When it comes to tax law changes and estate planning, the substantial increases to the gift and estate tax exemptions under the Tax Cuts and Jobs Act are getting the most attention these days. But a tax law change enacted in 2015 also warrants your attention. That change generally prohibits the income tax basis of . . .
The tax reform legislation is teeming with new rules, but I’d like to focus on how the new law affects the restaurant industry and how operators should respond to the changes. Along the way, I try to suggest some issues to consider as you go about your tax plans. I am grateful to Jeff Tubaugh . . .
Gifting assets to loved ones is one of the simplest ways of reducing your taxable estate. However, what may not be as simple is determining whether you need to file a gift tax return (Form 709). With the April 17 filing deadline approaching, now is the time to find out an answer. Return required A . . .