Elkins' Guide to Tax Cuts and Jobs Act PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Elkins' Guide to Tax Cuts and Jobs Act PDF full book. Access full book title Elkins' Guide to Tax Cuts and Jobs Act by Tim Elkins. Download full books in PDF and EPUB format.
Author: Tim Elkins
Publisher:
ISBN: 9781723969126
Category :
Languages : en
Pages : 131
Get Book
Book Description
The Elkins' Guide - "Tax Cuts and Jobs Act" - provides readers with not only details of the Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, 2017, but also discusses provisions of the Bipartisan Budget Act of 2018, as well as the Disaster Tax Relief and Airport and Airway Extension Act of 2017. Most of the discussion in the Guide is about provisions of the TCJA. However, tax laws that had expired in 2016, but were retroactively extended to 2017 and 2018 by the Bipartisan Budget Act of 2018, which was passed in February, 2018, are also discussed. The Airport and Airway Extension Act of 2017, which was passed on September 9, 2017, provided temporary tax relief to victims of Hurricanes Harvey, Irma, and Maria and the California wildfires. Other laws that are mentioned in the Guide include the 21st Century Cures Act passed in December 2017, which allows small employers that do not maintain group health plans to establish stand-alone HRAs that are called Qualified Small Employer Health Reimbursement Arrangements (QSEHRA). Also, the Federal Register Printing Savings Act of 2017 is mentioned, which delayed until 2022 implementation of the "Cadillac" tax on employers for excess employer-sponsored health insurance coverage. Every effort has been taken to make the Elkins' Guide - "Tax Cuts and Jobs Act" - easy to understand. The intent was to write the book in plain, understandable English, trying to make the complicated tax laws and regulations easier to grasp. The contents of the Guide are cross-indexed to other Sections in the Guide that may provide further explanations without readers having to search for the information. In addition, the Guide includes "links" that readers can "click on" and their computer will take them directly to PDFs of applicable IRS forms, publications, court cases, and proposed regulations. Of course, this can only be done if you have the Kindle version of the Guide, but the links are shown in the printed version, so all you have to do is type in the links on your computer.
Author: Tim Elkins
Publisher:
ISBN: 9781723969126
Category :
Languages : en
Pages : 131
Get Book
Book Description
The Elkins' Guide - "Tax Cuts and Jobs Act" - provides readers with not only details of the Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, 2017, but also discusses provisions of the Bipartisan Budget Act of 2018, as well as the Disaster Tax Relief and Airport and Airway Extension Act of 2017. Most of the discussion in the Guide is about provisions of the TCJA. However, tax laws that had expired in 2016, but were retroactively extended to 2017 and 2018 by the Bipartisan Budget Act of 2018, which was passed in February, 2018, are also discussed. The Airport and Airway Extension Act of 2017, which was passed on September 9, 2017, provided temporary tax relief to victims of Hurricanes Harvey, Irma, and Maria and the California wildfires. Other laws that are mentioned in the Guide include the 21st Century Cures Act passed in December 2017, which allows small employers that do not maintain group health plans to establish stand-alone HRAs that are called Qualified Small Employer Health Reimbursement Arrangements (QSEHRA). Also, the Federal Register Printing Savings Act of 2017 is mentioned, which delayed until 2022 implementation of the "Cadillac" tax on employers for excess employer-sponsored health insurance coverage. Every effort has been taken to make the Elkins' Guide - "Tax Cuts and Jobs Act" - easy to understand. The intent was to write the book in plain, understandable English, trying to make the complicated tax laws and regulations easier to grasp. The contents of the Guide are cross-indexed to other Sections in the Guide that may provide further explanations without readers having to search for the information. In addition, the Guide includes "links" that readers can "click on" and their computer will take them directly to PDFs of applicable IRS forms, publications, court cases, and proposed regulations. Of course, this can only be done if you have the Kindle version of the Guide, but the links are shown in the printed version, so all you have to do is type in the links on your computer.
