The $1.5 trillion tax reform legislation known as the “Tax Cuts and Jobs Act” (TCJA) represents the biggest change to the tax code since 1986. While the implications for businesses are broad and complex, we’ve summarized some of the most common tax reform questions for manufacturers:
By Joe Sremack, CFE
The beginning of school has arrived and it’s a good time to learn about the tax benefits that can help you offset qualifying education costs. If you’re paying education costs for yourself, a spouse or a dependent, you may be eligible to save some money with education tax credits.The American Opportunity Tax Credit (AOTC) is:
- Worth a maximum...
Tax reform legislation included a number of provisions of interest to partnerships and their partners including the Section 199A deduction for qualified business income of pass-through entities for tax years beginning after December 31, 2017.
President Donald Trump and House GOP tax writers discussed "Tax Cuts 2.0" in a July 17 meeting at the White House. The next round of tax cuts will focus primarily on the individual side of the tax code, both Trump and House Ways and Means Chair Kevin Brady, R-Tex., reiterated to reporters at the White House before the meeting.
The U.S. Supreme Court has determined that nonqualified employee stock options are not taxable compensation under the Railroad Retirement Tax Act (RRTA). The term "money remuneration" in the Act unambiguously excludes "stock."
Several railroads filed a refund claim for overpaid Railroad Retirement taxes. The railroads claimed they...