Description

Guest Gary Genenbacher joins host Damien Martin to reflect on the first tax filing season for financial institutions under the Tax Cuts and Jobs Act (TCJA). Here's what's covered:

• Gary's perspective on applying the provisions of the TCJA [04:10]
• Key TCJA changes for financial institutions [06:09]
• How financial institutions have reacted to the TCJA changes [10:21]
• The most surprising TCJA provisions [11:16]
• Areas we need guidance [14:08]
• Being off-balance on purpose [16:47]
• Planning considerations for financial institutions after tax reform [19:10]
• Increased conformity between book and tax [23:14]
• The important role tax advisors play [25:54]
• Tax simplification [26:42]

BIO FOR GUEST

Gary Genenbacher is a partner and member of BKD National Financial Services Group. Gary focuses on providing family-owned businesses with tax solutions and corporations with strategic tax planning, including subchapter S conversions, retirement planning strategies, accounting methods and tax credit opportunities.

• Connect with Gary on LinkedIn

ADDITIONAL RESOURCES

• Mentioned in the episode:
  • What We Learned from Tax Reform for Individuals presented by Jeff Bodkin, Susan Jones, Derek Smith and Damien Martin (August 8, 2019)
  • What We Learned from Tax Reform For Businesses presented by Rick Klahsen, Melissa Pozniak, Jesse Palmer and Damien Martin (August 9, 2019)
  • "Simply Tax" Episode 67: An Insider's View: The IRS & Public Accounting with David Kirk
  • "Simply Tax" Insight Video: Rental Activities as a Trade or Business
• Learn more about some of the topics discussed in the episode:
  • Financial Services Tax Reform Update presented by Gwyn Eastom and Steven Cunningham (December 20, 2018)
  • "Simply Tax" Episode 17: Tax Reform for Financial Institutions (March 8, 2018)
• Learn more about tax reform with BKD's Tax Reform Resource Center

GET MORE "SIMPLY TAX"

We're excited to also provide video content to strengthen your tax mind! Check it out on our new YouTube channel.

A complete archive of our episodes is available on our website and YouTube playlist.

We'd love to hear from you! Email feedback and questions to SimplyTax@bkd.com.

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