Category: Tax

Revenue Recognition Rule Changes Under TCJA

The Tax Cuts and Jobs Act (TCJA) contains a provision that ties revenue recognition for book purposes to income reporting for tax purposes, for tax years starting in 2018.

Section 1031 Like-Kind Exchanges under the TCJA

The TCJA didn’t eliminate like-kind exchanges; however, it did eliminate tax-deferred like-kind exchange treatment for exchanges of personal property after December 31, 2017.