Welcome to our Tax Reform Resource Center.
We are keeping an ear to the ground so that when updates and regulations occur surrounding the Tax Cuts and Jobs Act, you will know first. Check back here and follow us on social media to receive breaking news as it occurs.
Have questions about how the legislation affects your personal and business tax planning for 2018? Contact your local Blue & Co. tax advisor.
When it comes to self-employment taxes, an LLC member is not necessarily in the same boat as a limited partner. The IRS is cracking down on LLC members who underreport their SE income by erroneously claiming they are similar to a limited partner of a Partnership. Facts and circumstances play a key role in making […]
By Miranda Aavatsmark Iceberg! Straight ahead! Although there are many theories why the unsinkable ship, the Titanic, sank, ultimately the piercing claws of the iceberg underwater was the cause of her untimely fate. When The Tax Cuts and Jobs Act of 2017 (TCJA) rolled out a new limitation on business interest expense, it appeared, at […]
A recently proposed bill could make the Craft Beverage Modernization and Tax Reform Act of 2017 permanent. Senators Roy Blunt (R-Mo.) and Ron Wyden (D-Ore.) had good news for the craft beverage industry on Wednesday, February 6, 2019. The Senators announced a bipartisan bill, which if passed, would amend the Internal Revenue Code to make permanent […]
With the recent changes under the Tax Cut and Jobs Act (TCJA), tax rates for C corporations have come down to a flat 21%, making it very appealing for many business owners. However, there are still several important factors that need to be taken into account before making the decision to become a C corporation: […]
As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investment interest expense. This is interest on debt used to buy assets held for investment (such as margin debt used to buy securities). But, just because […]
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But, special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments. Some of these were enhanced by […]