New Kentucky Tax Law Brings Significant Changes
 
The Kentucky legislature has recently enacted new tax provisions. Understanding the implications of the new law will be crucial for both individual and business taxpayers. To read the full article on the law changes, please click here
 
For additional information and answers to your questions, please contact a member of your client service team or John Rittichier, CPA at jrittichier@hsccpa.com or 800.880.7800
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Uncertainties in Individual Income Tax and Estate Planning After TCJA
   
The federal Tax Cuts and Jobs Act (TCJA) has altered the landscape for investing, itemized deductions, and estate planning for individual taxpayers. Click here for more information
 
For additional information and answers to your questions, please contact a member of your client service team or Sally Campbell, CPA at scampbell@hsccpa.com or 800.880.7800
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Reasonable Compensation Rules Not Intended to Apply to Partnerships 
 

The new Qualified Business Income Deduction (Section 199A Deduction) allows members of select flow-through businesses a 20% deduction against qualified business income.  Shareholder/partner wages/guaranteed payments are not included in the qualified business income calculation. The IRS has recently stated that the "reasonable compensation" requirement for S corporations will not apply to partnerships, which could potentially lead to planning opportunities. Click here to read the new rules in their entirety.  
 

For additional information and answers to your questions, please contact a member of your client service team or Mike Vogel, CPA at mvogel@hsccpa.com or 800.880.7800

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Broad New Limitation on Business Interest Deductions
  

Recently enacted code section163(j) imposes a new limitation on the deductibility of business interest expense for taxpayers with more than $25 million in gross receipts. Interest expense in excess of 30% of adjusted taxable income could be limited. For more information on this new deduction please, click here
 

For additional information and answers to your questions, please contact a member of your client service team or Kathy Ettensohn, CPA at kettensohn@hsccpa.com or 800.880 7800

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ABOUT
HARDING, SHYMANSKI & COMPANY, P.S.C.
  
Harding, Shymanski & Company, P.S.C. is a public accounting firm with offices in Evansville, Indiana, and Louisville, Kentucky. We are one of the largest accounting firms in Southern Indiana and Kentucky, providing experienced professionals who look beyond the numbers to the heart of complex issues.

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SEE WHAT OUR CLIENTS ARE SAYING...
 
L &D Mail Masters has grown from a small, home based business to a full-service direct marketing provider with over 135 full-time staff members and 188,000 square feet of production and storage space. Through that period of growth, it became apparent that we needed more than just an accounting firm who prepared our taxes...we needed advice.

We have found Harding, Shymanski and Company to be extremely proactive and there to give us advice, even in advance. They are more than just an accounting firm...they are our Trusted Advisor.


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Disclaimer: The information contained in this email is for general guidance on matters of interest only. The publication does not, and is not intended to provide legal, tax or accounting advice.

Harding, Shymanski & Company, P.S.C.
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