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New IRS Audit Rules Come to California Partnerships

New IRS Audit Rules Come to California Partnerships

Earlier this summer, the IRS finalized its rules on partnership audits (which became effective January 1, 2018), and on September 23rd, Governor Brown signed SB 274 conforming California state law with the federal rules. As a consequence, many existing partnerships...
Bonus Depreciation and the New Section 1031

Bonus Depreciation and the New Section 1031

It is no secret that the “Tax Cuts and Jobs Act,” which went into effect January 1st of this year, is the largest tax reform bill in decades. Among the Act’s extensive changes are new rules under Code Section 1031: personal property assets may no longer be exchanged...