As Valued Business Advisors, we are dedicated to keeping you abreast of significant tax reform proposals and enacted legislation. This body of insights focuses on what we know now and areas where planning opportunities may be available.
If you have questions regarding tax reform or any other tax matter we encourage you to reach out to your Baker Tilly tax specialist.
FASB issued an Accounting Standards Update (ASU) and the FASB staff has issued several Staff Q&As that address various financial accounting and reporting impacts from the Tax Cuts and Jobs Act (TCJA).
Jacque Lee and Rob Kane analyze some of the new tax rules created by the Tax Cuts and Jobs Act (TCJA) and explain how breweries can benefit from these new measures.
Cooperatives are taxed differently than other pass-through entities, and a deduction was added to the TCJA for both cooperatives and their members under section 199A.
The Tax Cuts and Jobs Act ushered in new code section 199A, which not only gives pass-through businesses a 20 percent deduction, but also is one of the more complex provisions in the Act.
The new tax reform law will subject certain tax-exempt organizations to a 21 percent excise tax on “excessive” executive compensation payments.
The recently passed tax reform law made massive changes to the deductions businesses can take for meals, entertainment and other benefit-related expenses.
Learn more about how the Tax Cuts and Jobs Act (TCJA) will affect law firms and other similar professional services firms.
FASB released an exposure draft related to the reclassification of certain tax effects from accumulated other comprehensive income. The change is specific to impacts from tax reform only. The comment period closes Feb. 2, 2018.
The Financial Standards Accounting Board released a proposed Accounting Standards Update related to reclassification of other comprehensive income and the Securities and Exchange Commission released Staff Accounting Bulletin 118 related to accounting and disclosures.
FASB, SEC and NAIC release additional guidance for insurance organizations on accounting for impacts of tax reform
FASB released a proposed Accounting Standards Update (ASU) related to reclassification of other comprehensive income (OCI), the SEC released Staff Accounting Bulletin (SAB) 118 related to accounting and disclosures, and the NAIC released several pieces of guidance applicable to insurance organizations, all specific to impacts from tax reform.
Tax reform changes that affect individual income, gift and estate tax.
Untangling tax reform: bonus depreciation, recovery periods for real property and expanded section 179 expensing
See how the Tax Cuts and Jobs Act significantly changed the depreciation and expensing rules for business assets.
The new tax reform act ushers in new net operating loss rules for businesses and loss limitation rules for noncorporate taxpayers – significantly changing existing law.
The Tax Cuts and Jobs Act limits how much of deduction businesses can take for their interest expense.
Understand key provisions that could affect your financial institution with this detailed impact presentation.
This webinar highlights the tax reform provisions which impact manufacturing companies. The presentation also covers aspects of international tax reform that will affect multinational manufacturers
The hedge fund, private equity and alternative asset industries will be impacted by a number of tax provisions from the final tax reform bill, “Tax Cuts and Job Act,” signed into law on Dec. 22, 2017.
The IRS and Treasury Department’s first major guidance under the recent tax reform bill clarifies issues related to the new repatriation tax.
While the Act will simplify taxes for many Americans, many businesses and tax-exempt entities will find the computation of taxable income even more complex than in the past.
Since the Tax Cuts and Jobs Act was passed, many state and local officials, as well as commentators, have suggested prepaying such taxes by year-end to obtain a federal deduction prior to the limitation becoming effective.
The Tax Cuts and Jobs Act’s international tax provisions change the way U.S. multinationals are taxed and will conduct business abroad as well as how foreign companies will handle U.S. business.
In votes along party lines, Congress passed the most substantial tax reform since 1986. How will you and your tax bill be affected?
Companies will have little time to understand and react to the effects of the law. Planning should begin now to understand the potential impact to financial statements.
The following is a summary of the major insurance provisions included in both the Senate’s Tax Cuts and Jobs Act (TCJA) and the House’s tax reform bill.
Tax Cuts and Jobs Act (TCJA): selected insights and implications for U.S. manufacturers with foreign subsidiaries, the Senate version
The Senate’s version of the Tax Cuts and Jobs Act (TCJA) was passed on Dec. 2 and makes fairly consistent changes to the tax treatment of U.S. manufacturing companies with operations abroad.
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.