The American Society of Appraisers BVC to Study New 2018 Tax Law

The Tax Cuts and Jobs Act became effective on January 1, 2018, which may impact the value of various entities and intangible assets. This will necessitate changes in our practice application to value these entities and assets.

News provided by

American Society of Appraisers

Jan 12, 2018, 08:30 ET

RESTON, Va., Jan. 12, 2018 /PRNewswire/ -- The Business Valuation Committee of American Society of Appraisers is studying the new tax law to determine (1) the value impact and (2) changes to applied procedures as necessary. A Tax Reform Task Force (TRTF) has been appointed, chaired by William H. Frazier, ASA, to study these issues and present recommended solutions. The task force, comprised of thought leaders within BV, will likely solicit opinions from various valuation scholars and academics. As recommendations are developed, they will be communicated by ASA's Business Valuation Committee to the valuation profession.

At this juncture, the task force has identified the following topics for study. Many of the topics impacted by the new tax law have complicated rules and exceptions not listed here:

  • C corporation 21% flat tax rate
  • Deductibility of interest – new limits
  • 100% 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
  • Like-kind exchanges – repeals application to certain business or investment property

If you have identified additional topics you believe are affected by the new tax law, please contact William H. Frazier, ASA at [email protected].

American Society of Appraisers
The American Society of Appraisers (ASA) is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. ASA is the oldest and only major organization representing ALL disciplines of appraisal specialists, originating in 1936 and incorporating in 1952. ASA's headquarters is in the metropolitan Washington, DC area. To learn about membership in ASA or find an accredited appraiser near you, visit www.appraisers.org or call (800) 272-8258.

Media Contact:

Todd Paradis
703-733-2124
[email protected]

SOURCE American Society of Appraisers

Related Links

http://www.appraisers.org

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