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27
Jun

Final Regulations Issued on Itemized Deductions

June 27, 2019

By: Dario Arezzo

One of the most talked about reforms enacted in the Tax Cuts and Jobs Act (TCJA) was the limitation on the ability for taxpayers to deduct state and local taxes in excess of $10,000. Dario Arezzo, Senior Tax Consultant, gives readers insight into how to interpret these regulations.

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Posted In: Tax Talks

Tags: regulations, tax planning, tax reform, taxes
30
May

Farm Rental Agreements under 199A

May 30, 2019

By: Dario Arezzo

Now that the dust has settled on the 2018 tax season (for the most part!), it is time to continue fine-tuning tax strategies for Northeast agricultural producers. One of the easiest ways to maximize the 199A deduction is to ensure the farmland being utilized in the operation qualifies for the deduction.

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Posted In: Tax Talks

Tags: estate management, estate planning, lease, regulations, tax planning, taxes
30
Apr

New York State Budget Revives Gifting "Claw back"

April 30, 2019

By: Dario Arezzo

Just a few weeks ago, Governor Cuomo signed into law New York State’s latest budget. The big takeaway for New York State estate planning is the retroactive reinstatement of the “three-year claw back." Dario Arezzo, Senior Tax Consultant, gives readers the details of this revival.

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Posted In: Tax Talks

Tags: expenses, regulations, tax planning, tax reform, taxes
19
Mar

South Dakota Paves the Way for Sales Tax

March 19, 2019

By: Michele Murray

If you are a sales tax enthusiast, you may be tired of hearing people say the name Wayfair! If you are not such an enthusiast, this is probably the first time you have heard the name. Michele Murray, Farm Credit East Financial Services Leader, explains the general rules of this post-Wayfair environment in our Northeast states.

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Posted In: Tax Talks

Tags: ag outlook, business planning, cost control, economy, tax planning, tax reform, taxes