Posts Tagged ‘Income Taxes’
Record-High Exemptions for Tax-Free Gifting Set to Expire Soon
At a glance The full story: When the Tax Cuts and Jobs Act (TCJA) went into effect on January 1, 2018, it temporarily doubled the exemptions for combined gift and estate taxes with a sunset date of December 31, 2025. As we near the expiration date, it is important for taxpayers to reassess their estate…
Read MoreFinal FTC Regulations: Significant Changes to the Creditability of Foreign Income Taxes
By: Jed Rogers; Tamara Fusillo At a glance Schedule a consultation today The full story: The final regulations on foreign tax credits fundamentally modify the rules for determining the creditability of foreign tax. For creditability, a foreign income tax must satisfy the net gain requirement, which includes tests to establish realization, gross receipts, and cost…
Read MoreBallgames, Dinners and Tax Reform: The New Meals and Entertainment Deductions
Say goodbye to tax deductions for business entertainment expenses like baseball tickets and golf outings. It used to be OK to lump together things like games and dinners as “meals and entertainment” expenses because all those things were generally 50% deductible. But recent federal tax reform has changed that, though standalone business meals may remain…
Read MoreTaxes for Expats: How to Reduce Tax Liability Working Overseas
Taxes for expats: If you’re an expat, it’s more important than ever for you to understand your U.S. tax filing requirements. Learn more.
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