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Tax Planning Blog Blog

Articles: 1-10 of 26

Creative Year-End Tax Planning Ideas

USA - December 6 2018 As our clients and friends, we at Sirote thought you might appreciate a few creative ideas designed to take advantage of the new 2018 tax laws. You…

Looking to reduce your 2018 tax bill... you might want to look at Opportunity Zone planning

USA - October 24 2018 The Opportunity Zone program was enacted to encourage taxpayers to realize gains on appreciated assets and invest such gains in lower-income areas to…

U.S. Treasury Issues Opportunity Zone Tax Incentive Planning Regulations

USA - October 23 2018 Late last week, the U.S. Treasury Department and IRS issued the first set of proposed regulations interpreting the use of Opportunity Zone Tax…

IRS Warns States and Taxpayers in New Notice Addressing Charitable Contributions that Produce Both Federal Tax Deductions and State Tax Credits.

USA - June 14 2018 In May, the IRS issued Notice 2018-54 indicating that it is aware of “state efforts to circumvent the new statutory limitation on state and local tax…

Economic Development Through "Opportunity Zones"

USA - February 15 2018 The 2017 tax reform act contains a special economic development tool for re-investment in “Opportunity Zones”. Taxpayers who reinvest gains from other…

Tax Law Changes Require Immediate Attention to Your Partnership and LLC Agreements

USA - December 11 2017 As result of the Bipartisan Budget Act (BBA) of 2015, Congress has effectively changed the way partnerships are audited and, ultimately, taxed. The…

The Tax Cuts and Jobs Act of 2017

USA - November 2 2017 Following months of negotiations, The Tax Cuts and Jobs Act was released at 11:15 AM on November 2, 2017. The Tax Cuts and Jobs Act proposes some…

Avoiding The Securities Minefield

USA - February 5 2017 In the 1970s and 1980s, the Fram oil-filter company used a very popular marketing campaign; its TV ads showed a mechanic holding a Fram oil filter…

June 30, 2016 ACA Deadline to File Forms 1094-C and 1095-C

USA - June 27 2016 Applicable Large Employers must file with the IRS 2015 Forms 1094-C and 1095-C not later that June 30, 2016. Forms 1094-B and 1095-B also must be…

In a Taxpayer Friendly Reasonable Compensation Case …Independent Investor Test Explained

USA - May 16 2016 In a taxpayer friendly decision, H. W. Johnson, Inc., T. C. Memo 2016-95, issued on May 12, 2016, the Tax Court appears to adopt a 10% return on…