Will the New Pass-Through Deduction Work for You?
From the Desk of Jennifer Kobylarz, CPA, MST The Tax Cuts and Jobs Act, signed into law on December 22, 2017, created §199A – Qualified Business Income (QBI). This code section allows taxpayers, other than corporations, to deduct a portion of QBI from their taxable income. The code section is long and arduous, with several […]
Tax Bill Passed: What Now?
This week we saw the finality of the approved Tax Bill. Signed by President Trump the morning of December 22nd, things are finally official. Our team has been working diligently to prepare information for you to help clear through the clutter of the robust document, and find out what all this means to you. You […]
The House and Senate – Weeding through proposed Tax Reform
From the Desk of Jennifer Kobylarz, CPA, MST The House and Senate are currently working to reconcile the differences between their two tax reform bills. Until we have further clarification on a final bill, we have summarized these proposed changes and have listed them below. We will keep you updated as the final reconciliations are […]
Effect of Lower US Corporate Tax Rates on Canadian US Cross-border Structures
By Jennifer Kobylarz, CPA, MST Tax reform was a key part of President Donald Trump’s 2016 election campaign. Although no reform bills have been passed, the President has stated he wants the federal corporate tax rate cut from 35% to 15%. The US corporate tax rate is the third highest in the world. This has […]