Insights Center: 2025 Tax & Legislative Changes
Individuals, businesses and not-for-profit organizations are all affected by the new tax law – and we are ready to help. Start by staying informed; you’ll find our analyses of the new law’s many provisions here.
Under Internal Revenue Code (IRC) Section 274(a)(4), no deduction is allowed for an expense of a qualified transportation fringe benefit (QTFB) provided to an employee of a taxpayer. IRC Section 512(a)(7) provides that a tax-exempt organization’s unrelated business taxable income (UBTI) is increased by the amount of the QTFB expense that would be non-deductible under IRC Section 274.
The recently enacted Opportunity Zone (OZ) legislation provides for two independent approaches to the basic investment proposition: ownership of OZ fixed assets (typically real estate) versus ownership of operating businesses located in the subject zones.
In our continuing efforts to cover tax matters of interest to businesses with global relationships, the following articles are presented in the March 2019 edition of International Tax Insights.
In a perfect world, we would not have to concern ourselves that our IT infrastructure and devices are not self-secured and impervious. Unfortunately, even the latest equipment and programs can eventually succumb to infiltration by bad actors.
A strong internal control system is important to charter schools for many reasons.
Over the years, PKF O’Connor Davies has striven to remain at the forefront of financial solutions for our global as well as domestic family office (FO) clients.
That’s a good question, and one that affects tens of thousands of taxpayers for the 2018 filing year. Included in the Tax Cuts and Jobs Creation Act of 2017 is a deduction for up to 20% of income generated from a qualified business.
As many colleges, universities and their related foundations gear up to implement Accounting Standards Update (ASU) 2016-14 – Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, one thing has become clear: liquidity is now a significant new disclosure which deserves important consideration.
Over the past two years, we have noted a significant increase in interest among our clients in transforming their accounting and financial functions into high-performing units.
The Financial Accounting Standards Board (FASB) issued accounting standards update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) in May 2014, almost five years ago.
Everyone seems to be talking about Opportunity Zones these days and understandably so. Not only does the new legislation provide for the deferral and partial forgiveness of tax on capital gain income from any source, it also allows for investment of those gains to grow tax free if held for a minimum of ten years.
Many manufacturers and distributors ship their goods using “free on board” (FOB) shipping point terms, where title legally transfers at the time of shipment.