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Tag Archives: tax reform

QBI update: IRS draft contradicts prior guidance on real estate, insurance brokers as SSTBs

December 28, 2018

The IRS has issued a draft form (Publication 535) that directly contradicts proposed regulations provided this past August, specifically lumping real estate agents and brokers as well as insurance agents and brokers with all other “brokerage services” as Specified Service Trade or Business (SSTB). Furthermore, it extends the definition of brokerage services to any income sourced

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Impact of IRS regulations on state credits for charitable contributions

October 19, 2018

By Scott Brawdy, CPA, Tax Manager and SALT Practice Leader Garrett Jerzyk, CPA, Senior Tax Associate Proposed regulations issued by the IRS are putting a halt to states’ plans to offer state-sponsored charitable contribution programs to circumvent the $10,000 state and local tax deduction cap for individuals made in the Tax Cuts and Jobs Act (TCJA). The

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