With the EU’s GDPR enforcement date looming and many organizations only now beginning to determine their level of exposure or liability under the regulation, use this quick assessment to determine your organization’s data footprint and potential impact
... Read more »Posts Categorized: Baker Tilly Tax Tips
How the Final Tax Cuts and Job Act Will Impact Hedge Funds, Private Equity and Alternative Assets Jan18
The hedge fund, private equity and alternative asset industries will be impacted by a number of tax provisions from the final tax reform bill called the “Tax Cuts and Job Act” that was signed into law by the president on Dec. 22, 2017. Provisions will affect carried interest, general tax rates, compensation, like-kind exchanges and more. This article is intended to provide a high-level summary of some of the key provisions of the act
... Read more »Untangling Tax Reform: The Basics of the New 20 Percent Qualified Business Income Deduction Jan11
The Tax Cuts and Jobs Act (TCJA) was enacted Dec. 22, 2017. Among the many provisions included in the TCJA is new code section 199A, which allows a deduction of 20 percent for certain pass-through income. For this purpose, pass-through businesses include partnerships, S corporations and sole proprietorships. Due to uncertainty as to the types of businesses that may qualify for the deduction, and the many limitations and exceptions, this code section is one of the more complex provisions in the TCJA
... Read more »