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Replicating Success: How Opportunity Zones Are Reshaping the Investment Landscape

Posted 1:09 PM by
The economic divide in large cities continues to expand. Despite a financial resurgence following the recession that occurred between 2007 and 2009, the system wasn’t fixing itself. Enter the Qualified Opportunity Zone (QOZ) program, a creation of policy think tank Economic Innovation Group (EIG) designed to boost development in economically distressed communities. On March 13 at the Conrad Hotel in Indianapolis, Katz, Sapper & Miller and Ice Miller LLP hosted a seminar that took a closer look at the program, “Seizing the Opportunity: The Vision and Forecast for Opportunity Zones.”
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Seizing the Opportunity: The Vision and Forecast for Opportunity Zones

Posted 2:38 PM by
In an effort to boost development in economically distressed communities, many federal incentive programs have been created over the years, such as the New Markets Tax Credit, Empowerment Zones, and more. But the newest investment incentive may have the most significant tax benefits yet: Qualified Opportunity Zones.
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Estridge to Present on Qualified Opportunity Zones at IU Real Estate Winter Luncheon

Posted 6:45 PM by
Katz, Sapper & Miller’s John Estridge will speak at the IU Real Estate Winter Luncheon, hosted by the IU Center for Real Estate Studies and held at the Meridian Hills Country Club Feb. 15, 2019.
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IRS Releases Final Regulations on the 20 Percent Pass-Through Deduction

Posted 1:30 PM by
Just in time for the tax filing season, the IRS has released nearly 250 pages of final regulations regarding the §199A pass-through deduction. The IRS issued previous guidance on the §199A pass-through deduction in August 2018, however, even this final guidance has not answered all questions related to the new deduction. Even so, there are many significant updates in the IRS’s final regulations, which are explained below.
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The Increased Importance of Income Sourcing in a Post-Tax Reform World

Posted 8:00 PM by
The Tax Cuts and Jobs Act of 2017 (TCJA), signed into law in late 2017, included significant changes to the tax environment in the United States. One of the largest changes was the addition of the qualified business income (QBI) deduction. The QBI deduction allows for a deduction of up to 20 percent of the qualified business income from partnerships, limited liability companies (LLCs), S corporations, trusts, estates, and sole proprietorships. Learn more about the QBI deduction.
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New Jersey Corporate Tax Overhaul: 2019 Planning Considerations

Posted 12:30 PM by
In 2018, New Jersey Gov. Phil Murphy signed Assembly Bill No. 4202 into law. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. Later that year, Gov. Murphy signed Assembly Bill No. 4495, which then made technical corrections to Assembly Bill No. 4202 and clarified effective dates. In 2018, New Jersey Gov. Phil Murphy signed Assembly Bill No. 4202 into law. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. Later that year, Gov. Murphy signed Assembly Bill No. 4495, which then made technical corrections to Assembly Bill No. 4202 and clarified effective dates. As your business begins to plan for 2019, the following information will be important.
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Tax Reform: Nondeductible Parking Expenses and Their Impact on Your Business

Posted 12:53 PM by
The Tax Cuts and Jobs Act (TCJA) provides that expenses for qualified transportation fringe benefits are nondeductible. The IRS recently released interim guidance via Notice 2018-99 clarifying that a portion of taxpayers’ “parking expenses” is considered nondeductible as qualified transportation fringes. Thus, Notice 2018-99 has significantly expanded the number of taxpayers that will need to calculate the nondeductible portion of their parking expenses. Now, all employers that own or lease a parking lot where their employees park will need to consider if an add-back to taxable income is required. This provision impacts the preparation of 2018 tax returns as it applies to expenses incurred or paid after Dec. 31, 2017.
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IRS Issues Interim Guidance on Parking Expenses for Not-for-Profit Organizations

Posted 12:30 PM by
When the Tax Cuts and Jobs Act (TCJA) made qualified transportation fringe benefits (QTFs) nondeductible, it changed how parking expenses are treated. Recently, the IRS released interim guidance (Notice 2018-99) on how not-for-profit organizations can determine the amount of these expenses that must be treated as an increase in unrelated business taxable income (UBTI) as of Jan. 1, 2018.
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Tax Reform and Year-End Considerations: What You Need to Know

Posted 7:00 PM by
The Tax Cuts and Jobs Act (TCJA) was the most sweeping overhaul of the U.S. tax code in more than three decades, and its changes will impact nearly every 2018 federal income tax return. As the year draws to a close, now is the time to consider year-end tax planning strategies to help you maximize deductions and minimize your tax bill – for this year and the year ahead.
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Help Maintain a Healthy Veterinary Hospital With This Year-End Checklist

Posted 6:30 PM by
As the year draws to a close, business items can easily get lost in the flurry of holiday activities. That is why we created this year-end checklist – to help you make the most of 2018 and to help keep your business as healthy as it can be.
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