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Tag Archive for House

Death And Taxes Under The Tax Cuts And Jobs Act

Mike Melbinger, Tax Connections

Sorry to inundate you with so many blogs, but I thought I would try to add a little levity to your day while we wait for the House and Senate to vote on the Tax Cuts and Jobs Act. I have posted on the “once a covered employee, always a covered employee” change to Section 162(m), which will have a tremendously negative effect on many companies. However, it is this point that my favorite paragraph in the Conference Committee report addresses: Read more

New Update: Trump Tax Proposals

Lisa Nason, Tax Advisor

Both the House and Senate have passed their versions of President Trump’s tax bill, and there are many similarities, including the limiting of itemized deductions to mortgage interest, charitable contributions, and property taxes (up to $10,000), and the doubling of the estate, gift, and generation-skipping transfer tax exemptions from $5.6 million to $112 million in 2018. These versions also differ in a number of ways. These differences will have to be resolved through a legislative conference committee. Some differences should be easy to reconcile, but resolving others is expected to take time and effort. Read more