Searching Content by Thomas Vance LLM, JD from Ostrow Reisin Berk & Abrams ordered by Published Date Descending.
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IRS Provides Final QBI Real Estate Safe Harbor Rules
In February of this year, the IRS published a proposed safe harbor for owners of certain rental real estate interests who wanted to take advantage of the qualified business income (QBI) deduction
United States
18 Oct 2019
Additional Guidance On New Bonus Depreciation: Final And Proposed Regulations
Final regulations and additional proposed regulations were issued for the first-year 100% bonus depreciation deduction. The 2017 tax law expanded the deduction to 100% for qualified property ...
United States
10 Oct 2019
Cryptocurrency Payments For Legal Services: Should You "Byte" The Bullet?
Cryptocurrencies, like Bitcoin, are not going to replace traditional currencies any time soon, but a growing number of law firms have begun to accept these currencies as payment from clients.
United States
11 Jun 2019
IRS Provides QBI Deduction Changes Just In Time For Filing
The IRS has released final regulations and additional guidance on the QBI deduction just before the first tax season where taxpayers can claim the deduction.
United States
1 Feb 2019
Treasury Department Proposes Regulations On Business Interest Expense Limitation
The IRS released temporary guidance about the new interest expense limitation in April. Now, proposed regulations have been published that significantly expand on the temporary guidance.
United States
10 Dec 2018
Wayfair Update: Several States Expand Sales Tax Requirements As Of October 1
For more information, see our article on the South Dakota v. Wayfair, Inc. decision here: "Supreme Court Wants YOU to Collect Sales Tax: What Every Business Should do in the Wake of Wayfair."
United States
9 Oct 2018
Combining Businesses And Netting Losses For The Section 199A Pass-Through Deduction
The new Section 199A deduction can be up to 20% of qualified business income (QBI), but it is subject to limitations; including limits based on wages and qualified property.
United States
6 Sep 2018
IRS Proposes Pass-Through Deduction Regulations
The highly anticipated regulations regarding the deduction for up to 20% of qualified business income (QBI) have been proposed by the IRS.
United States
4 Sep 2018
Supreme Court Wants YOU To Collect Sales Tax: What Every Business Should Do In The Wake Of Wayfair
In South Dakota v. Wayfair, Inc., the U.S. Supreme Court handed down a landmark ruling giving state and local governments the green light to impose sales taxes collection requirements on out-of-state sellers.
United States
9 Jul 2018
IRS Sheds Light On New Limit On Business Interest Expense Deductions
The new tax law imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has raised some questions for taxpayers.
United States
8 Jun 2018
New Pass-Through Tax Provisions: The Devil Is In The Details
Owners can apply one of two limits based on wages and depreciable property.
United States
7 Jun 2018
Home Equity Interest Still Deductible For Many
In the past, interest on qualifying home equity debt was deductible regardless of how the loan proceeds were used.
United States
7 Jun 2018
New Budget Agreement Brings Additional Tax Changes
The Tax Cuts and Jobs Act (TCJA) swept in a tidal wave of changes to federal tax rules just seven weeks before Congress passed more legislation that could affect many taxpayers.
United States
6 Jun 2018
New Tax Law Provides Benefits For Businesses
The new law contains a treasure trove for businesses that qualify for tax breaks. Most companies and business owners will see lower tax bills under the new tax law, but there are a number of tax ...
United States
9 Jan 2018
How Will The New Tax Legislation Affect Your Estate Plan?
The new tax legislation makes many changes to individual and corporate tax rates, eliminates a host of deductions and credits, enhances other breaks and makes numerous additional changes.
United States
3 Jan 2018
Big Changes For Individual Taxpayers Under New Law
The recently passed tax bill, commonly called the Tax Cuts and Jobs Act (TCJA), is the most sweeping federal tax legislation in more than three decades
United States
28 Dec 2017
Senate Proposal Accelerates Gains On Investment Account Assets
Under the Senate's version of the pending tax legislation, owners of stocks and bonds will no longer be able to specifically identify which portion of the securities are being sold or transferred.
United States
12 Dec 2017
House And Senate Tax Bills Head To Reconciliation
Early in the morning on December 2, the U.S. Senate passed its version of the Tax Cuts and Jobs Act by a vote of 51 to 49.
United States
6 Dec 2017
Four Financial Threats To Your Firm's Long-Term Success
With the economy on the upswing, many firms are feeling flush, but current success may mask hidden financial danger.
United States
4 Dec 2017
How Paralegals Affect Your Bottom Line
Although the roles and responsibilities of paralegals or legal assistants can differ widely by firm, these employees ideally should spend minimal time performing clerical or other work suited to legal...
United States
31 Aug 2017
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