With the continuous upgrading of industrial technology and information technology, consumers can deeply participate in the whole life cycle of products and realize customized production. These unprecedented changes have brought consumers and manufacturers closer together, resulting in the...

Since ChatGPT was released to the public in late 2022, it and other language models have rapidly gained recognition for their ability to respond to queries with natural language text. This non-technical and unsponsored article tests the usefulness of three language models, ChatGPT, Bing Chat,...

The tax reform and simplification law known as the Tax Cuts and Jobs Act enacted the section 199A passthrough business income deduction, which generally provides a 20 percent deduction for some types of income from 2018 through 2025. Owners of sole proprietorships, partnerships, S corporations,...

Two tax rules apply to a finite set of “collectibles” as defined in the tax law. Net long-term gain on the sale of a ‘collectible’ capital asset is taxed at 28%, instead of the usual 20% tax rate. In addition, Individual Retirement Accounts (IRAs) and self-directed retirement plans are...

Pub. L. No. 115-97, the law formerly known as the Tax Cuts and Jobs Act of 2017 (TCJA), added new section 1061 to require some carried interests to have a capital gain holding period of over three years (rather than the usual one year) to qualify for long-term capital gain tax rates. Treasury...

The Tax Cuts and Jobs Act, the 2017 tax reform and simplification law, reduced individual and corporate federal income tax rates. President Biden has proposed to increase those rates. Corporate tax increases have been proposed to pay for a $2 trillion infrastructure plan, while individual tax...

The Tax Cuts and Jobs Act of 2017 (P.L. 115-97) is a tax reform and simplification law that enacted rules to severely limit taxpayers’ ability to deduct some business interest expenses. This limitation, in new section 163(j), has both substantive tax effects and significant implementation...

The Tax Cuts and Jobs Act (P.L. 115-97) enacted new rules that can severely limit taxpayers' ability to deduct some business interest expenses. This limitation, in new section 163(j), has both substantive tax effects and significant implementation costs, especially after Treasury released 439...