Archives for income

How to Co-ordinate Cost Segregation with Like-kind Exchange

February 6, 2018 | by | Comments Off on How to Co-ordinate Cost Segregation with Like-kind Exchange

The Tax Cuts and Jobs Act (TCJA) was signed by the President on December 22, 2017. The TCJA is the most significant overhaul of Internal Revenue Tax code since the 1986 Tax Act under President Reagan. The Committee Report has over a thousand pages of modifications to many areas of the tax code. One piece of the new legislation (that concern most real estate investors) involves changes to the like-kind exchange rules. When certain conditions are met, no gain or loss is recognized when a taxpayer exchanges property of like-kind (used in a trade or business or for investment purposes).
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Categories: Industry News and Newsletter and Updates.
Tags: accountants, accounting, cost, exchange, federal, income, law, segregation, state, tax, tax bill, taxation, TCJA, wfy, and wright ford young.

Pass-Through Entities and the 20 Percent Tax Break

January 23, 2018 | by | Comments Off on Pass-Through Entities and the 20 Percent Tax Break

Small-business owners and partners are scratching their heads over the Tax Cuts and Jobs Act and how the new 20 percent tax deduction for pass-through entities will work. Here’s a little background A pass-through entity can be a partnership, S corporation, limited liability company or partnership, or sole proprietorship — basically, most of the country’s small businesses. Owners and shareholders of these entities are taxed on earnings based on individual, not corporate, tax rates. Effectively, company earnings, losses and deductions pass through to the individual’s personal tax rates, which, in the past, were typically lower than corporate rates. The pass-through
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Categories: Newsletter and Updates.
Tags: business, corporate, deduction, income, investments, pass-through, qbi, shareholders, tax, tax break, tax cuts and jobs act, taxation, trusts, wfy, wright ford young, and wright ford young & co.