TAX REFORM HEADQUARTERS
The tax reform bill will have a certain impact on taxpayers and business owners in 2018. GranthamPoole has been on top of the news as it breaks and will be continuing to keep you up-to-date. When it comes to Tax Reform, We See You Through!
Watch the GranthamPoole Tax Reform Seminar
Listen in as experts at GranthamPoole PLLC discuss some of the important changes in the tax code at our recent Tax Reform Seminar. The seminar covers changes such as individual tax rates, healthcare mandates, personal deductions, general business provisions, depreciation (including bonus depreciation), capitalization, and much more.
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RECENT TAX REFORM NEWS
Potential Refund of ACA-Related Taxes
Later this year, the US Supreme Court will deliberate on a case that could potentially lead to the Affordable Care Act (ACA) and its associated taxes being found retroactively unconstitutional. If the Court does find the ACA unconstitutional, taxpayers may be entitled...
CARES Act Makes Long-Awaited Correction to the “Retail Glitch”
The Tax Cuts and Jobs Act (TCJA) was a major overhaul of the U.S. Tax Code passed in 2017. Of course, 2017 seems like decades ago considering all that has transpired since then, most notably the coronavirus pandemic. Unfortunately, it took a...
Double Down on Your Charitable Giving Deductions with Appreciated Stocks
Charitable giving is one of the most popular tax deductions for people who itemize their deductions. Not only are you helping the charitable organization of your choice, but you also get a tax break! The easiest form of charitable giving is, of course,...
Rethinking Itemized Deductions
The 2018 tax season saw major changes for most taxpayers due to the Tax Cuts and Jobs Act’s (TCJA) inaugural year. Many taxpayers found that they were no longer able to itemize deductions as they had been in years past. While there is little you can do to...
Home Sweet Home Mortgage Interest Deduction
One of the many changes in the new tax law that may impact you is the mortgage interest deduction. This is still a favorite deduction despite the significant increase in the standard deduction. It is important to first understand how the IRS defines...
Why You Should Still Like Like-Kind Exchanges
It’s no secret that the Tax Cuts and Jobs Act (TCJA) ushered in sweeping changes to tax law that affected all of us. Today we’ll be talking about one such effect on owners of real estate: the 1031 exchange. Also known as like-kind exchanges, 1031 exchanges...
7 Things All Business Owners Should Know About Section 199A Part 2 of 2: Because I Promised A Part 2
Last time, I laid out a few things to keep in mind regarding the qualified business income deduction, points regarding its possible future, the importance of having a trade or business, how a rental real estate activity may figure into that,...
7 Things All Business Owners Should Know About Section 199A Part 1 of 2: It Begins (or Continues; Whatever)
Section 199A (also known as “the qualified business income deduction” or “the 20% passthrough deduction” or “the monster that stalks my dreams”) hit the news again a few weeks back with the publication of final regulations – and related materials – by the...
A Year After Passage: Tax Reform’s Effects on Owners of Commercial Real Estate
Since the passage of the Tax Cuts & Jobs Act on December 22, 2017, we’ve had some time to digest this new law and analyze the effects this tax reform package will have on individuals and businesses. As we approach the upcoming tax filing season, it’s...
Like-Kind Exchanges: Still Great – Just Not All They Once Were
Tax-deferred like-kind exchanges have been around for a long time – a very long time. In more or less their present form (excepting a significant change mentioned below), they have been a part of the income tax world for over 60 years – but the concept...