New Partnership Audit Rules: Why You May Need an Updated Partnership or LLC Operating Agreement

In 2015, the Bipartisan Budget Act completely overhauled the IRS audit rules for partnerships, which include limited liability companies (LLCs) taxed as partnerships and their partners. Those rules will go into full effect for tax returns filed for the 2018 tax year. While there is uncertainty on the application of these rules until we receive […]

Tax Reform 2017: What You Need to Know

Table of Contents Corporate and Business. 2 Individuals. 7 Estate/ Gift Tax. 12 Charitable Contributions/ Non Profits. 13 Other. 14 Real Estate. 14 Depreciation. 14 2017 Tax Reform On December 22, 2017, President Trump signed the bill previously known as the Tax Cuts and Jobs Act into law.  The final bill removed the name “Tax […]