Reminder: Q4 2017 Tax Changes

If you have not already done your taxes you may want to review this notice from Genova Burns LLC outlining the most important tax changes that occurred in the final quarter of 2017.

​The changes discussed pertain to the following topics:

• Regulations Issued for Electing Out of New Partnership Audit Rules 
• Safe Harbor Methods for Non-Business Casualty Losses
• Deductions Denied for Home Rented to Daughter
• IRS Confirms $15,000.00 Annual Gift Tax Exclusions for 2018
• IRS Notice States that Carried Interest Rules Cannot be Avoided by Using S Corps 
• New Jersey Division of Taxation Provides Guidance Regarding New Jersey Estate Tax