Tax reform resource center

The new presidential administration and Congress have created much speculation and anxiety about how tax reform will proceed and who will be most affected by the result. As Valued Business Advisors, we are dedicated to keeping you abreast of significant tax reform proposals and enacted legislation.

As we anticipate many public statements and rumors about the nature and direction of such reform, we have developed our tax reform resource center for you. The intent of this body of insights is not to comment on or share all such statements and speculations; Rather, we will focus on what we know and areas where planning opportunities may be available ahead of any legislation.

At this point, we don’t expect to see a first mark-up from the House Ways and Means Committee until sometime in March. In the meantime we would like to comment on the status of carried interest taxation and the recent moratorium on federal regulations.

Baker Tilly tax specialists will be monitoring tax reform legislation as it moves through the late stages of discussion and will provide you with further updates. In the interim, if you have questions regarding tax reform or any other tax matter we encourage you to reach out to your Baker Tilly tax specialist.

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Tax reform framework released

Republican leaders revealed a new blueprint for tax reform, outlining principles expected to be used by the tax-writing committees in the House and the Senate.

The status of tax reform

Due to the challenges of enacting comprehensive tax reform, we expect that some alternative compromise will take shape in order to obtain a corporate rate reduction and some individual tax changes rather than a comprehensive tax reform package. We expect legislation to be drafted by late fall or early winter with a bill ready for the president’s signature early in 2018. In the meantime, we will continue to monitor and bring you any developments.

The future of cost segregation?

Learn about the advantages of performing a cost segregation study now and  the potential impact of proposed tax reform on cost segregation.

White House announces tax plan

President Trump released his blueprint for an overhaul to the tax system. The plan calls for major changes to the corporate tax rate and individual tax brackets.

Tax accounting method opportunities

Baker Tilly accounting methods and incentives specialists identify tax accounting method opportunities that may generate significant and potentially permanent cash tax savings for the 2016 tax year and beyond.

International tax reform on the horizon

Baker Tilly international tax specialists discuss how U.S. tax reform is likely to address the challenges associated with corporate inversions and the worldwide tax system.

Carried interest update

Baker Tilly national tax specialists review how carried interests would be taxed under proposed section 710 as well as the President’s and House’s tax reform proposals.

Accounting method change opportunity to reduce 2016 taxable income

An accounting method change may reduce 2016 taxable income under current tax reform proposals. These potential savings are based on the assumption that any tax reform legislation is both enacted and effective in 2017 versus becoming effective in 2018.

The carried interest debate

“Carried interest,” is a tax benefit both the Trump and Clinton campaigns targeted for repeal. While the fate of carried interests is uncertain, early identification of exposure and planning may help to mitigate some effects if the benefit is eliminated.

Presidential moratorium on federal regulations

Unpublished tax rules have been withdrawn in compliance with a new presidential memorandum. Read more on which tax regulations are impacted.

GOP, Trump taxes ding Texas, boost rich investors

The Trump Administration’s proposed border tax could pose both advantages and disadvantages for companies. Baker Tilly’s Vadim Blikshteyn recently spoke to Insurance News Net about the potential effect of the tax on Texas organizations.

What does the Trump administration and Republican-controlled Congress mean for your fund’s tax planning?

Learn more about how your investors and investments may be affected by new administration’s tax proposals by listening in to this Baker Tilly podcast.

2016 year-end business tax planning webinar

Specialists from our tax services practice speak to key proposals from the president-elect and the House including those on tax reform, repatriation and the Affordable Care Act.

Proposed tax reform its implications on individual and business tax

Baker Tilly tax specialists at every professional level are prepared and ready to adapt to forthcoming tax reform.

What Republican control means for tax legislation in 2017

What will the tax landscape look like in 2017 with Republicans taking control of the executive and legislative branches come January?

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely.  The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.