business tax

Important Tax Provisions in the Coronavirus Aid, Relief, and Economic Security Act – Passed U.S. Senate on March 25, 2020

Taxes on Individuals Recovery Rebates The CARES Act contains rebate amounts equal to $1,200 for individuals, or $2,400 for joint filers, with a $500 credit for each qualifying child. These rebates are advanced refund credits against 2020 taxes. The rebate amounts are phased out based on the 2018 adjusted gross income (unless a 2019 return [...]

2020-03-27T10:22:08-04:00March 27th, 2020|BUSINESS TAX, COVID-19, INDIVIDUAL TAX|

U.S. Treasury and IRS Postpone Income Tax Filing and Payment Deadlines

Updated 3.23.2020 In the fast-moving and ever-changing environment surrounding the Coronavirus pandemic, the U.S. Treasury announced that the tax filing deadline of April 15, 2020, will be pushed back to July 15, 2020.  This was a change of course from announcements made only days earlier. Earlier this week, Treasury and the IRS announced that they [...]

Post-TCJA Year-End Tax Planning for Businesses

Many businesses struggled with uncertainty this past tax-filing season as the newly-passed Tax Cuts and Jobs Act (TCJA) had significant changes for their bottom lines. With the upcoming tax filing season right around the corner, incorporating lessons learned from last year can help with the year-end tax planning for your business. There are a number [...]

2019-11-05T16:58:32-05:00November 5th, 2019|BUSINESS TAX|

How South Dakota v. Wayfair Affects Manufacturing and Distribution Companies

It’s been almost a year now since the Supreme Court’s South Dakota v. Wayfair decision affirmed the state’s law regarding the taxation of out-of-state sellers. There’s been a lot written in that time about how retailers need to better track sales and compliance with similar laws in an increasing number of states throughout the U.S. [...]

What to Consider When Deciding Between a Calendar Year and a Fiscal Year

It is common for organizations to use a calendar year, as opposed to a fiscal year, as the tax year calendar for their company. The choice is made easy but its intuitiveness and tends to line up with personal returns—this makes things simple and easy. However, many businesses have dominating operating seasons that don’t always [...]

2019-04-02T21:05:27-04:00April 2nd, 2019|BUSINESS TAX|

Taking Advantage of the Tax-Efficient Exit Strategy that ESOPs Offer

When you own a closely held company, and you start approaching retirement age, it’s easy to struggle with balancing conflicting goals for your business. In a case like this, an employee stock ownership plan (ESOP) may be the best answer. Take a Closer Look It’s common for business owners to have to tap at least [...]

2019-02-19T10:33:03-05:00February 19th, 2019|BUSINESS TAX|

CRI Tax Talk: A Post Wayfair World: What’s Next?

Prior to the Supreme Court’s decision in the South Dakota vs. Wayfair case, a retailer had to have a physical presence in a state before it was required to charge sales tax. We’re breaking down what this decision means and how it could affect you and your business moving forward. [...]

2018-11-12T15:42:33-05:00August 21st, 2018|BUSINESS TAX, VIDEO|

Recent Georgia Income Tax Law Changes

Federal tax reform changes aren’t the only changes to tax laws in 2018 –- there are also changes here at the local level in Georgia to consider as well! Governor Nathan Deal recently signed two major revisions affecting nearly all Georgia taxpayers. These changes are in response to the massive federal tax reform signed into law [...]

2018-11-12T15:42:50-05:00March 19th, 2018|BUSINESS TAX, INDIVIDUAL TAX|

Understanding Tax Reform’s New Pass-Through Entity Deduction

As many business owners might tell you, there are times when business income and individual income can feel like two parallel universes co-existing in the cosmos. While they are closely related, passing through income from one to the other can seem as complicated as space travel itself. Lucky for you, recent changes within the Tax [...]

Tax Reform’s Bonus Depreciation and Section 179 Gift

On December 22, 2017, the President signed the Tax Reform legislation. The bill largely took effect in 2018 and made significant changes that impact most — if not all — taxpayers. Increased deductions for bonus depreciation and Section 179 expense are just two of these changes impacting business taxpayers, and these largely positive changes are [...]

2019-11-18T16:56:32-05:00January 15th, 2018|BUSINESS TAX, TAX REFORM: BUSINESS TAX|

Entity Selection Gets Murkier with New Tax Reform Passage

Choosing the best type of entity structure for your business has always been a complicated process. There are so many factors that go into making this decision - number of owners, state law, and taxation of the business and its owners to name a few. With the recent passage of Tax Reform, taxation has been [...]

2018-11-12T15:43:25-05:00January 8th, 2018|BUSINESS TAX, FEBRUARY 2018, TAX REFORM: BUSINESS TAX|