Last month the Virginia General Assembly (GA) wrapped up its legislative work, which included a multitude of changes to Virginia tax law. Historic Rehabilitation Tax Credit Since 2017, there has been in place a $5… Read more
Recent Posts
IRS Releases Section 199A Safe Harbor Rules for Rental Real Estate Enterprises
Recently, the Internal Revenue Service released final regulations under Section 199A, a section in the Internal Revenue Code introduced with the 2017 Tax Act. These regulations provide a deduction to a non-corporate taxpayer for up… Read more
Save Taxes While Helping Preserve History: Historic Rehabilitation Tax Credit Programs
What are Historic Rehabilitation Tax Credits? The Historic Tax Credit (HTC) programs (federal and Virginia) are designed to promote the public policy that the preservation of historic community assets is an important part of protecting… Read more
Using Opportunity Zones to Revitalize Areas Throughout Virginia
Using Opportunity Zones One of the more innovative provisions in the 2017 Tax Cuts and Jobs Act (TCJA) provided for the creation of Opportunity Zones. Using the Internal Revenue Code to drive policy or incentivize… Read more
Section 199A: What do the proposed regulations mean?
Looking at a few points that amplify complexity. A Brief Primer Section 199A, enacted in December 2017 as part of the Tax Cuts and Jobs Act (“TCJA”), allows individuals and certain other non-corporate taxpayers to… Read more
Retirement Security and Disclosure Burdens
Executive Order Directs Department of Labor and Department of Treasury to Take Steps to Strengthen Retirement Security and Reduce Disclosure Burdens On August 31, 2018, President Trump signed an executive order (EO) announcing a goal… Read more
Pass-Through Entities and the 2017 Tax Act
The Tax Cuts and Jobs Act of 2017 contain several provisions applicable to pass-through business entities (“PTEs”), which include partnerships (and LLCs that are treated as partnerships for federal income tax purposes), S corporations, and… Read more
The New Tax Reform & the HR Department
Sexual Harassment Settlements With Non-disclosure Agreements Are No Longer Tax Deductible. The 2017 Tax Cuts and Jobs Act (the “Act”) affects employers who settle sexual harassment claims and wish to keep the settlement from… Read more
Self-Settled Asset Protection Trusts
An old curse of somewhat unsettled origin states: “May you live in interesting times.” For many individuals, a plan for interesting times should include consideration of the use of a self-settled asset protection trust. A… Read more
Deferred Compensation and the Disability Claims Regulation
The Department of Labor has issued a regulation that expands the procedural requirements for disability claims made under employee benefit plans. Plans are required to be in compliance with the regulation by January 1, 2018. This… Read more