Author: Tim Elkins
Publisher:
ISBN: 9781724010315
Category :
Languages : en
Pages : 509
Get Book
Book Description
The 2019 Edition of the Elkins' Tax Guide includes a separate 63-page Section that discusses all provisions of the "Tax Cuts and Jobs Act (TCJA)." This lets readers see those provisions all in one place without going through the entire text of the Guide. Also, all provisions of the TCJA are incorporated into the text of the 24 Chapters of the Guide.Included in the discussion of the Tax Cuts and Jobs Act (TCJA), among other provisions, are details of the: (1) 20% deduction under Section 199A; (2) Business interest expense limitation; (3) Repatriation tax; (4) Participation exemption; (5) Global Intangible Low Tax Income (GILTI); (6) Foreign Derived Intangible Income (FDII); and (7) Base Erosion and Anti-Abuse Tax (BEAT). The TCJA allows a deduction of up to 20% on qualified business income of passthrough entities such as sole proprietorships, partnerships, and S-corporations for tax years beginning after Dec. 31, 2017. The Guide includes a clear description of qualifications for the 20% deduction and examples of how it is computed. And the same can be said for the other six provisions mentioned above. Also, any IRS proposed regulations applicable to these and other provisions of the TCJA are shown, and a "link" is provided to access the proposed regulations.Every effort has been taken to make the Elkins' Tax Guide easy to understand. The intent was to write the book in plain, understandable English, trying to make the complicated tax laws and regulations easier to grasp. The contents of the Guide are cross-indexed to other Sections and Chapters in the Guide that may provide further explanations without readers having to search for the information. In addition, the Guide includes "links" that readers can "click on" and their computer will take them directly to PDFs of applicable IRS forms, publications, court cases, and proposed regulations. Of course, this can only be done if you have the Kindle version of the Guide, but the links are shown in the printed version, so all you have to do is type in the links on your computer.Chad Elkins has his own CPA practice in Chicago. He is Certified Public Accountant (CPA), and in addition to having his own practice for several years, he has had experience working for the U.S. Tax Court and the Tax Division of the U.S. Department of Justice. Chad graduated with an MBA from the University of Notre Dame, and he passed all parts of the CPA exam the first time he took it with outstanding scores. The CPA exam is considered the most difficult professional exam, with the CPA designation regarded as the most difficult professional license to obtain. If you need help with your taxes or you just have a tax question, please feel free to contact Chad Elkins, CPA, in Chicago at (703) 217-6646. You can also contact Chad through his website and on Yelp at:https://www.elkinscpa.com or https://www.yelp.com/biz/chad-elkins-cpa-chicago?start=20
Author: Chad Elkins
Publisher:
ISBN: 9781651998748
Category :
Languages : en
Pages : 544
Get Book
Book Description
The "Elkins' Tax Guide 2020 Edition" contains the final regulations and all guidance for the Tax Cuts and Jobs Act (TCJA) issued by the IRS through November 2019. And it is translated into easy to understand English for the reader. Also, other provisions of the tax regulations and guidance from the IRS are updated through November 2019. The Guide contains a separate 93-Page Section dedicated to the "Tax Cuts and Jobs Act (TCJA)." This allows readers to see all of the regulations and guidance for the TCJA all in one place without having to go through the entire text of the Guide. Also, all provisions of the TCJA are incorporated into the text of the 24 chapters of the Guide.The Guide is cross-indexed to other sections in the Guide so that readers can easily find other information on any tax provision they may be researching. In addition, links are provided to the actual IRS regulations and guidelines that makes it easy for the reader to go directly to the full text of the IRS's final regulations, guidance and proposed regulations. Links are also provided to IRS Forms and Schedules and to some important court cases that may be of particular interest and help to the reader. Every effort has been taken to make the "Elkins' Tax Guide 2020 Edition" easy to understand. The intent was to write the book in plain, understandable English, trying to make the complicated tax laws and regulations easier to understand for the reader. In the Kindle version of the Guide, you can click on the "links" and it will take you directly to PDF's of the applicable IRS's final regulations, proposed regulations, forms, publications and court cases. Otherwise, you can type the links in your computer and it will easily take you to those documents. There is also an "Index" to help you find what you're looking for.
