Republicans do not have the luxury of wasting all their political capital on a damaging internal family feud that would drag on for weeks or months.

The Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump near the end of 2017 and it mostly took effect in 2018. While the TCJA impacts almost every single individual taxpayer to some degree, the changes also significantly impact corporations and small businesses. In some areas, the impact was purposeful and directed. However, in other ways, the TCJA will have both positive and negative secondary effects. One area that could see a secondary or unintended boost due to a new tax deduction (IRC § 199A) for pass through businesses is retirement plans with small business employers.

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This article will review some of the tax reform bill’s provisions as they relate to business owners in the roofing industry, and provide some guidance on changes that may be appropriate for the exiting owner.

Kenya plans to re-introduce some of the tax hikes that sparked deadly protests earlier this year, the government announced Friday, while a new deputy president was sworn in after weeks of drama.

In a pre-Budget meeting with Revenue Secretary Sanjay Malhotra, the Confederation of Indian Industry (CII) urged the government to continue tax reforms and boost capital expenditure in the Union Budget for 2025-26....

The UK tax agency has extended various deadlines for responses to consultations and for other work on tax reform, in light of COVID-19.

Singapore's Ministry of Finance has launched a public consultation on proposed corporate tax and income tax breaks.

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, has set out how the territory intends to respond to the OECD's proposed new international tax framework.

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, has set out how the territory intends to respond to the OECD's proposed new international tax framework.

Indonesia's lower house of parliament has signed off on a bill that provides for a two-stage hike to the headline value-added tax rate, the cancellation of a planned corporate tax cut, and the introduction of a new top rate of personal income tax.

The Guernsey Government on April 26, 2022, announced that a parliamentary debate on tax reform, scheduled for July, will now be delayed until the end of the year, to allow time for consideration of corporate tax options. Earlier, Guernsey's Policy and Resources Committee proposed that the territory could implement a goods and services tax to buoy the territory's finances.

The needs of all Australians - affordable housing, a secure job, a decent education for their children, a good health system and a comfortable retirement - will not be met if we don't achieve major tax reform.

At PwC we have put significant effort into generating a national conversation about Australia's tax system and the need to improve it.

Major tax reform is the most sensible lever to pull to combat a projected $48 billion in lost revenue in our new low growth economy.

The Covid 19 crisis is an opportunity to redefine tax policy and law. A calibrated approach to balance welfare economics with a vision to pioneer economic activity and national growth is needed.

For those clamoring for (and against) the year-end-expiring legislation, and anyone in favor of some tax-code simplification, today the government has offered an early holiday present: proposed reform for some key areas including the production tax credit (PTC) and investment tax credit (ITC).

This paper presents the results of an ex post evaluation of the impacts of a vehicle tax reform in Ireland, by carrying out a full social cost benefit analysis of a vehicle tax reform and shows that whilst successful in improving the fuel economy of new passenger cars, it may have caused unintended effects (increased proliferation of diesel vehicles in the passenger car fleet).

The Tax Cuts and Jobs Act is changing the way organizations do business, including health care organizations. To help you prepare for the changes and take advantage of new benefits, the Anders Health Care Group has compiled a chart on the most important provisions for the industry. Complete the form below to download the Tax...

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With a large salary comes a large tax liability for athletes, and that could be going up following tax reform. The Tax Cuts and Jobs Act brought benefits to many individuals, but athletes may notice some negative effects from it.… Read More

The post Tax Reform May Bring Bigger Tax Liability for Athletes appeared first on Anders CPAs.

Professional gamblers and hobby gamblers are now on the same playing field in the eyes of the IRS. Under the Tax Cuts and Jobs Act (TCJA), changes were made to how expenses and losses are deducted against gambling winnings. Previously… Read More

The post Tax Reform for Individuals: Changes in Deducting Gambling Losses appeared first on Anders CPAs.

The new Qualified Business Income (QBI) deduction is an area of tax reform that may affect how some business owners structure their entities. This new deduction puts flow-through businesses on a level playing field with C Corporations. In its simplest… Read More

The post Tax Reform for Businesses: Qualified Business Income Deduction appeared first on Anders CPAs.

There has been a lot of buzz about tax reform changes and how they will affect companies in the coming tax years. Some of these changes include the reduction of the corporate and individual tax rates, the repeal of the… Read More

The post Tax Reform for Businesses: Tax Rates and AMT for C-Corporations appeared first on Anders CPAs.

