Menu

How Does Tax Reform Impact You?

The Trump Administration passed an intricate and complex tax reform bill just before the close of 2017, but what will this mean as we move into 2018?

REGISTER NOW: Tax Reform for the Architecture Industry
5/4/2018

Excess Business Losses: How Will This Affect You?
4/17/2018

Related Examples: 

Taxpayer

Results Under TCJA (Assuming Same Facts in 2018)

Files a 2017 Form 1040, married filing joint status, shows taxable income as -$750,000 which is solely comprised of:

  • Dividend income of $1 million
  • Net business losses (schedule E and C combined) of $1.75 million dollars

Reports $500,000 of taxable income on their 2018 form 1040 and will have an excess business loss in the current tax year of $1.25 million which is treated as an NOL in the subsequent tax year.

(Ordering with Passive Activity Loss Limitation)

Files a 2017 Form 1040, married filing joint status, shows taxable income as -$750,000 which is solely comprised of:

  • Dividend income of $1 million
  • Net Passive Activity Losses of $500,000
  • Net business losses (schedule E and C combined) of $1.75 million dollars

Reports $500,000 of taxable income on their 2018 form 1040 and will have a passive loss carryforward of $500,000 and an excess business loss in the current tax year of $1.25 million which is treated as an NOL in the subsequent tax year.

(Ordering with Disposition of Passive Activity and Free Up of Suspended Losses)

Files a 2017 Form 1040, married filing joint status, shows taxable income as -$1,250,000 which is solely comprised of:

  • Dividend income of $1 million
  • Freed up suspended Passive Activity Losses due disposition of the activity of $500,000
  • Net business losses (schedule E and C combined) of $1.75 million dollars

Reports $500,000 of taxable income on their 2018 form 1040 and as a result of ordering rules will have an excess business loss in the current tax year of $1.75 million which is treated as an NOL in the subsequent tax year.



Pre-April 17 Tax Pointers: The Quirks And Questions
4/12/2018

A 1031 Post-Tax Reform Update
4/11/2018

The Modification of the Net Operating Loss Deduction: What Does This Mean To You?
4/9/2018

Q&A with Anchin’s Marc Wieder: Tax Reform’s CRE Implications
4/2/2018

New Tax Law May Encourage Home Rentals
3/25/2018

Beware the “Kiddie” Tax
3/23/2018

Expansion of Tax Basis Limitation Rules
3/19/2018

New Tax Law Provides Potential Deferral Opportunity for Equity Compensation Granted by Privately Held Companies
3/9/2018

Repeal of Partnership Technical Termination Rules – 2017 Tax Cuts and Jobs Act
3/8/2018

Webinar Recording: A Wake Up Call - Some of the Eye-Opening and Under-Publicized Impacts of the TCJA
02/27/2018

Tax Cuts and Jobs Act Impacts 529 Plans
2/23/2018

Individual Tax Rates, Brackets and AMT under the 2017 Tax Reform Act
2/21/2018

Hellenic Professionals Host US Tax Reform Panel Discussion
2/17/2018

Individual Income Tax Deductions under the 2017 Tax Reform Act
2/16/2018

Tax Cuts and Jobs Act Substantially Limits Meals and Entertainment Deduction
2/14/2018

Webinar Recording: Tax Reform for the Architecture, Engineering and Construction Industries
2/5/2018

Tax Cuts and Jobs Act Will Greatly Impact Consumer Product Companies
2/1/2018

How New Tax Law Will Impact PR Firms
1/31/2018

Tax Cuts and Jobs Act Will Greatly Impact Food & Beverage Companies
1/22/2018

Tax Cuts and Jobs Act: Key provisions affecting Hedge Funds, Private Equity Funds and Other Investment Funds or Fund Vehicles
1/17/2018

11 New Tax Deductions and Reductions Under the New Tax Law
1/17/2018

Webinar Recording: Tax Reform Discussion - How will the Bill Affect You? Get the Answers; Not Just the Facts
1/12/2018

Tax Cuts and Jobs Act: Key provisions affecting estate planning
1/8/2018

Tax Cuts and Jobs Act Offers Favorable Tax Breaks for Real Estate Owners
1/3/2018

The Tax Cuts and Jobs Act Overrides the Tax Court Decision in Grecian Magnesite Mining While the IRS Seeks to Appeal the Same Decision
12/28/2017

Tax Bill Impacts Service Firms
12/28/2017

Tax Cuts and Jobs Act Offers Favorable Tax Breaks for Businesses
12/28/2017

The Tax Reform: NY CRE Experts Weigh In
12/27/2017

The Tax Cuts and Jobs Act Doesn’t Cut the R&D Tax Credit
12/27/2017

New Tax Law Brings Big Changes for Individual Taxpayers
12/26/2017

Tax Bill Impacts A/E/C Industries
12/22/2017

Congress passes biggest tax bill since 1986
12/21/2017

Tax Bill Released
12/18/2017

Tax Plan Moves Forward
12/14/2017

How the Senate Tax Bill Could Cost You
12/11/2017

Senate Passes Tax Bill
12/5/2017

Tax Reform Advances
11/20/2017

Tax Reform Proposals Affect Partnerships and S Corps
11/16/2017

Compare and Contrast the House and Senate Tax Bills
11/14/2017

Senate GOP Releases Tax Reform Plan
11/14/2017

Tax Proposal Update
11/13/2017

More Thoughts on Tax Reform
11/9/2017

Anchin Insights on Tax Reform
11/7/2017

House Proposal Would Change Long Term Contract Method
11/3/2017

Republicans Finally Release Tax Reform
11/2/2017

Year-End Tax Planning for Businesses: Looming Tax Reform Creates Planning Challenges
10/30/2017

Federal Tax Proposal Released
9/28/2017

Privacy PolicyTerms and ConditionsContactSite Map   Anchin Live © 2018 All Rights Reserved.