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HOW EMPLOYERS CAN CALCULATE NONDEDUCTIBLE EMPLOYEE PARKING EXPENSES, AND POSSIBLY REDUCE THEM BY MARCH 31, 2019

Background Employer business deductions for qualified transportation fringes ended in 2018. The 2017 tax reform known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, amended Sec. 274(a)(4) by eliminating employer business deductions for employee[1] qualified transportation fringe (QTF) benefit expenses, including qualified parking[2], mass transit and van pool benefits (although

IMPACT OF SEQUESTRATION ON CORPORATE AMT CREDIT REFUNDS

On January 14, 2019, the IRS updated its announcement (the “IRS Announcement”), Effect of Sequestration on the Alternative Minimum Tax Credit for Corporations to clarify that refundable alternative minimum tax (AMT) credits under Section 53(e) are not subject to sequestration for taxable years beginning after December 31, 2017. AMT Credits and Bonus DepreciationA

Eight Key Tax Planning Opportunities for 2019

More than a year after sweeping federal and state tax reform were enacted, businesses of all sizes are still wrapping their arms around the changes.  Additional guidance and regulations have been issued nearly every month—indeed, change is the new normal. Strategic tax planning now is key to lowering businesses’ total

Top 10 Property Tax Myths

Are you missing an opportunity to reduce your property tax liability?Nearly all local taxing jurisdictions, including municipalities, counties, and boards of education, generate tax revenue through the imposition of property tax, which is one of the most substantial sources of local government revenue. For many businesses, property tax is the