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UPDATES&INSIGHTS: TAX – February 2020

UPDATES&INSIGHTS:TAX is a HoganTaylor Tax practice publication designed to help you keep up with the latest tax issues impacting your organization.

In This Issue:

Own a Pass-Through Entity? Beware the Ides of March

“Beware the Ides of March.” Shakespeare’s words don’t apply just to Julius Caesar; they also apply to owners of pass-through entities such as calendar-year partnerships and certain S corporations and limited liability companies. Why? Because the Ides, March 15, is the federal income tax filing deadline for such entities. This article explains the details. Read More

Careful Tax Planning Required for Incentive Stock Options

Incentive stock options are a popular form of compensation for executives and other key employees. They’re a nice perk, but careful tax planning is required because of the complex rules that apply. This article discusses their advantages and offers some tips on managing the tax impact on the 2019 tax year, as well as in the future. Read More

Accounting for the Near and the Long Term in a Family Budget

A good family budget should be simple yet comprehensive. As this brief article explains, this objective can be accomplished by addressing both the near term (such as day-to-day items) and the long term (such as college educations and retirement). Read More

The TCJA Effect: Qualified Residence Interest

The Tax Cuts and Jobs Act (TCJA) made a significant impact on the deductibility of various types of interest expense for individuals. One area affected is qualified residence interest. This article reviews the TCJA’s effect on this type of interest. A sidebar looks at the law’s impact on investment interest. Read More