Business Tax Planning Opportunities Under the Tax Cuts and Jobs Act
As with any tax act, there are a number of areas for devious planners to take advantage. Following is a list of strategies you can take to ensure your business benefits from the new business tax landscape.
What’s the Deal with GILTI?
Introduced in 2017 as part of the Tax Cuts and Jobs Act, GILTI, or “Global Intangible Low Tax Income,” is an outbound provision that broadens the scope of foreign earnings subject to U.S. taxation with the goal of reducing the incentive to shift corporate profits out of the U.S. into low or zero-tax jurisdictions.[1] Applicable to large multinational companies and to U.S. shareholders of certain foreign corporations, GILTI is fundamentally an anti-deferral provision that limits the amount of foreign income a U.S. shareholder can defer from U.S. tax.
Nonprofit Forms 1023 & Form 1023-EZ
The main difference between Form 1023-EZ and Form 1023 is the information required from the organization and the time for approval. Form 1023 is used by organizations that are bigger and expect to receive more than $50,000 in the following three years. While Form 1023-EZ is three pages, Form 1023 is 26 pages!
How Should you Handle Car Ownership in Estate Planning?
Car ownership should always be considered when thinking of estate planning. There are different options to how a person should approach dealing with their vehicle and an estate plan.
How to Remove Public Online Information
The list of digital assets you may have online are endless, thus it is important that you either (1) set up a password manager kit, (2) include your digital assets in your estate plan, or (3) check if the website you are using allows you to add a recipient to your account once you pass away.
What Happens If A W-2 Employee Finds Out The Employer Wasn’t Withholding Employment Taxes?
Employers are responsible for sending the W-2 form to the IRS and to the employee each year, which reports the employee’s annual wages and the amount of taxes withheld from his or her paychecks.
What Happens to a Car Lease After the Car Lessee’s Death?
Often times, payments still need to be made and the payments become the responsibility of the deceased car lessee’s estate. Sometimes car dealerships will negotiate with the personal representative of the deceased’s estate and may be able to transfer the remaining lease to another person.
“AS IS” Clause in a Property Contract & Home Inspection Company
Issue 1: Does an “As Is” Clause in a Contract under Florida law Include Termites? Yes. An “as is” clause in
Qualified Opportunity Zone Funds
The first Opportunity Zones were designated on April 9, 2018. To date, the Treasury Department has certified more than 8,700 Opportunity Zones spanning 50 states, the District of Columbia, and five U.S. territories qualifying for the aforementioned tax benefits.
Higher Stakes in County Court for Florida Civil Lawsuits: What are the Minimum Amounts of Money you can sue for in Circuit Court in Florida?
The Florida court system has two tiers of trial courts; the circuit courts and county courts. Circuit courts have jurisdiction over
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