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Marcum LLP today released its 2019 Year-End Tax Guide.  The 54-page annual review discusses the first tax filing year under the Tax Cuts & Jobs Act of 2017 (TCJA). The report highlights 15 aspects of tax reform and its impact on individual and business taxpayers.

Topics include: 

  • The Tax Cuts and Jobs Act: Observations and Strategies After One Tax Season
  • Choice of Entity Under the New Tax Act: C Corporation
  • Qualified Small Business Stock After Tax Reform
  • Research and Development (R&D) Tax Credit:  Applicability and Benefits
  • Opportunity Zones: A Year Later
  • The “New” Tax Law: Construction Contractor Edition
  • How Was Real Estate Affected by the Tax Cuts and Jobs Act?
  • 2019 Year-End Tax Planning Strategies for Individuals
  • Gift and Estate Tax Changes under the Tax Cuts and Jobs Act: Transfer More Wealth Tax-Free
  • Deductibility of Assistive Reproductive Technology
  • Modern Updates for the Modern Family
  • TCJA: What Changed for Tax-Exempt Organizations
  • State and Local Tax (“SALT”)
  • Notable Provisions Affecting International Tax Transfer Pricing Update
  • 2019 Tax Rates and Income Limits Reference Tables 

“Our Annual Tax Guide is merely a sampling of the rules and regulations that are prominent in tax compliance,” said Joseph J. Perry, Marcum’s national tax leader. “Knowledge and experience, coupled with a deep understanding of the complexities of the applicable rules and regulations, lead to better client outcomes and better client service. Even as the year comes to a close, there will likely be significant tax proposals to consider at both the federal and state levels. Tax extender bills for annually renewed tax credits and deductions, plus amendments for expensing of leasehold improvements, are still winding their way through Congressional committees. Campaign trail tax proposals include a wealth tax, raising income and/or estate and gift tax rates, reversing aspects of the TCJA, increasing the social security wage base, and reducing pension and retirement account deferral opportunities, among others. At the state level, nexus expansion to capture sales and business taxes continues apace. Stay tuned. What changes ultimately will be enacted are anybody’s guess.” 

“The new tax law’s full impact was felt this tax season. While compliance may have been easier for millions of Americans, entrepreneurs, business owners and executives have certainly experienced more complexity, more tax schedules, and more limitations than we can remember from years past. We provide the Year-End Tax Guide as a reference to be used as a quick refresher on certain tax aspects, whether for individual, corporate, international, or estate and gift tax planning application,” said Tax Partner Diane Giordano, editor of the guide. 

The 2019 Marcum Year-End Tax Guide may be downloaded at https://www.marcumtaxguide.com/2019-tax-guide.

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