Public Sector

framed building

Energy Efficient Commercial Buildings Tax Deduction

In the early morning hours of February 9, 2018, Congress passed the Bipartisan Budget Act of 2018 which included an extension of the Internal Revenue Code Section 179D Energy Efficient Commercial Buildings Deduction, commonly referred as the Commercial Buildings Deduction or the 179D deduction, to include projects completed in 2017. How Does 179D Work? Section […]

Enhanced Fixed Asset Expensing Under the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act (“TCJA”) made significant changes to the way the cost of assets used in a trade or business are deducted under Internal Revenue Code Section 179 and the Bonus Depreciation rules. Section 179 Expensing Section 179 allows a business to expense the full cost of qualifying assets. Previously, businesses could […]

Tax Cuts & Jobs Act: Implications for Private Equity

As businesses and tax practitioners continue to determine the winners and losers of the December 22, 2017 Tax Cuts and Jobs Act (“TCJA”), it is clear that the substantial impact to private equity funds and their portfolio companies consists of a trade-off between the benefit of reduced corporate and individual rates and increased limitations on […]

Employee Related Expenses Disallowed Under the New Tax Law:

Prior to 2018, certain moving expenses were deductible against adjusted gross income if the move was related to the employee’s work and the distance was 50 miles further from the previous place of employment. Many employers had a policy that reimbursed employees for these moving expenses on a tax free basis. Changes in Moving Expense […]

Utilizing the New 20% Pass-Through Tax Deduction

The Tax Cuts and Jobs Act (“TCJA”) includes a provision allowing certain taxpayers a 20 percent deduction for qualified business income of pass-through entities. The new 20 percent pass-through deduction may provide a substantial amount of tax relief for sole proprietors, the owners of S Corporations and partnerships, and trusts and estates and their beneficiaries. […]