Image Image Image Image Image Image Image Image Image

Jesse Salzwedel, Author at Delap CPA

15 Nov

Partnerships Are Now Liable for U.S. Federal Income Tax

November 15, 2018 | By | No Comments

The Bipartisan Budget Act of 2015 established new rules for partnership audits and the assessment of tax. Effective for partnership returns filed for tax years beginning after December 31, 2017, the new partnership audit regime changes the way partnership adjustments are determined, and for the first time, makes a partnership liable for U.S. federal income […]

Read More

24 Sep

Five New Audit Campaigns

September 24, 2018 | By | No Comments

On September 10, 2018, the IRS Large Business and International Division (LB&I) identified five new audit campaigns that expand the focus areas under its issue-based examination program. Audit campaign summary: IRC Section 199 There is expected to be an increase in audits to ensure compliance for business entities that file Domestic Production Activity Deduction (DPAD) […]

Read More

16 Aug

Tax Benefits to Investing in Opportunity Zones

August 16, 2018 | By | No Comments

August 16, 2018 — A new section of the Tax Cuts and Jobs Act provides taxpayers an incentive to invest capital gains in low-income communities. In other words, these newly created “Opportunity Zones” provide options for property owners to reduce their overall tax liability while generating economic growth. All 50 states, the District of Columbia, and U.S. […]

Read More

08 May

Navigating the New Oregon Transit Tax

May 8, 2018 | By | No Comments

May 8, 2018 – The 2017 Oregon Legislature passed House Bill 2017, which includes a new statewide transit tax that becomes effective July 1, 2018. Oregon employers will be required to start withholding an additional 0.1% for the statewide transit tax from the wages of Oregon residents and nonresidents who perform services in Oregon. This tax […]

Read More