Insightsstream of knowledge
Building the Future: The Evolution and Impact of Transportation in 2018 and Beyond Read More
Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a way to defer this tax: a Section 1031 “like kind” exchange. However, the Tax Cuts and Jobs Act (TCJA) reduces the types of property eligible for this favorable tax treatment. Read More
The 2018 Tax Act limits the deduction of business interest, therefore impacting the potential strategic value of being highly leveraged. According to the Act, beginning in years after 12/31/17, businesses will only be able to deduct interest expense up to 30% of its adjusted taxable income, plus its business interest income. Read More
- Lost in Translation: Technical Issues Create Confusion Over New Depreciation Rules7/12/2018
The new tax law makes significant changes to the way real estate improvements and other business assets are depreciated for tax purposes. Unfortunately, in the rush to pass tax reform before Christmas, critical provisions were omitted, creating a disconnect between what Congress intended and the language of the act.
- New Jersey grapples with new tax law7/12/2018
Anchin's Real Estate Group Co-Leader Robert Gilman is among those experts who expect an exodus from the Garden State because of the reforms.
- Is the Tax Cuts and Jobs Act (“TCJA”) Eating Law Firms Breakfasts, Lunches and Dinners?7/11/2018
The TCJA made significant changes to the Internal Revenue Code (“IRC”) regarding business deductions involving not just entertainment but, in many aspects, employee benefits and traditional meals as well. These changes affect law firms and their clients regardless of entity type however, significant guidance is still needed from the IRS.
- Effective 7/1/18: Sales and Use Tax Collection Changes for Vermont and Kentucky7/2/2018
Since the U.S. Supreme Court’s recent overturning of Quill Corp. v. North Dakota, Vermont and Kentucky have released guidance on the treatment of sales and use tax, both of which went into effect on July 1, 2018.
- Security Risks with Smart Homes and IOT6/28/2018
Every device that is added to the home Wi-Fi network opens up potential risks. Following smart security practices can help protect both property and personal information.
- Changes Affecting Divorce in Light of the Tax Cuts and Jobs Act6/28/2018
The new law applies to divorce or separation agreements executed after December 31, 2018, which means that divorcing spouses will have a good reason to finalize their divorce by the end of the year.
- Tips for Minding the House During a Summer Away 6/28/2018
Families will want to make sure they take proper care of their primary residence so that they do not find any unpleasant surprises awaiting them when they return from the summer break.
- Supreme Court Opens Door to Taxation of Online Sales6/26/2018
In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the high court’s previous rulings on the issue disadvantaged them, as well as state governments that are eager to replenish their coffers.
- Supreme Court Overturns Significant Wide Reaching Tax Ruling6/21/2018
In one of the most groundbreaking tax events in decades, the U.S. Supreme Court overturned Quill Corp. v. North Dakota, a 1992 decision pertaining to the collection of use tax. Now, retailers can be required to collect sales and use tax, even in states in which they lack a physical presence.
- Anchin offers analysis of the 2017 Tax Cuts and Jobs Act in relation to the value of equity interests6/21/2018
Hedgeweek highlights our analysis of how the 2017 Tax Cuts and Jobs Act will impact the value of equity interests, and why the potential impact could be very different than what many experts expect.