Author: Chad M. Elkins
Publisher: CreateSpace
ISBN: 9781503116979
Category : Business enterprises
Languages : en
Pages : 488
Get Book
Book Description
NOTE: ON DEC. 16, 2014, CONGRESS APPROVED THE RETROACTIVE EXTENSION OF ALL OF THE TAX BREAKS REFERRED TO AS "TAX EXTENDERS" IN THIS GUIDE. THE "TAX EXTENDERS" (SEE CHAPTER ONE) WERE ONLY EXTENDED THROUGH THE END OF THE 2014 TAX YEAR. This is only the second year that the "Elkins Comprehensive Tax Guide" has been offered, and the 2015 Edition is considerably improved over last year's edition. First, it includes a new "Index," and second, the contents are entirely cross-referenced to other pages in the Guide, making it more user friendly. Also, the 2015 Edition has been expanded (over 175 pages have been added) by including more subject matter, as well as more and clearer explanations and examples. However, with all these improvements, the authors' goal to make this Guide the easiest to use, most understandable tax reference available to anyone, including tax professionals, was not lost. The authors believe that the vast majority of the content meets the "understandable" goal for all readers. The Guide includes all of the "hot" tax topics from the "Affordable Care Act" and the "New Tangible Property and Repair Regulations," to the "Foreign Account Tax Compliance Act" (FATCA). The Guide follows the flow of a tax return, from filing status and requirements through tax credits. It contains detailed, clear discussions and examples on: taxable income; income exclusions; deductions in determining adjusted gross income; itemized deductions; employee travel and entertainment expenses; depreciation; and carrying on a trade or business as a sole proprietor, farmer, partnership, or S-Corporation. The Guide also provides discussions and examples needed to understand estate and trust income, the estate and gift tax, and the alternative minimum tax (AMT). It clearly explains how both the regular and refundable AMT tax credits work together, and differences between the two credits. All tax and compliance aspects of the "Affordable Care Act" (ACA) are discussed in easy to understand language, including: the 0.9% Medicare surtax; the 3.8% net investment income surtax; and the small business health care tax credit. All aspects of both the individual and employer mandates are discussed, including the shared responsibility payments (penalties), exemptions from having to have insurance coverage, premium tax credits, how to prove you have health insurance, how to figure the number of full-time equivalent employees (FTEs), and the ACA reporting requirements. The "New Tangible Property and Repair Regulations," which were finalized and went into effect on Jan. 1, 2014, are also included in the Guide. This law is very complex and has been interpreted in different ways. However, the discussions and examples included in this Guide clearly explain a complex law in a way that can be understood by most readers. Reporting foreign financial accounts and assets, as set-forth in FATCA, is America's new global initiative to fight offshore tax evasion by U.S. citizens. The Guide discusses how the law's agreements with foreign countries and registrations of foreign financial institutions have made the law a success by getting Americans with foreign bank accounts to come forward like never before. The IRS's Offshore Voluntary Disclosure Program (OVDP) and the "Streamlined Program" are both discussed as key provisions in getting taxpayers with offshore accounts to comply with reporting requirements. Other important information is provided regarding misclassifying workers as independent contractors instead of employees, and reasonable salaries of S-corporation shareholder-employees, both of which the IRS is currently focusing on. The authors' experience and knowledge of tax laws were used in compiling this Guide. Even though some IRS regulations and court cases are referred to in this Guide, the aim was to keep these references to a minimum; instead focusing on clear and understandable examples and explanations in plain language.
Author: Frank L. Brunetti
Publisher: CCH Incorporated
ISBN: 9780808050018
Category : Business & Economics
Languages : en
Pages : 0
Get Book
Book Description
The CCH Guide on the Tax Cuts and Jobs Act Impact--Exceeding the Standard Deduction describes the effect of certain major changes affecting individuals.These include the changes to personal deductions, including the doubling of the standard deduction, the imitation placed on combined state and local income taxes, property taxes and sales taxes, and the elimination of home equiity interest and most itremized deductions. This Guide provides tips to maximize or preserve some of the benefits from these lost deductions.
