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Tax Archives | 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 […]

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13 Nov

Should Tax Reform Change your Home Buying Strategy?

November 13, 2018 | By | No Comments

Looking to purchase a house? Several factors require consideration, from rising interest rates to the economic climate. Have you thought about tax reform? The Tax Cuts and Jobs Act (TCJA) has changed the tax benefits of home ownership, financing and other related topics for taxpayers. Delap is here to answer the question, does tax reform […]

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08 Nov

Tax Reform Depreciation Updates

November 8, 2018 | By | No Comments

The Tax Cuts and Jobs Act (TCJA) made some significant changes to depreciation that can help reduce your tax bill!  Under the new law, you will be able to deduct more than last year. Two ways to get deductions: Section 179 Property Section 179 maximum deduction increased from $500,000 to $1 million. The new law […]

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07 Nov

What’s Next: Remaining Opportunity Zone Questions

November 7, 2018 | By | No Comments

November 6th, Delap hosted a webinar covering the details of Opportunity Zones. If you missed the live webinar we’ve shared a link to the recording below. The second set of proposed regulations are promised by the end of the year. Delap is looking to address some lingering questions and will be providing updates as soon […]

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30 Oct

Update: Opportunity Zone Proposed Regulations

October 30, 2018 | By | No Comments

October 29, 2018 — At this point, you may have heard about investing in Opportunity Zones (OZ).  We’re excited to share some highlights about new information recently released. On October 19th, the Department of Treasury published proposed regulations answering many of the questions we had when OZ’s were first introduced in the Tax Cuts and Jobs […]

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