• 2018.02.13 –  Federal Tax Reform: Certain Provisions Affecting Pass-through Entities and Their Owners  – The tax reform bill passed at the end of 2017 includes numerous provisions affecting pass-through entities and their owners. These provisions are complex and create both strategic opportunities and pitfalls for the unwary.  This Bottom Line videocast discusses: 1) the 20% deduction for qualified business income; and 2) the limitation on excess business losses.

• 2018.02.12 – The Interest Deduction Limitation under Section 163(j) –  The Internal Revenue Code has historically limited the ability of corporations to deduct certain interest paid to related parties. The recent Tax Cuts and Jobs Act modified this limitation and expanded its application, such that the current limitation applies to all taxpayers and to all business interest, whether or not paid to related parties. This Bottom Line videocast discusses: 1) differences between the historic and current versions of this limitation on interest expense; 2) application of the current limitation on interest expense; and 3) exceptions to the current limitation on interest expense.

• 2018.02.09 – Global Intangible Low-Taxed Income (GILTI) –  The recent Tax Cuts and Jobs Act adopted a provision subjecting certain US shareholders of controlled foreign corporations (CFCs) to tax on their global intangible low-taxed income (GILTI). GILTI is effectively a new worldwide minimum tax on the earnings of a US shareholder’s CFCs.  This Bottom Line videocast discusses:  1) what is GILTI?; 2) Deductions and credits taken into account in determining the US tax on GILTI; and 3) How GILTI is calculated, including a simple example.

• 2018.02.08 – Tax Reform: Base Erosion and Anti-Abuse Tax (BEAT) – The new base erosion and anti-abuse tax (BEAT) generally imposes a 10% minimum tax (5% in 2018) on a taxpayer’s income determined without regard to tax deductions arising from base erosion payments (including the portion of a taxpayer’s NOL treated as related to base erosion payments) which generally cannot be reduced by credits other than, until 2025, the R&D credit and 80% of certain other credits. This Bottom Line videocast discusses: 1) a brief overview of BEAT and 2) a simplified example of the BEAT calculation.

• 2018.02.07 – Introduction to International Tax Provisions – The new Tax Act made significant international tax changes that affect both US and foreign-parented multinational corporations.  This Bottom Line videocast provides an overview of the provisions, including: 1) the impact of the reduced corporate tax rate; 2) the shift to a hybrid territorial/worldwide system; and 3) base erosion provisions, including BEAT and hybrid transactions.