INSIGHTS

Top 10 things companies need to know about tax reform

The $1.5 trillion new tax law represents the most sweeping change to tax code in a generation. Tax reform of this magnitude will have broad implications for businesses of all sizes and in all industries. While accountants and tax departments wade through the 185-page legislation, here are the top 10 things companies need to know:

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Are You Prepared for an IRS Audit?

The IRS’s emphasis, with respect to defined contribution plans is on compliance with the requirements of the Internal Revenue Code (the Code), the plan’s tax qualification and administration of all plan documents.

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Evaluating Your Plan and Fees? Think More, Not Less.

Should you reduce your plan’s fees to better serve participants? Many vocal experts speaking on behalf of investors and participants say “yes” – unequivocally. But what about the investors and participants themselves? What do they say?

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Tax reform & choice of entity considerations

All pass-through entities, including partnerships and S corporations, should evaluate their choice of entity as a result of tax reform and the new reduced corporate tax rate of 21 percent (previously 35 percent). Converting from a pass-through entity to a C corporation requires thoughtful consideration, analysis, and planning.

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Tax reform planning checklist

As the biggest change to the tax code in a generation, the new tax regime will have broad implications on both businesses and the people behind them. But what does the new law really mean for your business and your industry both now and in the years to come?

As we near the 100th day under the new tax law, it’s critical that companies both manage the resulting changes and develop a sustainable long-term tax strategy. To do this, businesses should take a phased approach: determining and addressing any immediate to-dos, navigating key steps to implementing any changes, and finally, ensuring their tax department is equipped to grow and address futures changes.

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The Pass-Through Provisions of the TCJA

The Tax Cuts and Jobs Act established a deduction based on a noncorporate owner’s qualified business income (QBI). It’s available to individuals who own interests in pass-through business entities.

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Cryptocurrency 101

CryptoCurrencies, Blockchain, Hash Generator, BTC, Ethereum … If you weren’t sure if this was English, you are not alone. We explain it to you.

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The Explosion of Bitcoin

From Wall Street Journal articles and editorials in Barron’s, to Facebook posts and holiday dinner conversations, Bitcoin is everywhere.

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2017 Research tax credit payroll offset claims: recent updates

Beginning in 2016, qualified small businesses now have the ability to offset up to $250,000 of their FICA payroll taxes with their federal Research Tax Credits (RTCs). With the first available tax year for this provision behind us, it has proved itself a very beneficial cash savings opportunity for start-ups. As companies plan for 2017 tax return filings, there are some recent developments and timing considerations to note.

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2018 Tax Calendar

Reference this tax calendar to learn the deadlines of various tax-related forms and payments.

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Participant Corner: Your Retirement Date

Home »  Retirement can be the most wonderful time of your life, truly the golden years. It is up to you to do what you can to make it so. Enjoying good health in retirement is key to quality of life. The other major determiner of quality of life in retirement is...

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Treasury provides additional guidance under section 965 and guidance in connection with the repeal of section 958(B)(4)

On January 19, 2018, the Department of the Treasury and the Internal Revenue Service (collectively, “Treasury”) issued Notice 2018-13 (the “Notice”). The Notice provides additional guidance under Section 965, Treatment of deferred foreign income upon transition to participation exemption system of taxation, as amended by “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,” P.L. 115-97 (known as the Tax Cut and Jobs Act), which was enacted on December 22, 2017. See Notice 2018-07, for prior guidance issued under Section 965. In addition, the Notice provides guidance in connection with the repeal of Section 958(b)(4).

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Treasury provides additional guidance under section 965 and guidance in connection with the repeal of section 958 (B)(4)

On January 19, 2018, the Department of the Treasury and the Internal Revenue Service (collectively, “Treasury”) issued Notice 2018-13 (the “Notice”). The Notice provides additional guidance under Section 965, Treatment of deferred foreign income upon transition to participation exemption system of taxation, as amended by “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,” P.L. 115-97 (known as the Tax Cut and Jobs Act), which was enacted on December 22, 2017. See Notice 2018-07, for prior guidance issued under Section 965. In addition, the Notice provides guidance in connection with the repeal of Section 958(b)(4).

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