Insights

Tax  |  By Robert Crowley, CPA

The Taxation of Income from Cryptocurrencies in Various Jurisdictions — USA

Recently, we have seen a growth in the sale or exchange of cryptocurrency, or the use of cryptocurrency to pay for goods or services. Unfortunately, guidance from the Internal Revenue Service (IRS) pertaining to related US income tax issues has not...

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Tax  |  By Joseph Cain, CPA

IRS Clarifies 199A Section of Tax Law, Provides Safe Harbor and a 20% Deduction To Rental Real Estate Enterprises

If you own rental real estate, the fact that the IRS just issued Notice 2019-7, which clarifies Section 199A of the Tax Cuts and Jobs Act of 2017 could work to your benefit. The clarification will help in determining whether a rental real estate...

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Tax  |  By Joseph Cain, CPA

Opportunity Zones: A Win/Win for Communities And Your Capital Gains Tax Bill

The new tax law passed last December certainly has its boosters and its detractors, but it also has written into it something that appears to be a proverbial win/win. While this new provision does offer tax breaks to those among us who receive...

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Tax  |  By Harold B. Peterson, Jr., CPA, JD

The Tax Cuts and Jobs Act of 2017 and Its Impact on the Entertainment Industry

The Tax Cuts and Jobs Act of 2017 (“TCJA”) was signed into law by President Trump on December 22, 2017. It has been hailed as the largest overhaul of the US federal income tax since 1986. While many diverse industries will realize significant...

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