Author: Susan Flax Posner
Publisher:
ISBN: 9780808049685
Category : Business & Economics
Languages : en
Pages : 0
Get Book
Book Description
The "Tax Cuts and Jobs Act" is the most significant overhaul of the United States Tax Code in the last 30 years. The new laws will dramatically impact individual taxpayers starting in 2018 and for years to come, regardless of income level. Whether you are married or single, an employee or self-employed, have children or do not have children, this historic legislation will change how you calculate and file your taxes. This publication provides practical, easy-to-understand explanations of the new tax laws and their impact. Specifically, this publication covers changes made by the "Tax Cuts and Jobs Act" to: Tax Rates, Standard Deduction, Itemized Deductions, Mortgage Deduction, Property Tax Deductions, Personal Exemption Deductions, Child Tax Credit, Education Savings and Benefits, Nontaxable Income, Retirement Savings, Alternative Minimum Taxes, Estate and Gift Taxes, Small Business Taxes
Author: Robert Watt Jamison
Publisher: CCH Incorporated
ISBN: 9780808049913
Category : Business & Economics
Languages : en
Pages : 0
Get Book
Book Description
The Tax Cuts and Jobs Act is considered the most sweeping tax law change in decades, and for many individuals and businesses the massive and complex changes will have profound impacts. In particular, the multitude of provisions will vastly impact small businesses. How are you helping your small business clients prepare? The all-new CCH(R) AnswerConnect: Tax Cuts and Jobs Act Impact - Guide to Small Business will address concerns and provide in-depth details on the provisions, implications and benefits small businesses may witness as a result of the new Act. Lower individual tax rates, expansion of the IRS Code Sec. 179 deduction, the new 20% deduction on qualified business income (QBI) for certain pass-through entities and the reduced corporate income tax rate are just a few of the big and somewhat complex changes that will be in effect. It's highly recommended that you prepare now to mitigate risks and ensure that your small business clients have a complete understanding of how the Tax Cuts and Jobs Act will significantly impact the way they do business. The CCH Answer Connect Guide on Small Business explains the implications of the changes made by the Tax Cuts and Jobs Act. affecting small businesses. Items in the Act that affect small businesses include, among others, the revised tax rate structure for corporations, the Section 179 deduction, bonus depreciation, luxury car deductions, and the changes made to the taxation of pass-through entities (including the new 20% of QBI deduction available to certain pass-throughs. Other changes are also discussed including the section 199 deduction, the rules for net operating losses, the deductibility of entertainment expenses, the deduction for fringe benefits, the deduction for on-site eating facitlities, the deduction for business interest expenses, and a tax credit for employer-paid wages for medical or family leave.
Author: Robert Watt Jamison
Publisher:
ISBN: 9780808049890
Category : Business & Economics
Languages : en
Pages : 0
Get Book
Book Description
The Tax Cuts and Jobs Act is considered the most sweeping tax law change in decades, and for many individuals and businesses the massive and complex changes will have profound impacts. The treatment of pass-through entities is one of the many areas where the new Act promises to fundamentally change the approach to tax planning for many business owners. The all-new CCH(R) AnswerConnect: Tax Cuts and Jobs Act Impact - Guide to Pass-Through Entities is focused on the major changes made to the tax rules for pass-through entities, including limited liability companies (LLCs), partnerships, S Corporations and sole proprietorships. Currently, the income from these pass-through entities flows through to the individual owners and is taxed at the individual rate. However, the tax landscape for pass-through entities will change considerably under the new tax law. The CCH Answer Connect Guide on Pass-Through Entites is focused on the major changes made by the Tax Cuts and Jobs Act in the way that business income generated by pass-through entities such as limited liability companies (LLCs), partnerships, S corporations or sole proprietorships is taxed. Under the old law, the net income of these pass-through entities was not taxed at the entity level but was taxed instead by the owners of the business at their individual tax rate. The Tax Cuts and Jobs Act adds a new section to the Code which provides that a non-corporate taxpayer who has qualified business income from a partnership. S corporation or sole proprietorship may be entitled to an additional deduction.
