IRS issues guidance on changes to business expense deductions for meals and entertainment

On October 3, The Internal Revenue Service issued guidance on the business deduction for meals and entertainment following changes in the Tax Cuts and Jobs Act (TCJA).

While the act allows a deduction for expenses incurred during the tax year in carrying on trade or business, in 2017, the deduction of expenses related to entertainment, amusement or recreation was eliminated. However, the act does little to explain the tax treatment of business meals and there has been virtually no guidance from the IRS since the enactment of the TJCA until now. 

Liz Reeder Presents Estate Planning Seminar to Northern Ky. Bar Association

Strauss Troy Attorney Liz Reeder

Strauss Troy attorney Liz Reeder was recently invited to present a seminar to the Estate Planning and Probate Section of the Northern Kentucky Bar Association.  Liz presented on the 2017 Tax Act and its effect on estate plans as well as provided an update on estate planning trends from the most recent Heckerling Institute on …Read More

New Partnership Representative Rules May Increase Audit Activity

IRS Logo

With a new year comes new tax rules that have significant impacts on your operating agreements and LLCs.  If you haven’t updated your operating agreement for some time or if you are entering or exiting an LLC, the Bipartisan Budget Act of 2015 (the “BBA”) has significant impact for the former “tax matter partner” provisions.  These BBA provisions took effect January 1, 2018 and repeal the TEFRA and ELP procedures and applies to all partnerships that file a Form 1065 return.  In implementing these rules, IRS hopes to increase audit activity and make it easier to assess deficiencies for unpaid taxes to your partnerships.  It is critical to understand the new rules in order to better protect yourself and your partnership in future audit.

Strauss Troy’s Award-Winning Attorneys

Our nationally recognized attorneys work together as a team to be your legal partner, whether you need an attorney to handle a personal or a corporate matter. Strauss Troy has been recognized by U.S. News – Best Lawyers as a Best Law Firm in the following practice areas: Commercial Litigation Mass Tort/Class Actions – Plaintiffs Real Estate …Read More

Ten Strauss Troy Attorneys Recognized As
2016 Best Lawyers In America®

Ten Strauss Troy attorneys have been honored as 2015 Best Lawyers by Best Lawyers®.

Strauss Troy Adds Two Attorneys Houston & Kinder To Tax | Estate Planning Practice Group

Strauss Troy Attorney Jan Houston

Strauss Troy, one of Greater Cincinnati and Northern Kentucky’s leading law firms, announced that Jan Houston and Kenneth Kinder II have joined the firm. “We continue to add new talent and expertise in key areas,” said Strauss Troy President Marshall Dosker. “The experience that Jan and Ken bring to the firm will further strengthen our ability to address all of our client’s legal needs in the areas of tax planning, compliance, probate and estate planning. We’re pleased to welcome them to Strauss Troy.”