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There are 13 item(s) tagged with the keyword "Tax".

Displaying: 1 - 10 of 13

1. Wait for IRS Guidance Before Making Decisions on Payroll Tax Deferral

Based on discussions with ACEC's outside tax advisor on the presidential memorandum on payroll tax deferral, the key message right now is to wait for IRS guidance before making any decisions. 

Tags: Tax
2. Update on IRS Rules for Meals and Entertainment

Beginning in 2018, no deduction was allowed for entertaining clients, employees or referral sources. Most business meals remain 50 percent deductible. One often overlooked exception is office-wide parties or picnics for employees, which are 100 percent deductible. Confused? Don't be. We asked Michael Baker of Moses Dent to break down the rules.

Tags: Tax, Guest Post
3. Treasury Questions Section 179D Payments to Governmental Clients

The Treasury letter expresses concern that designers are being asked to make payments to their governmental clients, and states that this practice is inconsistent with the policy goals of Section 179D.

Tags: Tax
4. Congress Includes Tax Policy in Budget Deal; Bill Awaits President's Signature

Congress extended expired tax provisions as part of a year-end budget deal in December, including the Section 179D energy-efficient commercial buildings tax deduction and the Section 45 production tax credit for renewable resources. Most were reinstated retroactively for 2018 and 2019, and prospectively for 2020.

Tags: Tax
5. Ways and Means Committee Approves SALT Cap Relief

The House Ways and Means Committee passed legislation to provide relief from the $10,000 cap on the deductibility of state and local taxes (SALT) that was established in the 2017 Tax Cuts and Jobs Act.

Tags: Tax
6. ACEC Endorses Tax Extenders in Comments to Senate Taskforce

ACEC submitted comments this week to a taskforce of the Senate Finance Committee endorsing multi-year extension of the Section 179D energy-efficient commercial buildings tax deduction and the Section 45 production tax credit for renewable resources.

Tags: Tax
7. House Committee Moves Forward on ACEC-Backed Tax Extenders

The House Ways and Means Committee took a key step today toward extending a collection of expired and soon-to-expire tax provisions, approving the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (H.R. 3301), which reinstates the tax extenders for 2018 through 2020.

Tags: Tax
8. American Bar Association Panel Highlights ACEC Tax Reform Advocacy Efforts

During a recent American Bar Association panel discussion on the Section 199A 20 percent passthrough tax deduction in the 2017 Tax Reform Law, the presenter asked rhetorically why engineering and architecture are eligible for the deduction while consulting services are not, and then offered the likely answer.

Tags: Tax
9. Legislation Introduced to Make Passthrough Deduction Permanent

Senator Steve Daines (R-MT) has introduced the Senate version of the Main Street Tax Certainty Act, which would make the Section 199A 20 percent passthrough tax deduction permanent.  Representatives Jason Smith (R-MO) and Henry Cuellar (D-TX) introduced identical legislation in the House.

Tags: Tax
10. Ways and Means Committee Approves Retirement Savings, IRS Reform Bills

On Tuesday, the House Ways and Means Committee unanimously approved the Setting Every Community Up for Retirement Enhancement Act (SECURE Act, HR 1994), which is designed to address the retirement savings gap.

Tags: Tax

Displaying: 1 - 10 of 13

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