Marcum 2021 Year-End Tax Guide

Table of Contents

1 About Marcum LLP 3 2021 Year-End Review 15 Bipartisan Infrastructure and Jobs Act (BIJA) 16 2021 Year-End Tax Planning Strategies for Individuals 20 Planning Considerations for Today’s Modern Families 22 Restaurant Revitalization Fund: Act Now Before Year End 23 Self-Employment Tax Considerations for LLC Members 25 Equity-Based Compensation 29 The Effect of Tax Law Changes on Decisions Regarding Choice of Entity 31 Gift and Estate Tax Planning Opportunities 33 Prioritizing Estate Plans: Proposed Tax Law Changes 34 Nonprofits: A Glance Behind and a Look Ahead 35 How Commercial Solar Projects Work Within ESG

37 The Importance of Performing a Cybersecurity Threat Assessment 39 The Real Estate Industry’s Pandemic Rebuild 42 Year-End Tax Planning for Contractors 45 International Taxation Matters: Potential Impact and Planning Points 48 Transfer Pricing Update 53 Research and Development (R&D) Tax Credit Applicability and Benefit 56 State and Local Tax Updates 57 State Tax Nexus 58 Pass-Through Entity Tax Workarounds by States 59 State Telecommuting and Residency Considerations 61 Top Year-End Investment Tips 65 2021 and 2022 Inflation/Cost of Living Updates: Reference Tables 70 Contributors

MARCUM 2021 YEAR-END TAX GUIDE