New Treasury Department rules clarify ‘specified service trade or business’
In some ways the sweeping tax reform law that was passed at the end of 2017 left as many questions unanswered as it answered. Just last week, the Treasury Department issued rules that seek to clarify some issues related to qualified business income. The Tax Cuts and Jobs Act created a new provision, Section 199A, which […]
IRS withdraws proposed rules impacting family businesses

Members of family-owned businesses avoided potentially costly estate planning rules now that the IRS has withdrawn controversial proposed regulations. The IRS proposed late in 2016 a new set of regulations governing family-owned entities under Section 2704. Conducting a formal business valuation of a closely held family entity is often a necessary part of estate planning. […]