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ALERTS & ARTICLES

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At Seiler LLP, we continually strive to provide our clients with current news, insightful opinions and tax planning tools throughout the year.

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Oct

29

2018

Year-end Tax Strategies for Businesses in the New Tax Environment

New tax laws implemented from the Tax Cuts and Jobs Act (TCJA) in late 2017 have made this coming tax season a completely different landscape for businesses. Now is the time to re-think your existing tax strategies in order to minimize your tax burden. We’ll highlight the major changes to expect this year and the […]

Oct

22

2018

IRS Issued Proposed Regs on Using Rental Real Estate Income for QBI Deduction

As a follow-up to the ongoing discussion of the Tax Cuts and Jobs Act’s qualified business income deduction, we’re diving in-depth on how rental real estate income may qualify as QBI under Section 199A. Download Now Overview of the QBI Pass-through Deduction As a brief review, the TCJA offers a tax deduction of 20% of […]

Sep

19

2018

IRS Issues Updated Guidance on New Bonus Depreciation Rules

The IRS has released proposed regulations that clarify the requirements for businesses to claim bonus depreciation deductions under the Tax Cuts and Jobs Act. While not yet finalized, the IRS will allow taxpayers to rely on these regulations for tax years ending on or after September 28, 2017 for any property placed into service after […]

Jul

26

2018

Qualified Opportunity Zones Offer New Tax Breaks

As part of the Tax Cuts and Jobs Act (TCJA), the IRS recently announced new qualified opportunity zones in low-income areas throughout the country, allowing for a number of favorable tax rules. The goal is to stimulate economic growth through business investment within these zones. Download PDF Eligible Tax Breaks in Qualified Opportunity Zones Eligible […]

Jul

10

2018

Supreme Court Opens Door to Taxation of Online Sales

In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the […]

Jun

25

2018

Tax-related Identity Theft Continues in 2018

The 2017 tax filing due date may have passed, but businesses and individuals are still at risk of becoming identity theft victims. We’ll show you common tax-related scams and how to protect yourself and your company. Download PDF What is tax-related identity theft? Tax-related identity theft typically occurs by a thief using a stolen social […]

Apr

02

2018

IRS Clarifies New Tax Law regarding Deductions for Homeowners

Passage of the Tax Cuts and Jobs Act (TCJA) in December 2017 has led to confusion over some of the changes to longstanding deductions, including the deduction for interest on home equity loans. In response, the IRS has issued a statement clarifying that the interest on home equity loans, home equity lines of credit and […]

Mar

28

2018

2018 Budget Act Brings Additional Tax Changes

On February 9, President Trump signed the Bipartisan Budget Act of 2018 (BBA), ending a brief government shutdown. This 2-year budget contains a host of tax law changes.  We have highlighted the primary areas the bill covers below. Download PDF Tax Extenders Retroactive through 2017 The BBA extends for one year a set of tax […]

Feb

14

2018

New Partnership Audit Regime Now Effective

Most eyes have been on the implications of the tax reform signed into law last December, but it’s not the only tax legislation to introduce significant changes. The Bipartisan Budget Act of 2015 changed how partnerships were to be audited, and those changes are now effective this year. Why Is This Happening? The Bipartisan Budget […]

Feb

08

2018

2018 Tax Calendar

Here’s a summary of important deadlines for this year. Be advised that some deadlines have been moved earlier or later compared to previous years.   Date Deadline  February 12 Individuals: Reporting January tip income, $20 or more, to employers (Form 4070). Employers: Reporting income tax withholding and FICA taxes for fourth quarter 2017 (Form 941) […]