The leaves are turning, the temps are falling and the October 15 tax deadline is past, so it must be time for our Oktoberfest! Join your colleagues and friends from SDK at our annual after-deadline party – on the river at the beautiful Nicollet Island Pavilion. Thursday, October 25 is the date, 4:30-7:30 pm. We […]
Charitable Contributions under the Tax Cut and Jobs Act (TCJA)
With the passage of the TCJA, the adjusted gross income (AGI) limit for the deductibility of cash charitable donations increased from 50 percent to 60 percent for 2018-2025. However, this increase is only for cash gifts to qualifying charities such as public charities and private operating foundations.
IRS Issued Proposed Regulations on Section 199A
20% Pass – Through Deduction
For tax years beginning after December 31, 2017, pass-through businesses and sole proprietors are eligible for the pass-through deduction of up to 20% of qualified business income. This new deduction is thanks to the Tax Cuts and Jobs Act (TCJA) that was passed into law on December 22, 2017.