Publications

The Tax Cuts and Jobs Act (“TCJA”) retained the ability for taxpayers to defer gains on the sale of appreciated real estate through the use of “like-kind” exchanges under IRC section 1031. The TCJA eliminated, however, the availability of like-kind exchanges of personal property. The Bad Starting Jan 1, 2018, […]

The Act made a significant change in the basic applicable exclusion from estate and gift taxes (“applicable exclusion”) available to each individual. The applicable exclusion is now doubled from $5,000,000 to $10,000,000 per person and is indexed for inflation. In 2018, the exclusion is anticipated to be set at approximately […]

Recent tax changes found in the Tax Cuts and Jobs Act (“TCJA”) and Bipartisan Budget Act of 2018 will affect tax-exempt organizations. Those changes are summarized as follows: Increased Standard Deduction for Individuals. The opportunity to deduct charitable contributions is limited by the TCJA. Donors can deduct the greater of […]

Alabama and South Dakota joined the other 48 states by enacting data breach legislation that requires entities (private or public) to notify individuals of security breaches of information involving personally identifiable information. South Dakota On March 21, 2018, South Dakota Governor Dennis Daugaard signed SB 62 into law. While SB […]

In its most recent session, the Iowa Legislature took steps to address the statewide shortage of behavioral health services. It passed two laws intended to broaden access to services, and also authorized two work groups to review how the state’s existing behavioral health resources could be employed more efficiently. Those […]