Author: Congress (U S Joint Committee on Taxat
Publisher: Government Printing Office
ISBN: 9780160944024
Category : Business & Economics
Languages : en
Pages : 590
Get Book
Book Description
In this report, you will find guidance about the tax rate reform legislation for working American taxpayer citizens that file Federal individual tax returns. This report outlines modifications for taxable years 2018 through 2025. Populations covered are married individuals filing joint returns and surviving spouses, head of households, unmarried individuals other than surviving spouses and heads of households, married individuals filing separate returns, estates and trusts, and more. Additionally, you will find specific tax rate information and criteria relating to deductions for qualified business income, simplification and reform of family and individual tax credits including child tax credit and new family credit, credit for elderly and permanently disabled, repeal of credit for plug-in electric drive motor vehicles, modification of deduction for home mortgage interest, modifications to the deduction for charitable contributions, reform of American opportunity tax credit and repeal of lifetime learning credit, reforms to discharge of certain student loan indebtness, repeal of deduction for student loan interest and qualified tuition and related expenses, reduction in corporate tax rate, and much more. Adult American citizens required to file Federal income taxes, small businesses and corporation owners and staff, certified public accountants, tax professionals including tax advisors and preparers, payroll staff, IRS officials and agents, members of Congress, and charitable organizations may be interested in this legislation. Students pursuing coursework in tax preparation, business accounting, tax advisory, and public finance courses may find this primary source legislation helpful for research papers and testing requirements. Related products: H.R. 1, To Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018, Title A, Individual Tax Reform produced by U.S. Senate with Amendments specifically to the repeal of sections with amendments for the Internal Revenue Code of 1986 is available here: https://bookstore.gpo.gov/products/hr-1-individual-tax-reform Jobs & Employment resources collection here:https://bookstore.gpo.gov/catalog/jobs-employment Taxes, Audits & Accounting collection here:https://bookstore.gpo.gov/catalog/taxes-audits-accounting
Author: Robert Watt Jamison
Publisher: CCH Incorporated
ISBN: 9780808049906
Category : Business & Economics
Languages : en
Pages : 0
Get Book
Book Description
The Tax Cuts and Jobs Act is considered the most sweeping tax law change in decades, and, for many individuals and businesses, the massive and complex changes will have a profound impact. This includes the impact on choice of entity decisions, affected by how C corporations and pass-through entities will be taxed under the new Act. These drastic changes may cause many businesses to reconsider their current entity structure. The all-new CCH(R) AnswerConnect: Tax Cuts and Jobs Act Impact - Guide to Choice of Entity discusses the factors involved in choosing a form of business entity. The options available include being taxed as a C Corporation, where the entity is responsible for paying taxes, or being taxed as a pass-through entity, where the individual owner of the entity is responsible for paying the tax. With this authoritative guide you will gain a more solid understanding of the tax implications of choice of entity, the advantages and disadvantages of changing entities and the factors to consider before making that decision. The CCH Answer Connect Guide on Choice of Entity discusses the factors involved in choosing a form of business entioty after the Tax Cuts and Jobs Act.. Basically the choice is either a C Corporation where the entity is responsible for paying the taxes or a Pass-Through Entity (S Corporation or Partnership) where the individual owner of the entity is responsible for paying the tax. Factors to be considered in making this choice include, among others, the number and types of owners, the jurisdctions in which the business operates, the type of business and industry and the desired tax treatment.. Many businesses may feel that the tax treatment of a pass-through is more favorable because pass-throughs are not subject to a double tax and pass-throughs are able to utilize the capital gain tax rate on the eventual sale of the assets of the business. Hiowever, the changes made to the corporate tax law by the TCJA, such as the reduced tax rate of 21% may make the C Corporation entity more attractive.
