AICPA requests immediate guidance from IRS and Treasury Department on deduction for qualified business income of pass-through entities

March 22, 2018The American Institute of CPAs (AICPA) requested immediate guidance from the Internal Revenue Service (IRS) and U.S. Department of the Treasury on various issues regarding section 199A of the new Internal Revenue Code, the deduction for qualified business income (QBI) of pass-through entities. “Taxpayers and practitioners need clarity regarding QBI in order to …

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Federal Tax Day – House Lawmakers Release Bipartisan IRS Reform Proposal,(Mar. 27, 2018)

A bipartisan proposal to redesign the IRS for the first time since 1998 was released on March 26. House Ways and Means Oversight Subcommittee Chairman Lynn Jenkins, R-Kan., and ranking member John Lewis, D-Ga., released the Taxpayer First Bill, a discussion draft of proposed legislation to improve IRS operations.“I am proud of the work this …

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Tax Reform Round 2 – Trump and Congress – More to Come!

Federal Tax Day – Current, C.1,Lawmakers, White House Continue to Talk Tax Reform Although tax reform was enacted last December under the Tax Cuts and Jobs Act (TCJA) (P.L. 115-97), the discussion of tax cuts and reform continues to be a priority among lawmakers on Capitol Hill. Additional tax bills are expected to move through …

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Tax Reduction Series–February

Yes, Tax Reform Did Kill Prospect and Client Meal Deductions You likely have heard conflicting information on the deductibility of business meals with clients and prospects. I have spent time researching this issue, and my conclusion is that tax reform eliminated tax deductions for business meals with clients and prospects. Before enactment of the Tax …

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“C” Club 2018 Primary Endorsements

“C” Club 2018 Primary Endorsements For more than 50 years, the “C” Club has carefully evaluated candidates running for elected office and endorsed those that embrace strong conservative values. The “C” Club believes sharing these endorsements with Harris County Republicans as one of its biggest responsibilities.  Since it takes no money from candidates in exchange for …

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