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"

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

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