House passes infrastructure legislation; sends bill to President Biden
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
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2021 year-end tax considerations for businesses
This RSM US, LLP year-end planning guide reflects the tax considerations and developments that we believe may create risk or opportunity for businesses in 2021 and beyond. It is not an exhaustive list of all tax issues that may affect your business, but it is designed to help you make informed decisions related to year-end tax planning.
Build Back Better Act – What is in and what is out?
After intense negotiations, some provisions were eliminated while others were rewritten in an effort to appease all Democratic members.
Nonqualified deferred compensation plans and payroll tax withholding
One of the most common issues overlooked by employers relates to the special timing rule in section 3121(v)(2).
SBA Enhances the Economic Injury Disaster Loan Program
The SBA has modified and enhanced the Economic Injury Disaster Loan (EIDL) program to expand both eligibility and program benefits. In this video, we'll quickly cover the changes and how they might help you and your business.
Family offices and tax changes: Considerations from the House proposal
Family offices affected by income and transfer tax increases on individuals, estates and trusts proposed by House Ways and Means Committee.
House Ways and Means Committee Proposed Tax Changes
The House of Representatives Ways and Means Committee recently released draft legislation that would increase taxes to help pay for the proposed $3.5 trillion spending package. In this video, we briefly cover some of the more important proposed tax changes.
House Ways and Means releases reconciliation tax payfors
House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.
Senator Wyden’s draft proposals target partnership tax rules
Senator Wyden’s recent ‘discussion draft’ legislation, if enacted, would drastically alter many of the tax rules that apply to partnerships.
Tax Benefits of Opportunity Zone Funds
The proposed plan to increase long-term capital gains tax rates has motivated investors to seek opportunities to defer and reduce capital gains taxes. Opportunity Zone Funds have been increasing in popularity because of their ability to defer and reduce capital gains. Watch now to learn more about Opportunity Zone Funds.
Preventing and Addressing Fraud in Your Business
Fraud is a significant problem across businesses of all sizes. Here's a great video on steps you can take to prevent and address fraud in your business.
IRS enhances employee retention credit guidance for open questions
Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
2021 Mid-Year Outlook
Economic momentum underpins positive global equity returns causing gyrations in interest rates, hampering fixed income returns.
New IRS guidance on ADS recovery period of residential rental property
Guidance provides procedures to implement the retroactive 30-year ADS recovery period for residential rental property.
The Qualified Business Income Tax Deduction
The Qualified Business Income (QBI) Deduction can reduce an individual's tax liability on pass-through income by as much as 20% of taxable business income from the entity. Here's a great 3-minute video to find out more.
G7: Groundbreaking steps to a 15% global minimum tax
During conversations on Saturday June 5, 2021, the G7 made historic strides toward multilateral agreement on a 15% global minimum tax rate.