With the passage of the Tax Cuts and Jobs Act, there are now more tax benefits and simplification for lessees and building owners through changes to Qualified Improvement Property, bonus depreciation and Section 179 expensing.
Prior to the… Read More
The new 21% corporate tax rate allows C corporations to pay federal taxes at a significantly lower tax rate than the 35% top rate in prior years. While the new tax rate took effect beginning in 2018, this new benefit… Read More
With the passage of the Tax Cuts and Jobs Act, there is a new section on Qualified Opportunity Zones, a tax incentive that encourages investments in low-income communities. Below are the details on the new tax incentive including what it… Read More
If you have a savings account, CD or other investment account in your child’s name, this is considered unearned income for your child. This type of net unearned income is subject to a “kiddie tax”, which prevent parents and grandparents… Read More
More manufacturers may be exempt from the Uniform Capitalization (UNICAP) rules following tax reform. The UNICAP rules from Code Section 263A generally require that certain direct and indirect costs associated with real or tangible personal property manufactured by a business… Read More