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09 Aug

Four States File Lawsuit to Nullify New Limit on SALT Deduction

Four States File Lawsuit to Nullify New Limit on SALT Deduction | Spire Group, PC As part of the Tax Cuts and Jobs Act (the Act), the limitation imposed on the state and local tax (SALT) deduction has wreaked havoc in many states. In fact, four states – Connecticut, New Jersey, New York and Maryland […]

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12 Apr

Tax Reform: How to Navigate Your Path to Depreciation Deductions

Depreciation Deductions and Used Property | Spire Group, PC Used Property Qualifies Under New Tax Rule Overview A taxpayer-friendly provision included in the freshly passed tax reform package allows bonus depreciation to expand to 100 percent for qualified property placed into service after Sept. 27, 2017 and before Jan. 1, 2023. Also of note: Bonus […]

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03 Apr

Estate and Gift Tax Rules Have Changed—Here’s What You Should Know

Estate and Gift Tax | Spire Group, PC The sweeping reform Congress pushed through to the federal tax law began taking effect mostly in 2018. Among the many significant changes made were changes to the estate and gift tax law. The crux of the change is that the estate and gift tax lifetime “exemption” more […]

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21 Feb

Tax Reform and Its Impact on Alimony

Alimony Tax Treatment | Spire Group, PC We’re not here to tell you that alimony payments are a thing of the past; they’re very much alive. However, the tax treatment of alimony for the payer and the recipient is changing as a result of the Tax Cuts and Jobs Act of 2017. Owing to tax reform, […]

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