Tax Alerts


IRS Finalizes Qualified Business Income (QBI) Safe Harbor for Rental Real Estate

Monday, September 30, 2019

  The final safe harbor rule contains only a few minor modifications from the proposed version found in Notice 2019-7. For example, under the final version, an interest in mixed-use property may be treated as a single rental real estate enterprise or may be bifurcated into separate residential and commercial interests. In addition, recordkeeping requirements […]

Tax Extenders Examined

Monday, September 30, 2019

  Top Senate Tax Writers Release First Round of Bipartisan Reports Examining Tax Extenders The Senate’s top tax writers have released the first round of bipartisan task force reports examining over 40 expired and soon-to-be-expired tax breaks known as tax extenders. Congress is expected to address these particular tax breaks, as well as temporary tax policy in general, […]

100% Bonus Depreciation Guidance

Monday, September 30, 2019

  100% Bonus Depreciation Guidance Allows For Late Elections and Revocations Bonus depreciation guidance that applies to property acquired after September 27, 2017, in a tax year that includes September 28, 2017, allows taxpayers to make a late election or revoke a prior valid election to: elect out of 100% bonus depreciation; elect 100% bonus depreciation […]

Vehicle Cents Per Mile Valuation Rule

Monday, September 30, 2019

  Proposed Regulations Update Fleet-Average, Vehicle Cents-Per-Mile Valuation Rules Proposed regulations increase a vehicle’s maximum value for eligibility to use the fleet-average valuation rule or the vehicle cents-per-mile valuation rule. The increase to $50,000 is effective for the 2018 calendar year. The maximum value is adjusted annually for inflation after 2018. The proposed regulations provide […]

Independent Contractors Defined by California Law

Monday, September 30, 2019

This article is reproduced with permission  from Spidell Publishing, Inc. AB 5, which codifies the California Supreme Court’s ruling in Dynamex Operations West, Inc. v. Superior  Court (2018) 4 Cal.5th 903, has been passed by the California Legislature and signed by the Governor. Under AB 5, most workers are presumed to be an employee unless […]