In total, we published 41 blog posts in 2018. While we received positive feedback throughout the year, a few posts were particularly popular with our readers.
Here are the top five posts from the Center for Private Company Excellence blog in 2018:
1. Confused About the New Rules for Tax Deductions on Meals and Entertainment? You're Not Alone
Is a meal with an employee or a customer considered “entertainment” or a “business meal?” Should it make a difference? Provisions within the Tax Cuts and Jobs Act enacted in December have raised an issue for which a clear answer to this question does not currently exist, and it could have a material economic impact on businesses.
2. C Corporation vs. Pass-Through in a Post Tax Cuts and Jobs Act World
The Tax Cuts and Jobs Act (“TCJA”) contains material changes to the U.S. tax system, many of which significantly impact the level of Federal income tax on business profits. Two changes which have received a lot of attention involve the new 20 percent deduction for qualified business income from eligible pass-through entities (e.g., S Corporations and partnerships) and the flat 21 percent rate on C Corporation income.
3. Phantom Stock and Your Family Business
Running a family business frequently takes more than just family. It is not uncommon for executives with outside experience or home-grown talent to come from outside the family lineage. As a result, family business owners are often faced with a decision as to how to compensate these key executives. This is where the use of a phantom stock plan may be of some assistance.
4. Updates on 6 Business-Related Provisions of the Tax Cuts and Jobs Act
The IRS has begun to issue guidance on various components of the Tax Cuts and Jobs Act which may have an important impact on your 2018 year-end tax planning process and beyond. Here are updates on six key areas that affect many businesses.
5. 5 Hidden Benefits of Using an ESOP as an Exit Strategy
When privately held companies and their owners discuss ESOPs as an exit strategy, the major theme is usually the tax advantages. For companies that are C corporations before the ESOP, there are significant opportunities to defer the gain on the sale of shares by the owner. For S corporations, the company pays no federal income tax on the ESOP’s share of the net income after the ESOP is in place. While these are big advantages, there are other significant benefits to consider.
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