The CBD Blog

Find peer advice, partner insights, and industry updates – all here in the CBD blog, ‘At The Helm’! With contributions from our entire team, we blog about the things that interest you.

How the New Tax Law Affects Rental Real Estate Owners

There’s more to the Tax Cuts and Jobs Act for owners of rental real estate than just lower ordinary income tax rates. Here’s an overview of some new or modified provisions that will generally provide favorable tax outcomes for rental property owners along with an unfavorable change that could hit owners of properties that generate tax losses.

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How the New Limit on SALT Deductions Affects Homeowners

There’s been a lot of controversy about the recent tax law change that limits the federal deductions for state and local taxes (SALT). This limitation will have an adverse effect on many homeowners, especially residents of jurisdictions with high property taxes and people who own expensive homes or more than one home. Here are the details, along with important information if you’re thinking about selling your house.

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Close-Up on Mortgage Interest Deduction Rules

Unfortunately, the new tax law places new limits on home mortgage interest deductions for the 2018 through 2025 tax years. But the changes only affect homeowners with larger first mortgages and those with home equity debt. Are you in danger of losing some of your home mortgage interest deduction under the new law? Read this article to find the answer.

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New Law Gives Eligible Pass-Through Businesses a Special Tax Break

The new tax law introduces a special deduction for eligible pass-through businesses. The deduction is generally equal to 20% of “qualified business income.” It’s designed to help achieve parity between the reduced corporate income tax rate and the tax rates for business income that passes through to individual owners of sole proprietorships, partnerships, limited liability companies (LLCs) and S corporations. Here are the details.

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Important Tax Figures for 2018

Every year, the dollar amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some important tax figures for 2018, compared with 2017, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and more.

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AMT Calculations: It’s Showtime

Many people are uncertain how the more taxpayer friendly alternative minimum tax (AMT) provisions of the new tax law will affect them. Here are some examples that showcase how AMT calculations will differ for 2018 through 2025. (Spoiler alert: Don’t assume you won’t be hit by the AMT under the new rules.)

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New Law Eases the Individual Alternative Minimum Tax

The Tax Cuts and Jobs Act eliminates the alternative minimum tax (AMT) for corporations, but retains it for individuals. However, there’s some good news: Fewer taxpayers will be hit with the AMT, and those who are affected will likely see their AMT liabilities decrease for the 2018 through 2025 tax years under the new law. Here’s how the changes might affect you.

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