Tax Cuts and Jobs Act

State of the State 2018: Cuomo tears into Trump, TCJA

By GREGORY ZELLER // He’s Andrew Cuomo, and he approves this message. With a deft comedic touch, impressive stamina and a decidedly presidential timbre, Gov. Andrew Cuomo delivered a no-holds-barred 2018 State of the State Address Wednesday, blasting “federal” targets, touting seven years of statewide socioeconomic progress under his watch and laying out an ambitious New Year’s agenda. The governor’s 90-minute address rocketed from business-development programs to clean-energy initiatives to environmental-remediation efforts to the new…


No. 269: Cuomo’s big plans, LI’s bouncing babies and other exciting ways to start your innovative 2018

Hello, you wonderful old Building & Loan! OK, yes, enough already with the Christmas references – but the very first U.S. building & loan association organized 87 years ago today in Frankford, Pa. Thought you’d like to know. And with that quick history lesson, we turn our eyes squarely ahead toward another year of invention, collaboration and healthy socioeconomic development on Long Island. The Innovate LI team will be here every step of the way,…


Tax update 2018: ‘Cuts and Jobs Act’ will hit LI hard

By TIMOTHY McHALE // At first glance, the recently passed Tax Cuts and Jobs Act seems to hit Long Island – and all high-tax areas – pretty hard. One reason: Many businesses on Long Island are pass-through entities in the service sector, which do not qualify for the reduced corporate rate or the additional pass-through deductions. Pass-through entities, with the exception of service industries, are allowed a deduction (subject to limitations) that effectively taxes their…


TCJA: Too soon to panic (but not to start planning)

By TIMOTHY McHALE and ED McWILLIAMS // Finally, after months of fanfare and blueprints (and endless requests from our managing partner, Ken Cerini, to put out content on what a potential Republican tax plan would mean for our clients), the House Ways and Means Committee has released the Tax Cuts and Jobs Act. While previously released frameworks offered few details, the TCJA comes in at a robust 429 pages – worthy of a seismic shift…