The Benefits Of Setting Up An Incomplete Non-Grantor Trust The Tax Cut and Jobs Act of 2017 (TCJA) doubled the federal estate exemption to over $11 million. For 2020, the exemption increased to $11,580,000. With this increased exemption, less than 1% of taxpayers will have a taxable estate, which has led many individuals to shift…
As cloud computing systems and complex financial algorithms become part of the fabric for industry best-practices and business operations far and wide, more and more companies are outsourcing certain functionalities to external service providers. Hospitality is no exception – hotel property owners are now relegating operational responsibilities to highly specialized management companies. While this may…
Share If your company is contemplating raising capital or planning an exit strategy, have you ever considered the value of the company’s net operating losses (NOLs)? In the past, quite often companies were able to take advantage of IRS rules dating back to 2003 that increased the value of their NOLs in business deals. With…
Share Withum is well known in the advisory, tax and accounting profession for premiering its renowned annual culture video at its State of the Firm event, held every January since 2008. This year, with the firm’s event theme being CREATE, the Marketing team responsible for the coordination and execution of filming the video ironically decided…
Share Managing the day-to-day operations of any organization can be extremely time-consuming, often leaving the organization unprotected from risks – both anticipated and unsuspected. While leaders acknowledge they have worries and/or concerns about such risks, many will also admit they do not have a plan to address them. Without having a firm grasp on the…
With year-end tax planning upon us, it important to shed light on updates of the 2017 Tax Cuts and Jobs Act. It was the TCJA that introduced the 20% qualified business income (QBI) deduction for trades and businesses. One question that required clarification was how does your business know if its rental real estate activity…
The Tax Cuts and Jobs Act of 2017 (TCJA) was a major overhaul of the tax law. Real estate businesses were significantly impacted as a result of the changes. For the most part, the new rules mean a positive outcome for REITs. Section 199A – QBI deduction Section 199A entitles eligible taxpayers to deduct 20…
Share The U.S. drone attack which killed Iran’s military chief has led to a recent spike in stock market volatility. Though, according to many “market professionals,” it poses little risk to the longer-term health of the stock market. According to one highly respected trust company: “We anticipate that these market impacts, as well as those…
Share This past year covered a wide range of tax laws and regulation changes. Our top 2019 insights reflect these updates impacting individuals and businesses, domestically and internationally. Top Insights of 2019 Qualified Transportation Fringe Benefits Are No Longer Deductible Litigation Expense Deductibility: New Appellate Court Decision Cost-of-Living Adjustments Announced by the IRS 2019 Year-End…
Learn how increasing global communication and collaboration is possible with an Office 365 Digital Workplace. Download a PDF of this case study. Executive Summary A Japanese electronics company was looking to upgrade their current intranet to improve collaboration throughout the company. Withum’s Digital Workplace Solutions Team worked with the company, as well as its SharePoint…