Industry best practices
-
California SB 113 Expands Pass-Through Entity Elective Tax Benefits
Since the passing of the Tax Cuts and Jobs Act (TCJA) in late 2017, numerous states have enacted a workaround to the state and local tax (SALT) deduction cap of $10,000 by allowing pass-through entities to elect to be taxed at the entity level. On July 16, 2021 California Governor Newsom signed Assembly Bill (AB) […]
-
Opportunity Zones in 2022: A Tax & Financial Analysis
As most investors have learned over the past couple of years, the primary tax benefits of Qualified Opportunity Zone (QOZ) investments are Defer, Reduce, and Pay Zero. Investors are still able to “Defer” the tax owed on eligible gains until 2026. Investing a larger amount of capital to start will yield positive economic value. The […]
-
Solutions for Your Workforce Challenges
Throughout the COVID-19 pandemic, small- and mid-market companies faced increased financial and operational concerns that have ranged from liquidity needs, compliance, and debt obligations to loss of production and supply chain disruption. However, when addressing workforce concerns, organizations that offer their employees the following have consistently emerged as better prepared to weather the uncertainty of […]
-
A Fresh Look at Your Organization Can Turn Challenges Into Opportunities
Are you confident that you and your organization are heading towards lasting and positive change? The COVID-19 pandemic has rattled many organizations, but with the right approach, challenges can be turned into opportunities. A fresh look at strategic plans, people needs, and technology infrastructure can help ensure short- and long-term financial success. Prioritize planning to […]
-
Big Change to Business Interest Expense Limitation Coming in 2022
In 2017, the Tax Cuts and Jobs Act significantly changed IRC Section 163(j), greatly expanding its applicability. Modifications and clarifications to IRC Section 163(j) occurred through proposed and final regulations in the subsequent years. The Section 163(j) limitation applies to all business interest payments for taxpayers with gross receipts in excess of $26 million. Business […]
-
Decisions, Decisions for Qualified Opportunity Zone Investors
The two-year anniversary of final regulations for the Qualified Opportunity Zone (QOZ) program is approaching, and many QOZ development projects are completed or nearing stabilization. The deadline to invest an eligible gain into a QOZ Fund and receive the 10% step up in basis on the original invested gain is also imminent (December 31, 2021). […]
-
Emergency Rental Assistance Program Funds to be Redirected
The Treasury Department will begin reallocating Emergency Rental Assistance Program funds to states and municipalities that have demonstrated the greatest ability to deliver funds to tenants and landlords and to locations experiencing the highest needs. In other words, funds originally allocated to states and cities that have not used a majority of their funds will […]
-
Recent Analysis from Federal Government Highlight Opportunity Zone Investment and Compliance
On October 7, 2021 the Government Accountability Office (GAO) issued their second report on Qualified Opportunity Zones (QOZs). The GAO report included more than 100 pages of analysis on the overall effectiveness of the QOZ program. Similarly, on November 16, 2021 the House Ways and Means Committee conducted a hearing on QOZs. Total estimated QOZ […]
-
The Infrastructure Package’s Effect on the Employee Retention Credit
On November 5th, the House of Representatives passed the $550 billion infrastructure package, almost three months after the Senate approved the same proposal. Now, the infrastructure bill will go to President Biden for signature. Upon enactment, the employee retention credit (ERC) will no longer be available, other than for recovery startup businesses, for qualifying wages […]
-
Timing Considerations for Opportunity Zone Investments: Key Dates and What Investors and Sponsors Should Expect
Qualified Opportunity Zone (QOZ) investment activity often ebbs and flows throughout the year, with the greatest amount of activity taking place near timeout dates or the expiration of certain QOZ benefits. One such important benefit is the 10% step up in basis, which is set to expire on December 31, 2021. Investors that wish to […]