In order to encourage investment in distressed communities, Congress included in the Tax Cuts and Jobs Act (TCJA) significant tax benefits for investments in so-called Qualified Opportunity Zones (QOZs). The new law allows eligible taxpayers to defer taxation of gain that is reinvested in a QOZ.
No matter how much the overall economy is thriving, some businesses will struggle and eventually need to liquidate their assets. Getting the most out of liquidation requires guidance from financial experts who can help owners make informed decisions.
For the 2019 tax year, pass-through entities doing business in Oklahoma have until June 27, 2019, to choose to pay taxes at the entity level, instead of the member level — a choice that allows state income tax to be fully deductible on federal tax returns.
On May 2, 2019, the CFPB invited public comment on possible amendments to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The new HMDA rules would increase the HMDA reporting threshold for mortgages, which means that smaller lenders would not need to c