Simply Tax Episode 74: Tax Reform Insights for Financial Institutions
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Guest Gary Genenbacher joins host Damien Martin to reflect on the first tax filing season for financial institutions under the Tax Cuts and Jobs Act (TCJA). Here’s what’s covered:
- Gary’s perspective on applying the provisions of the TCJA @4:10
- Key TCJA changes for financial institutions @6:09
- How financial institutions have reacted to the TCJA changes @10:21
- The most surprising TCJA provisions @11:16
- Areas we need guidance @14:08
- Being off-balance on purpose @16:47
- Planning considerations for financial institutions after tax reform @19:10
- Increased conformity between book and tax @23:14
- The important role tax advisors play @25:54
- Tax simplification @26:42
BIO FOR GUEST
Gary Genenbacher is a partner and member of BKD National Financial Services Group. Gary focuses on providing family-owned businesses with tax solutions and corporations with strategic tax planning, including subchapter S conversions, retirement planning strategies, accounting methods and tax credit opportunities.
ADDITIONAL RESOURCES
- Mentioned in the episode:
- What We Learned from Tax Reform for Individuals presented by Jeff Bodkin, Susan Jones, Derek Smith and Damien Martin (August 8, 2019)
- What We Learned from Tax Reform for Businesses presented by Rick Klahsen, Melissa Pozniak, Jesse Palmer and Damien Martin (August 9, 2019)
- “Simply Tax” Episode 67: An Insider's View: The IRS & Public Accounting with David Kirk
- “Simply Tax” Insight Video: Rental Activities as a Trade or Business
- Learn more about some of the topics discussed in the episode:
- Financial Services Tax Reform Update presented by Gwyn Eastom and Steven Cunningham (December 20, 2018)
- “Simply Tax” Episode 17: Tax Reform for Financial Institutions (March 8, 2018)
- Learn more about tax reform with BKD's Tax Reform Resource Center
GET MORE SIMPLY TAX
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A complete archive of our episodes is available on our website and YouTube playlist.
We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.
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