Comprehensive list of all states and legislation passed related to the Wayfair matter
Revised State Tax Chart
Tax Cuts and Jobs Act: S Corporation vs. C Corporation
By Jennifer Kobylarz, CPA, MST Recent guidance by the IRS specifically addressed conversion of an S corporation to a C corporation, which has left a lot of business owners wondering if a change would be beneficial. The Tax Cuts and Jobs Act of 2017 (TCJA) lowered the top federal tax rate on a C Corporation […]
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 – […]