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Tax Insider Articles
Every Thursday, get practical and timely articles on tax topics affecting individuals and businesses. Free subscription to Tax Insider >
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.
When do payments to clergy move from gifts to remuneration?
Are gifts to clergy taxable income for federal income tax purposes? The answer involves a careful consideration of the surrounding circumstances.
Health savings accounts can save taxpayers money
Combined with higher standard deductions under the TCJA, most people do not have enough medical expenses and other qualifying itemized deductions to exceed the standard deduction.
The solar energy credit: Where to draw the line?
To determine the IRS’s likely treatment, an analysis is necessary of two Code sections that address energy credits: Sec. 25D and Sec. 48.
A cautionary tale of opportunity zone deferrals
This article provides an overview of the rules for determining the 180-day period to qualify for the full benefits of a qualified opportunity zone investment.
Financing opportunities for medical expenses incurred by children with special needs
This article focuses on two resources often used in financing medical care: home equity loans and distributions from retirement plans and IRAs.
Taxation of sexual harassment settlements post-TCJA
Because of the considerable tax consequences, the new law will encourage plaintiffs and defendants to refrain from including a nondisclosure agreement in their sexual harassment settlements.
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.
Minimizing federal income tax on trusts under the TCJA
The disparate tax treatment between trusts and individuals has grown even more pronounced than it was before the TCJA was enacted.
Has the TCJA changed the definition of a dependent for children with special needs?
This article provides an overview of the rules defining a dependent and addresses the issue of a child’s receipt of Supplemental Security Income.
Tax consequences for professional athletes in 2018
Proper advance planning is imperative to maximize the benefits of the TCJA provisions.
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.
2018 partnership Schedule K-1 changes
This article discusses the new items practitioners should be aware of.
Traps for the unwary: Tax Cuts and Jobs Act changes
This article lists the changes together, along with some unexpected nuances.
Corporate transactions’ effect on retirement plans
This article discusses several key factors that CPAs and benefit plan advisers should consider to help successfully integrate plans during a merger or acquisition.
Questions remain about the excess business loss rule
IRS guidance is needed to determine items of business income, gains, losses, and deductions to arrive at the amount of excess business losses.
Is your client the subject of an FBAR examination?
This article discusses a few key things practitioners should know about FBAR cases.
Divorce post-TCJA: unexpected consequences
This article discusses changes that might affect clients that are divorced, are in the process of divorcing, or that have prenuptial or post-nuptial agreements.
The TCJA’s effect on future R&D tax credit planning
This article discusses the modifications made to Sec. 174 and Sec. 41, which will affect taxpayers’ R&D tax credit claims for tax years after Dec. 31, 2021.