More manufacturers may be exempt from the Uniform Capitalization (UNICAP) rules following tax reform. The UNICAP rules from Code Section 263A generally require that certain direct and indirect costs associated with real or tangible personal property manufactured by a business… Read More

The post Tax Reform for Manufacturers: UNICAP Exemption Changes appeared first on Anders CPAs.

The Tax Cuts and Jobs Act is changing the way organizations do business, including not-for-profit organizations. To help you prepare for the changes and take advantage of new benefits, the Anders Not-for-Profit Group has compiled a chart on the most… Read More

The post Tax Reform: Impact on Not-for-Profits appeared first on Anders CPAs.

Anders is continually monitoring the 2017 Tax Cuts and Jobs Act to determine how it will affect individuals, businesses and organizations. Our tax experts are closely studying the new law and its impact on a variety of industries and created… Read More

The post Tax Reform Resources for Navigating the New Tax Plan appeared first on Anders CPAs.

The Tax Cuts and Jobs Act (TCJA) significantly changed the tax benefits of donating to your favorite charity starting in 2018. Now that we’ve seen a full year with the new provisions, not-for-profit organizations are taking a look at the… Read More

The post Charitable Giving is Down Following Tax Reform: How Not-for-Profits Should React appeared first on Anders CPAs.

The new 21% corporate tax rate allows C corporations to pay federal taxes at a significantly lower tax rate than the 35% top rate in prior years. While the new tax rate took effect beginning in 2018, this new benefit… Read More

The post Fiscal-year Corporations Subject to Blended Tax Rates Following Tax Reform appeared first on Anders CPAs.

Senator Max Baucus, Chairman of the U.S. Senate Committee on Finance, releases a staff discussion draft on international business tax reform. Continue reading →

For many years, and particularly since the Energy Policy Act of 2005, U.S. federal income tax policy has served a dual function as both tax and renewable energy policy. However, last month House Ways and Means Chairman David Camp (R-MI) released an expansive tax reform proposal in which a number of credits and deductions for renewable energy technology were recommended for repeal, effectively rewriting renewable energy policy by a proposed elimination of renewable energy from the federal tax code.

For those clamoring for (and against) the year-end-expiring legislation, and anyone in favor of some tax-code simplification, today the government has offered an early holiday present: proposed reform for some key areas including the production tax credit (PTC) and investment tax credit (ITC).

On this episode: the Iowa caucuses, tax reform, and meet a scholar who studies global poverty reduction. First, a Brookings expert answers a student’s question about why the Iowa caucuses are so important. This is part of the Policy 2020 Initiative at Brookings. If you have a question for an expert, send a audio file…

FIlipino lawmakers are expected to soon sign off on a long-awaited tax reform bill to bring about personal income tax regime reform and broaden the value-added tax base.

The Philippines' Senate on November 28 approved its version of the Tax Reform for Acceleration and Inclusion (TRAIN) bill, which is expected to exempt 6.8 million workers from paying income taxes.

The Philippines is to take forward its tax reform agenda in January, with a second package of proposals to be tabled before Congress, after the first package was endorsed with some vetoes by President Rodrigo Duterte.

Legislation to bring down the Philippines' corporate income tax rate and overhaul the country's fiscal incentives has been tabled in the House of Representatives.

Corporate tax reform in the Philippines has moved a step closer with the introduction of House Bill No. 7458 into the country's parliament.

Business leaders in the Philippines say they fully support the Duterte Administration's proposed corporate tax reforms and investment incentives package.

Benjamin Diokno, the Philippines' Budget and Management Secretary, says the Government should secure the passage of all the remaining comprehensive tax reform bills within the next two months.

The Philippines' House Committee On Ways and Means has approved a Bill that would overhaul the rates in place on financial services and passive income.

On September 13, the OECD launched a substantial report on the tax policy reforms implemented last year by advanced nations.

"While countries do not necessarily need to tax savings more, there is a lot of room to improve the way countries tax savings," according to Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration.

The OECD has committed to providing proposals to fix the taxation of the digital economy by 2020, in an update to G20 leaders on international efforts to mitigate base erosion and profit shifting (BEPS).

The UK's 2018 Budget includes changes to tax rules for companies, and notably for multinational groups to conform with the EU's Anti Tax Avoidance Directive. Most significantly, the UK has decided to move ahead of the EU in announcing that it will apply a tax on the turnover of certain digital businesses.

Malaysia's 2019 Budget contains plans for an overhaul of sales and service tax rules and a corporate tax cut for small- and medium-sized enterprises.

During a webcast on June 11, the OECD provided a technical update on its work to develop new, modernized international tax rules for the digitalized economy.