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Proposed Tax Legislation Impacts Financial Institutions

Executive Summary: The much-debated tax reform proposal currently under consideration may have unexpected impacts to many financial institutions.   As drafted, both the House and Senate bills include a corporate rate reduction for federal income taxes from 35% to...

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Proposed Tax Cuts & Jobs Act

The Republican controlled House of Representatives unveiled their first draft at tax reform on November 2, 2017.  The 429 page H.R. 1 bill proposes significant changes to individual, business, gift and estate taxes.  The House Ways and Means Committee also released a...

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Before Year-End, Get The Most Out of Your FSA

If you have money set aside in a Flexible Spending Account (FSA), you know it's a great tax saving vehicle. Not only are your FSA contributions not taxed, but you don't have to wait until you have enough money in the account for a planned medical expense, such as...

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Old Habits May Be Costing You Dearly

There's an old story of a soldier who got up every morning, walked over to an unused iron stove in the middle of the barracks and gave it a swift kick. Then he'd hop around in pain and yell at the stove. When a fellow soldier asked him why he did such a thing, he said...

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Family Business: Why You Need a Buy-Sell Agreement

If you co-own a business with other family members, it's generally a good idea to have a well-drafted buy-sell agreement to protect everyone's interests. Here are some basics about this important document, including the valuation methods used. There are two basic...

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Tennessee’s IMPROVE Act

Improving Manufacturing, Public Roads and Opportunities for a Vibrant Economy (IMPROVE) Act  The Tennessee General Assembly approved the IMPROVE Act on April 19th, 2017.  An amendment to the House bill was approved on April 24th and Governor Haslam signed the bill...

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