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November 2018 - The Tax Adviser

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  2. November 2018
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corporations & shareholders

Qualified small business stock gets more attractive

The new lowered corporate tax rate will probably lead to more C corporations and a resulting increase in taxpayers’ interest in the Sec. 1202 100% exclusion on gain from the sale of QSB stock.

ESTATES, TRUSTS & GIFTS

Recent developments in estate planning: Part 2

This article is the second of two parts of an annual update on developments in trust, estate, and gift taxation. It covers generation-skipping transfer tax and trust tax developments, as well as inflation adjustments for 2018.

Tax Clinic

expenses & deductions

Determining deductibility of meals after the TCJA

Solar panels: Basis and bonus depreciation

FOREIGN INCOME & TAXPAYERS

Move to territorial system may not discourage profit shifting

GAINS & LOSSES

Loss deductions for abandonment of intangible assets

partners & partnerships

Prop. regs. restore allocation of partnership liabilities in disguised sales

S CORPORATIONS

Loan guarantee does not increase S corp. shareholder’s debt basis

Shareholder cannot unilaterally change an S corp.’s election

SPECIAL INDUSTRIES

Tax pitfalls of owning a marijuana business

STATE & LOCAL TAXES

Retailer not required to file sales tax refund claim for consumer

COLUMNS

NEWS NOTES

IRS defines covered employees and grandfathered employment contracts under Sec. 162(m)

IRS issues guidance on deemed personal exemption amount

Proposed rules aimed at states’ attempts to avoid the $10,000 SALT limit

TAX PRACTICE RESPONSIBILITIES

The importance of engagement letters for small firms

CAMPUS TO CLIENTS

Modeling investment tax planning with Excel

CASE STUDY

Avoiding the hobby loss trap after the TCJA

TAX TRENDS

Lessee cannot take deduction for facade easement contribution

Tax Court cannot determine overpayment in CDP review case

TAX PRACTICE MANAGEMENT

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2025 tax software survey

AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.

Tax Clinic

Sec. 382 and exceptions to the segregation rules

R&D tax credits: A new era of disclosure and documentation

Premium or paycheck? Tax treatment of secondary sales above FMV

Comparing and contrasting business tax strategies

Estate of McKelvey highlights potential tax pitfalls of variable prepaid forward contracts