tax

New Tax Provisions Introduced by the Further Consolidated Appropriations Act, 2020

On Friday, December 20, 2019, the President signed the Further Consolidated Appropriations Act, 2020 (the “Act”) which addresses several tax provisions such as retirement plan funding and distribution reform, items related to expiring or expired tax provisions (“tax extenders”), and disaster tax relief. RETIREMENT PLAN FUNDING AND DISTRIBUTION REFORM The Act also includes the SECURE [...]

2019-12-26T08:43:22-05:00December 20th, 2019|INDIVIDUAL TAX|

It’s Never Too Late: See How You Can Cut the Bill for Your 2019 Taxes

With the latest change of seasons, that means that filing your tax return is right around the corner and will require your full attention very soon. Although there were a number of tactical strategies proposed and utilized during the most recent tax filing season under the latest changes from the Tax Cuts and Jobs Act [...]

2020-01-22T16:35:12-05:00December 16th, 2019|INDIVIDUAL TAX, Uncategorized|

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. [...]

Cryptocurrency and Taxes: What You Need to Know

Preparing for Your Cryptocurrency Tax Obligations As the saying goes, it is best to “be prepared” for any situation that arises. When it comes to cryptocurrencies, this statement could not ring truer. Waiting until next April to think about the tax implications of virtual currency transactions will make the tax preparation process difficult and burdensome, [...]

2018-11-12T15:42:38-05:00June 25th, 2018|CRYPTOCURRENCY, INDIVIDUAL TAX|

One Taxing Situation: South Dakota vs. Wayfair, Inc

Additional Articles in Series South Dakota vs. Wayfair: How Will You Manage Sales Tax Compliance? The United States Supreme Court delivered its ruling on the much talked about “South Dakota vs. Wayfair” case that will change how interstate sales are taxed. As a result of this ruling, states can now enforce [...]

2018-11-12T15:42:39-05:00June 22nd, 2018|STATE & LOCAL TAX|

Don’t Let These 7 Tax Terms Scare You

It can be startling to see terms that you do not recognize, particularly terms applying to taxes. Take a few minutes to familiarize yourself with these common tax terms so that they don’t spook you! 1. AGI Adjusted gross income (AGI) is the number you add to that very last box on Page 1 of your [...]

2018-11-12T15:44:09-05:00September 26th, 2017|INDIVIDUAL TAX, OCTOBER 2017|

Sail Smoothly Through Those Saving or Shredding Decisions

With that sigh of relief that the deadline to file your tax return—or request an extension—has passed you may also desire to purge some prior year documents such as receipts, canceled checks, and bank and brokerage statements. Follow these general retention tips for individuals and businesses as you head toward the blue skies of summer. [...]

2018-11-12T15:44:54-05:00May 5th, 2017|BUSINESS TAX, INDIVIDUAL TAX, May 2017|