ASA sets up Tax Reform Task Force

BVWireIssue #184-2
January 17, 2018

The American Society of Appraisers has appointed a Tax Reform Task Force to study the new law’s impact on value and to determine changes to applied procedures as necessary. William H. Frazier (Stout) is the chair of the task force. As recommendations are developed, the ASA’s Business Valuation Committee will communicate them to the valuation profession. At this point, the topics the task force will examine are:

  • C corporation 21% flat tax rate;
  • Deductibility of interest—new limits;
  • One hundred percent expensing of certain capital expenditures;
  • Pass-through income 20% deduction;
  • Patents—elimination of capital gain treatment on sale of “self-created” patent;
  • Net operating losses—carry forward limited to 80% of income; and
  • Like-kind exchanges—repeals application to certain business or investment property.

If you have suggestions for other topics the task force should study, click here for contact information.

Extra: There will be a webinar on February 8: 2018 Tax Cuts and Jobs Act: Impact on Valuations of C Corps and Pass-Through Entities, with Daniel R. Van Vleet (The Griffing Group).

Please let us know if you have any comments about this article or enhancements you would like to see.