Sidney Kess

April 27, 2018 | New York Law Journal

In his Tax Tips column, Sidney Kess explains that as a result of the Tax Cuts and Jobs Act, many write-offs are now missing from 2018 returns, and he offers a roundup of the deductions that have been deleted - some temporarily and some permanently.

By Sidney Kess

6 minute read

April 20, 2018 | New York Law Journal

The Tax Cuts and Jobs Act of 2017 (P.L. 115-97) is transformative legislation that dramatically changes the tax landscape for individuals and businesses for years to come. It has an impact on the income tax that attorneys will pay and it also affects the work that firms will be asked to do.

By Joe Bublé and Sidney Kess

10 minute read

March 19, 2018 | New York Law Journal

Tax Tips columnist Sidney Kess writes: The Tax Cuts and Jobs Act of 2017 (TCJA) made important changes in the tax rules for alimony. These changes have a ripple effect throughout the tax law, impacting a number of other provisions. Here are the basic rules for alimony and their impact on other tax provisions in light of TCJA.

By Sidney Kess

7 minute read

February 16, 2018 | New York Law Journal

Tax Tips columnist Sidney Kess writes: The Tax Cuts and Jobs Act of 2017 (TCJA) introduced a new write-off for owners of pass-through entities that runs from 2018 through 2025. There is much confusion about this new deduction and some clarification will need IRS guidance. Here is what is clear so far, how it impacts attorneys, and what needs IRS and/or Congress to explain further.

By Sidney Kess

7 minute read

January 12, 2018 | New York Law Journal

Tax Tips columnist Sidney Kess writes: For estates and trusts and their fiduciary returns, some things are clear: tax rates are different and there are many changes to understand. And many rules, such as the 3.8 percent net investment income tax on estates and trusts, have not changed. However, there are other matters that await IRS guidance.

By Sidney Kess

7 minute read

December 27, 2017 | New York Law Journal

Tax Tips columnist Sidney Kess writes: On Dec. 20, 2017, Congress passed a major tax package (H.R. 1) designed to cut taxes on businesses as well as individuals, and to stimulate the economy and create jobs. Review his roundup of the key provisions impacting businesses.

By Sidney Kess

10 minute read

December 20, 2017 | New York Law Journal

Tax Tips columnist Sidney Kess writes: On Dec. 20, 2017, Congress passed a major tax package (H.R. 1) designed to cut taxes on individuals and businesses, and to stimulate the economy and create jobs. The long-term impact on the deficit is unclear; the measure adds to the deficit in the short term but could reduce it in the long term if predictions of economic growth come true.

By Sidney Kess

8 minute read

November 20, 2017 | New York Law Journal

Tax Tips columnists Sidney Kess takes a look at the Tax Cuts and Jobs Act of 2017 and provides roundup of some of the new rules impacting individuals, what old rules would be eliminated, and what old rules would be retained.

By Sidney Kess

8 minute read

October 13, 2017 | New York Law Journal

In his Tax Tips column, Sidney Kess writes: Take the time now to consider some year-end tax planning strategies that you can use for your business and personal taxes.

By Sidney Kess

12 minute read

September 15, 2017 | New York Law Journal

In his Tax Tips column, Sidney Kess discusses what can high-income taxpayers can do to maximize their tax-advantaged giving opportunities in this period of tax uncertainty resulting from Congressional goals of tax reform.

By Sidney Kess

7 minute read