Tax Insider Articles


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Maximizing the QBI deduction with UBIA property

This article examines the calculation of the UBIA of qualified property; offers guidance on special situations such as like-kind exchanges and the Sec. 754 election; and presents planning opportunities to maximize the UBIA of qualified property.

Simplifying the Rube Goldberg tax code

Similar to a Rube Goldberg contraption, the Internal Revenue Code is needlessly complex. Here are a few ideas for simplification and a request for readers to suggest others.

A tribute to Byrle Abbin: A legend of the estate and trust world

Byrle Abbin, CPA, J.D., a respected, knowledgeable, and outspoken mentor to many estate, gift, and trust tax professionals, died on March 19, 2019. He was 87. He joined the AICPA in 1960 and continued to contribute his intelligence, ideas, efforts, and time to the profession and to many professionals for almost 60 years.

Newsletter Articles

TAX REFORM

Traps for the unwary: Tax Cuts and Jobs Act changes

By now many of us are familiar with the various provisions of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. Here is a list of changes together with (perhaps) unexpected nuances.

DEDUCTIONS

Qualified business income deduction regs. and other guidance issued

The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses.