Businesses Entitled to Deduct Charitable Contributions Received in Exchange for SALT Credits

Posted on by moskowitz Posted in Business Law, State & Local Taxation, Tax Services
One of the more controversial provisions of the Tax Cuts and Jobs Act (TCJA) of 2017 was the addition of 26 U.S. Code ยง 164(b)(6), which capped the tax deduction for state and local taxes (SALT) paid by an individual to $10,000 per year ($5,000 for married taxpayers who file...
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U.S. Department of Justice Announces New Policies for Prosecution of Corporations, Focusing on Individual Wrongdoers

Posted on by moskowitz Posted in Business Law, Criminal Tax Law
Justice Department announces new policies for prosecuting individuals who are responsible for corporate wrongdoing. This past November, Deputy Attorney General Rod J. Rosenstein announced that the Department of Justice has enacted changes to its policies and procedures regarding the prosecution of corporate financial fraud and other misconduct. Corporate fraud: the...
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Tax Law and the Horse Industry: Part VIII, At the Racetrack

Posted on by moskowitz Posted in Business Law, Tax Planning & Compliance
Other Posts in this Series Part I: Impact of the New Tax Law Part II: Proving Intent to Make a Profit Part III: Incorporating Your Horse-Related Business Part IV: Proving Active Participation Part V: Taxation of Horse-Related Business Activities Under The New Tax Law Part VI: Deducting Horse-Related Business Expenses...
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Tax Law and the Horse Industry: Part VII, Buying, Selling, and Trading Horses

Posted on by moskowitz Posted in Business Law, Tax Planning & Compliance
Other Posts in this Series Part I: Impact of the New Tax Law Part II: Proving Intent to Make a Profit Part III: Incorporating Your Horse-Related Business Part IV: Proving Active Participation Part V: Taxation of Horse-Related Business Activities Under The New Tax Law Part VI: Deducting Horse-Related Business Expenses...
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Tax Law and the Horse Industry: Part VI, Deducting Horse-Related Business Expenses

Posted on by moskowitz Posted in Business Law, Tax Planning & Compliance
Other Posts in this Series Part I: Impact of the New Tax Law Part II: Proving Intent to Make a Profit Part III: Incorporating Your Horse-Related Business Part IV: Proving Active Participation Part V: Taxation of Horse-Related Business Activities Under The New Tax Law Part VII: Buying, Selling, and Trading...
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Tax Law and the Horse Industry: Part V, Taxation of Horse-Related Business Activities Under The New Tax Law

Posted on by moskowitz Posted in Business Law, Tax Planning & Compliance
Other Posts in this Series Part I: Impact of the New Tax Law Part II: Proving Intent to Make a Profit Part III: Incorporating Your Horse-Related Business Part IV: Proving Active Participation Part VI: Deducting Horse-Related Business Expenses Part VII: Buying, Selling, and Trading Horses Part VIII: At the Racetrack...
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Tax Law and the Horse Industry: Part IV, Proving Active Participation

Posted on by moskowitz Posted in Business Law, Tax Planning & Compliance
Other Posts in this Series Part I: Impact of the New Tax Law Part II: Proving Intent to Make a Profit Part III: Incorporating Your Horse-Related Business Part V: Taxation of Horse-Related Business Activities Under The New Tax Law Part VI: Deducting Horse-Related Business Expenses Part VII: Buying, Selling, and...
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Tax Law and the Horse Industry: Part III, Incorporating Your Horse-Related Business

Posted on by moskowitz Posted in Business Law, Tax Planning & Compliance
Other Posts in this Series Part I: Impact of the New Tax Law Part II: Proving Intent to Make a Profit Part IV: Proving Active Participation Part V: Taxation of Horse-Related Business Activities Under The New Tax Law Part VI: Deducting Horse-Related Business Expenses Part VII: Buying, Selling, and Trading...
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Reduce Your Tax Bill With Year-End Charitable Giving

Posted on by moskowitz Posted in Business Law, Estate Planning & Taxation, Tax Planning & Compliance
There are many reasons that people donate to charities and the charitable giving tax deduction has always been one of them. However, by eliminating many other itemized deductions and increasing the standard deduction, the new tax law has reduced the tax incentive for charitable giving. Many taxpayers feel that they...
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