Author Archives:
Josh Crisp

The construction industry is facing a period of rapid growth. The increase in the number of new projects in residential, commercial, roads, infrastructure and renewable energy has created opportunities for industry companies. The Bureau of Labor & Statistics recently reported that they expect construction to be one of the fastest growing industries with a 4.5% annual growth rate. While this is certainly encouraging news for industry companies including contractors and sub-contractors, it does present an interesting challenge.

The Tax Cuts and Jobs Act of 2017 was touted as one of the most significant changes to the tax code in over thirty years. There was a sharp reduction in the federal income tax rate for businesses, a near doubling of the standard deduction for individual taxpayers and several important changes that impact estate and gift tax planning efforts. While the media focused on the broader changes that affect almost every taxpayer, there were other changes essential changes that impact estate and gift tax planning strategies.

Taxpayers are continually looking for new opportunities to reduce the amount of federal and state income tax they are required to pay each year. The sweeping changes to the tax code resulting from the Tax Cuts and Jobs Act of 2017 (tax reform) have changed the tax planning landscape significantly. While most can expect to pay less in income taxes over prior years, many of the familiar tax incentives (including credits and deductions) have been eliminated or changed to reduce their benefit. These changes have left some wondering if there are additional tax planning opportunities available.

Technology has had an impact on virtually every aspect of life from the checkout counter at the local grocery store, to how new keys are cut at the hardware store to how passengers check in for flights at the airport. The American landscape is littered with changes brought about by technology.

For those in the entertainment industry, the music, films, books, video games or apps they create is the representation of their personal creative efforts – even though they often don’t take a “physical” form. These individuals typically rely on producers and distributors to share their work with the masses in exchange for a deferred “salary” in the form of royalty payments