Monthly Archives: August 2018
In Proposed Regs 112176-18 issued August 23, 2018, IRS put a major damper on efforts to skirt the TCJA’s state and local tax deduction cap. I have found in talking to various professionals that these so-called SALT deduction workarounds are not very well understood in practice or effect. So, let’s start with a basic understanding […]
With the effective date of Topic 842, Leases, right around the corner, the FASB recently issued two new ASUs that update the lease accounting guidance originally issued in 2016. Both of these updates are effective at the same time as Topic 842. In July, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, […]
The IRS issued proposed regulations (107892-18) on August 8, 2018 regarding the passthrough deduction of §199A. Excepting the new season of Orange Is the New Black, nothing else has garnered as much anticipation this Summer as the arrival of these regs. Having read all 184 pages, I can tell you there is a lot of […]
Much has been written about Qualified Improvement Property (QIP) lately. QIP is defined as any improvement to an interior portion of a building that is nonresidential real property if such improvement is placed in service after the date such building was first placed in service. QIP does not include any improvement for which the expenditure […]
