Robert L. Jones, III, Author at Beggs and Lane RLLP | Attorneys and Counsellors at Law

About Robert L. Jones, III

Robert L. Jones, III is a partner in the firm’s Pensacola office. Mr. Jones is a board certified tax attorney. He serves as Practice Group Manager for the firm’s Corporate and Tax practices and is a member of the firm’s Trust and Estate practice group. Mr. Jones practices in the areas of tax law, corporate law, including mergers and acquisitions, estate planning, including high-net worth estate tax planning, probate, not-for profit and charitable organizations, and business planning, from the creation of a business to succession planning. Mr. Jones is a sixth generation Florida resident. Mr. Jones received a B.A. from the University of Florida. He was a member of Florida Blue Key and the Kappa Sigma Fraternity while at the University of Florida. Mr. Jones received his law degree from the University of Arkansas at Little Rock, College of Law, where he was an Editor of the UALR Law Review. Mr. Jones then received a Master of Laws degree in Taxation, from the University of Florida, College of Law where he was the Managing Editor of the Florida Tax Review. Mr. Jones is a member and president of the Estate Planning Council of Northwest Florida (2017-2018), the Board of Directors for the Escambia County Public Schools Foundation and the Board of Directors for Baptist Health Care Foundation. Robert is admitted to practice to the U.S. Tax Court, the U.S. District Court for the Northern District of Florida, the U.S. District Court for the Middle District of Florida and all Florida state courts. Robert is an AV rated attorney by Martindale-Hubbell. In 2015, 2016, and 2017, Mr. Jones was recognized as a Rising Star by Florida Super Lawyers Magazine in the field of Tax Law. Mr. Jones also has previously served as an Adjunct Professor of Federal Income Taxation at the Florida Coastal School of Law. He is also involved with his church and many other community activities.

CARES Act – Net Operating Losses

On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) to provide relief for the acute economic fallout from the coronavirus (COVID-19) pandemic. The CARES Act, among other things, aims to provide significant aid to businesses and employees. One of the key business [...]

By Robert L. Jones, III|2020-04-09T14:30:27+00:00April 9th, 2020|

Employee Retention Credit

The IRS has provided advice for employers on how to claim an employee retention credit on quarterly Form 941 under the coronavirus stimulus legislation. The refundable tax credit is equal to 50% of qualified wages paid to employees after March 12, 2020, and before January 1, 2021. If an employer [...]

By Robert L. Jones, III|2020-04-08T16:54:45+00:00April 7th, 2020|

529 Plans

The Tax Cuts and Jobs Act (“TCJA”), made changes to Internal Revenue Code Section 529. Section 529 created so called “529 Plans” or “qualified tuition plans” for taxpayers to shield growth in college savings from further income taxes. However, the old Section 529 did not allow for private elementary [...]

By Robert L. Jones, III|2020-01-23T16:02:29+00:00January 4th, 2019|

Qualified Opportunity Zones – Opportunity or Trap for Unwary

Under the Tax Cuts and Jobs Act (“TCJA”), a provision was enacted to spur economic development and job creation in distressed communities. Under Section 1400Z a taxpayer may elect to defer gain from the sale or exchange of any property to or with an unrelated person before December 31, 2026 [...]

By Robert L. Jones, III|2020-01-23T16:02:53+00:00October 30th, 2018|

Profits Interest and Section 1061 – Three Year Holding Period Requirement for Long-Term Capital Gain Treatment

Under the Tax Cuts and Jobs Act (“TCJA”), a taxpayer holding an “applicable partnership interest” is required to recalculate any net long-term capital gain realized “with respect to” the “applicable partnership interest” by applying a three-year holding period (instead of the standard one-year holding period). Internal Revenue Code (“IRC”) § [...]

By Robert L. Jones, III|2020-01-23T16:03:13+00:00October 25th, 2018|

Section 1031 Exchanges and Proposed Reforms

The 1031 Exchange: Section 1031 of the Internal Revenue Code provides an exception from the rule requiring the current recognition of gain or loss realized upon the sale or exchange of property. Under §1031(a), no gain or loss is recognized if property held for productive use in a trade or [...]

By Robert L. Jones, III|2020-01-23T16:04:55+00:00June 19th, 2017|

Late Subchapter S Election Relief

If a taxpayer misses the deadline to file a subchapter S election all is not lost. The Internal Revenue Service (IRS) has struggled with the procedures for obtaining relief from missing such a filing. Rev. Proc. 2013-30 is the method for obtaining relief for late S elections. It modifies and [...]

By Robert L. Jones, III|2020-01-23T16:05:19+00:00November 17th, 2016|