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, […]
U.S. Supreme Court Rules Online Retailers May Be Subject to State and Local Sales Tax Laws
From the Desk of Zach Wimberger, Tax Services Team On June 22, 2018, the Supreme Court made its ruling in the South Dakota v. Wayfair Inc. case that is likely to have effects on everyone from the casual internet shopper to some of the largest businesses in the country. Nexus, also called “sufficient physical presence,” […]
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 […]