The One Big Beautiful Bill Act (OBBBA) will have widespread impact for almost every taxpayer. Visit our OBBBA Resource Center regularly for continuing updates and guidance on the tax impact of this legislation to you and your industry.
Learn MoreIn its latest risk alert released on February 26, 2021, the Division of Examinations (formerly known as the Office of Compliance Inspections and Examinations) offers its observations regarding digital asset securities after examining investment advisers, broker-dealers and transfer agents. One of...
Read MorePresident Biden signed into law the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic. The 628-page American Rescue Plan Act (ARPA) includes $1.9 trillion in funding for individuals, businesses, state and local governments, as well as a multitude of federal...
Read MoreRegulated Investment Companies (RICs) regularly invest in entities classified as partnerships for U.S. tax purposes. It is important for RIC managers to understand the different types of partnership investments, most notably whether or not a publicly traded partnership (PTP) you may be investing in...
Read MoreIt’s hard to believe March 13 marks the one year anniversary of when the U.S. declared a national emergency as a result of COVID-19. Overnight, many employers and individuals were forced to adapt to remote working environments, school closings and remote learning — while some also dealt with illness...
Read MoreAs registered funds show increased interest in the digital asset market — whether they are looking to create a new ETF product or simply to gain more exposure to this asset class — a foundational understanding of this evolving space will be critical before moving forward with any type of...
Read MoreFor those of you who’ve been through multiple crypto market cycles, extended bear markets can seem to take years off your life. But the relatively recent excitement surrounding bitcoin and other cryptoassets (and correlated price appreciation) has been a worthy vindication of your tireless efforts....
Read MoreThe first two parts of this series on advanced 529 plan strategies focused on shorter term strategies to maximize the tax efficiency of these accounts. The third strategy is focused on long-term tax efficiency by passing down 529 plan assets to your heirs. The beauty of 529 plans is that they...
Read MoreIf we are now truly able to see the light at the end of the COVID-19 tunnel, what will the M&A landscape resemble when we emerge from our pandemic bunkers? It’s likely that fundamentals for a healthy M&A market will not change — willing sellers, buyers with capital to invest and an intersection...
Read MoreMany companies have restructured or modified their outstanding debt arrangements during the COVID-19 pandemic — some for the first time ever. In recent months, the Financial Accounting Standards Board (FASB) has received many questions about how to apply the accounting guidance on debt...
Read MoreThis blog was updated 4/7/21 First introduced under the CARES Act in March 2020, the Employee Retention Credit (ERC) is a fully refundable tax credit that benefits eligible employers who have continued to pay employees while experiencing COVID-19 economic or operational difficulties. The credit...
Read MoreAs we continue to evaluate real estate tax strategies stemming from the Tax Cuts and Jobs Act, CARES Act and current economic conditions, it is important for real estate entities and investors to take a second look at the provision on business interest expense limitations, under Internal Revenue...
Read MoreThe IRS has released final Treasury Regulations under IRC Section 1061. The 2021 final regulations supplement the legislation enacted under the Tax Cuts & Jobs Act (TCJA) of 2017 and revise the proposed carried interest regulations issued in July 2020. The final regulations are generally less...
Read MoreIn Part 1 of this series on advanced 529 plan strategies, we discussed creating a state tax deduction for private elementary and secondary school tuition under the new tax law for 2018. This change in the tax code is also the driving force behind strategy number two. To recap, in 2017 and prior...
Read MoreWith the COVID-19 pandemic lingering, Ohio continues to find ways to offer relief to businesses throughout the state. But with 2020 now behind us, those same businesses must consider how relief efforts from this past year could impact their tax situation. In addition, individual taxpayers are...
Read MoreThe evolution of the financial system in the United States — as well as the growing ubiquity of financial derivatives and hedging strategies — has created the need for a federal tax code that is likewise able to evolve. One such evolution found in the Taxpayer Relief Act of 1997 is the constructive...
Read MoreThis blog was updated 12/9/21 Over the past few years there have been impactful changes to the rules surrounding the deductibility of meal and entertainment expenses, starting with the Tax Cuts and Jobs Act (TCJA) of 2017 and continuing with the Consolidated Appropriations Act, 2021. Namely,...
Read MoreCOVID-19 has changed risk considerations and the way audit planning is conducted. But many smaller businesses issue reviewed, not audited, financial statements. If you are one of those companies, below are some changes you might expect as your accountants conduct year-end review...
Read MoreDespite hopes that COVID-19 would be behind us as the calendar turned to a new year, Qualified Opportunity Zone (QOZ) participants, like many others, are still grappling with the pandemic’s effects. In response, the U.S. Treasury released Notice 2021-10 on January 19, providing much needed relief by...
Read MoreThe pace and intricacies of regulatory change in the investment industry are, at times, nothing short of overwhelming. Yet, organizations in this space need to have a clear understanding of evolving regulations, their timing and overall impact. To help you stay up to date, below is Cohen & Co’s...
Read MoreNow that the holiday season is behind us, it’s time to make some progress on those New Year’s resolutions to improve your control over your personal finances. This article is the first in a three part series focused on saving for college through 529 plans. Most are familiar with these tax-favored...
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