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IRS Provides Simplified Accounting Rules for Small Businesses

September 8, 2020

New proposed regulations explain how small businesses can use the simplified accounting rules enacted by the TCJA. The 2017 law simplifies the application of the method of accounting rules for businesses (other than tax shelters) with average annual gross receipts... Read More

IRS Alert: Guidance on Business Interest Expense Limit

September 8, 2020

After the original proposed regulations were greeted with 120 comments from practitioners, the IRS has now issued final regulations on the Sec. 163(j) limit on the business interest deduction. The regulations provide guidance to taxpayers on: how to calculate the... Read More


Executive Order on Employee Payroll Deferral May Be Optional for Employers

August 25, 2020

Updated 09/04/2020 On August 8, President Trump signed a memorandum ordering Treasury Secretary Steven Mnuchin to defer the employee’s portion of payroll tax withholding from September 1, 2020 until December 31, 2020. The deferral is for the employee’s 6.2% portion... Read More

Untangling the Technical: Summer of 2020 Tax Topics

August 17, 2020

Although 2020 has proven to be an abnormal year, our tax experts want to remind individuals about some important tax and estate planning topics. Adelle Starr interviews Terri Lawson and LeighAnn Costley, both Tax Partners at Frazier & Deeter. In... Read More

Serving the Cannabis Industry: How Far Does IRS 280E Extend?

August 17, 2020

As cannabis has been legalized in state after state the industry has attracted entrepreneurs, becoming a rapid-growth industry with unique challenges. This situation has set the stage for an interesting debate among companies that typically serve clients in the consumer... Read More

Loan Out Corporations: What are they and how do entertainment professionals use them?

August 13, 2020

By: Eddie Bradford, Jr., CPA, CGMA The U.S. tax landscape is constantly changing and many entertainment professionals are trying to find creative ways to legally minimize their tax liability. While the average taxpayer has very modest unreimbursed business expenses, entertainers... Read More

New Regulations for Net Operating Losses (NOLs) Help Consolidated Groups

August 7, 2020

New proposed and temporary regulations issued by the IRS explain the computation of net operating losses (NOLs) and give more flexibility to consolidated groups in determining the treatment of NOLs. The new temporary regulations make it possible for consolidated groups... Read More

Audits Will Be Required for Georgia Entertainment Industry Tax Credit

August 6, 2020

Georgia’s very popular film and TV tax credit has been modified in response to an audit that revealed inconsistent procedures in Georgia Department of Revenue (DOR) audits of tax credits. The new bill, which was signed into law on Tuesday... Read More

Final Regulations Address RIC Shareholders, Suspended Losses

July 29, 2020

The IRS has resolved some of the issues left open under proposed passthrough deduction regulations issued last year. Final regulations under Sec. 199A provide guidance on the treatment of previously suspended losses included in qualified business income (QBI) and on... Read More

Apple’s EU Court Decision Illustrates the Importance of Transfer Pricing

July 21, 2020

Transfer Pricing is in the spotlight again this week with the news of a win for Apple and the Irish Government in the State Aid case brought by the European Commission. With billions of Euros at stake, it is no... Read More

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