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Tax Issues

Conservation Incentive Easement Act
A bill has been introduced to House (H.R. 641) and Senate (S.330) that amends the Internal Revenue Code to: (1) make permanent the tax deduction for charitable contributions by individuals and corporations of real property interests for conservation purposes, and (2) allow Native Corporations an increased tax deduction for donations of conservation easements related to lands conveyed under the Alaska Native Claims Settlement Act. Read more


PHIT Act
Introduced in March 2016 the Personal Health Investment Today Act amends the Internal Revenue Code of 1986 to treat certain amounts paid for physical activity, fitness, and exercise as amounts paid for medical care. This Bill would allow individuals to credit as part of their Pre-Tax medical account of up to $1,000 for individual and $2,000 for family annually. Read more


Eminent Domain
Eminent domain is used by government as a means of providing essential services to a vast majority of citizens by condemning private property in the name of the “common good.” Examples over the years have included the development of our interstate highway system and the establishment of military forts and bases. Eminent domain is also sometimes used as a tool by government to boost local economies, implying that the responsibility of government to stimulate economic growth is sometimes greater than the responsibility of government to protect the rights of property owners and to safeguard free enterprise. Read more


IRS Regulations
In August of this year the IRS issued proposed regulations that will eliminate (or severely limit) the ability to discount the value of transfer of interest in closely held entities (Family Limited Partnerships (FLP), Limited Liability Corporations (LLCs), family corporations) to family members. If enacted in their current form, would result in family business owners paying much higher gift and estate taxes when transferring ownership of their business to their heirs. Read more


Disaster Relief Fairness
Because of a disaster tax exclusion, in the wake of disasters, golf courses that pay taxes have been denied access to bonus depreciation, the expensing of demolition costs, and additional time to carry back net operating losses for expenses related to the given disaster. Following the recent flooding in Louisiana and Hurricane Matthew, we will be working with WE ARE GOLF representatives at Forbes-Tate on creating a more compelling reason change is needed to provide golf course owners equal level of support other small businesses are entitled to. Read more


Regulatory Burden Act (Pesticide Application)
Golf course operators and their superintendents are some of the nation's leading practitioners of integrated pest management, a philosophy that reduces the potential environmental risks of pesticide usage. However, pesticide users are now subject to a court-imposed requirement that creates additional burdens on their aquatic pesticide applications on, over, or near “waters of the U.S.” Such applications were already effectively regulated under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), but they must now receive additional, and unnecessary, permits under the Clean Water Act that do not provide additional environmental protection. Read more


Retaining the Durbin Amendment
On April 21, the Republican-led House introduced the Financial CHOICE Act, which, if enacted, would repeal Dodd–Frank. The latter, passed in 2010, made sweeping changes in the American financial regulatory environment that affected all federal regulatory agencies and almost every part of the nation’s financial services industry. While the primary objective of the Financial Choice Act was to rescind the Dodd-Frank Act, also included was the repeal of the Durbin Amendment. Read more


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