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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.

Connect with Gary on LinkedIn

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

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We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.

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