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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

INDIVIDUALS

Current Developments in Taxation of Individuals: Part 1

This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.

Tax Clinic

Planning for domestication transactions

Planning for new charitable contribution limits

Effect of the new pro rata share rules

Determining when a debt instrument has zero basis

Structuring partnership mergers