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Monthly Archives: February 2019

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The New Opportunity Zone Tax Incentive

By Ronald Cutler, P.A. |

The new Opportunity Zone tax incentive was created by last year’s Tax Cuts and Jobs Act and was designed to help drive investment in distressed communities across the nation by providing tax benefits to taxpayers who invest in businesses located in those areas. In June, 8,761 communities were designated as qualified Opportunity Zones, a… Read More »

Taxes

Reduced Withholding Rate For Small Businesses and Individual Taxpayers

By Ronald Cutler, P.A. |

As a result of changes made by the Tax Cuts and Jobs Act (TCJA), the backup withholding tax rate for individual taxpayers and small businesses was reduced from 28 to 24 percent. Backup withholding applies in a number of situations, including when a taxpayer doesn’t supply his or her taxpayer identification number (TIN) to… Read More »

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The Tax Repercussions of Like-Kind Exchanges

By Ronald Cutler, P.A. |

One of the many changes made by last year’s Tax Cuts and Jobs Act (TCJA) involves the treatment of like-kind exchanges, which are now limited to transactions related to real property. To find out how these changes could affect your own responsibilities come tax season, please contact a member of our dedicated tax return… Read More »