Tax Relief to Help Weather the Storm of COVID-19
As the COVID-19 pandemic has wreaked havoc on our personal, financial and business lives, the government has responded with legislative and administrative relief.1 This is a high-level summary of some of the enacted measures and the tax benefits, relief and other options available to individuals and businesses.2
1. Individuals Receiving Cash.
These funds are a rebate against a refundable tax credit … Read More
Jaburg Wilk Partner Receives Outstanding Tax Attorney Award
PHOENIX, Ariz. (07/10/2019) – Beth Cohn, a shareholder at the Phoenix law firm of Jaburg Wilk, recently received the 2019 Henry Tom Outstanding Tax Attorney Award by the State Bar of Arizona Tax Law Section. The award is given to the tax attorney who made significant contributions to the field of tax law and demonstrated extraordinary leadership, initiative and innovation.
Beth assists her business … Read More
Beth Cohn: Speaker for AZ Crew Luncheon
Beth Cohn will discuss on "How the New Tax Law Impacts Real Estate Deals and Even Your Paycheck!"
What: Beth Cohn and Sandy Abalos will discuss the new tax law and their impact on real estate transactions including 1031 Like-Kind Exchanges, new partnership audit rules, reduced or elimination of travel and entertainment expenses, new 20% deduction for pass-through entities, estate planning … Read More
2018 Estate Tax Changes
Under the new tax law, estate tax has not been repealed. However, there is relief for higher net worth individuals, business owners and people with large estates that have little or no liquidity who previously might have sold their assets to pay estate taxes.
Effective January 1, 2018, the new estate tax laws increased the lifetime exclusion … Read More
Partnership Audit Rules Have Changed Under New Tax Law
Congress enacted the Bipartisan Budget Act of 2015 (“BBA”) under which existing partnership audit rules have been replaced. The new BBA audit rules are broad and complex and effective for partnership tax returns filed for tax years beginning in 2018. Under the prior audit rules, the tax liability flowed through to each partner. Under the new … Read More
10 Steps to Take Now to Minimize Taxes under the New Tax Law
The overhaul of the Internal Revenue Code was passed by Congress on December 21, 2017 and signed into law by the President. Many changes become effective January 1, 2018. Although 2017 is almost over, the following are some actions to consider taking now to potentially save taxes.
Before the end of 2017 consider taking the following actions:
Pay 2017 state and local income taxes in 2017. … Read More