 (TCJA), there are some changes to insurance and reinsurance tax ramifications, specifically as it relates to foreign corporations and ownership. Reinsurance is defined as insurance by another insurer of all or a part of a risk previously assumed […]
Hope Scholarship Program: What it is and how it will be funded, from the State of Florida and beyond.
*This article is targeted to Automotive Dealers *Although the following information is specific to the State of Florida, we encourage you to read this article, as other states may adopt similar programs in the future. What is the Hope Scholarship Program? The State of Florida has created a new voucher program, called the Hope Scholarship Program, […]