How the Final Tax Cuts and Job Act Will Impact Hedge Funds, Private Equity and Alternative Assets Jan18

Posted by & filed under Baker Tilly Tax Tips, Hedge Fund Performance.

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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

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Untangling Tax Reform: The Basics of the New 20 Percent Qualified Business Income Deduction Jan11

Posted by & filed under Baker Tilly Tax Tips.

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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

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2017 Financial Reporting Impacts From Tax Reform Dec21

Posted by & filed under Baker Tilly Tax Tips.

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Tax reform may have a significant impact on your 2017 financial statements. ASC 740 requires that companies recognize the full financial effect of an enacted rate change on their deferred tax items in the interim period that the rates are enacted. For U.S. federal tax purposes, the enactment date is most often the date the President signs the bill into law. The cumulative change in deferred expense or benefit must be recognized in income from continuing operations in the interim period during which the law is enacted. This could result in large adjustments to net earnings after taxes

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How the Tax Cuts and Job Act Will Impact Hedge Funds, Private Equity and Alternative Assets Nov10

Posted by & filed under Baker Tilly Tax Tips, Hedge Fund Assets.

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The hedge fund, private equity and alternative asset industries could be impacted by a number of tax provisions proposed in the House Ways and Means Committee’s comprehensive tax reform bill called the “Tax Cuts and Job Act” released on Nov. 2, 2017. The act as it stands currently, however, does not include any changes to the taxation of financial products

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