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 […]

Blalock Walters Broadens Tax Law Practice Area, Hires Attorney Kristen H. Ehrlich

Bradenton-Sarasota, FL, December 11, 2017 ––The law firm of Blalock Walters, P.A. is pleased to welcome attorney Kristen H. Ehrlich to its firm. Ehrlich practices in the areas of estate planning, including trust and estate taxation, as well as business tax planning and Florida sales tax. She works with individuals and families together with corporations, […]

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 […]