Have you renewed your Virginia business license for 2022?
…City of Richmond’s current BPOL fee structure: If the basis of the tax is less than $5,000 – no tax or fee is due If the basis of the tax…
…City of Richmond’s current BPOL fee structure: If the basis of the tax is less than $5,000 – no tax or fee is due If the basis of the tax…
…discuss these and other tax considerations that apply to your unique business situation and identify planning options. Employer Retention Credit Extension The Consolidated Appropriations Act enacted in December recently extended…
…on all fixed assets held by the company and that all previous tax elections be considered void. Those rules also resulted in many short-period tax years requiring a final tax…
…acquire the new rental property without paying tax on the insurance proceeds or on the proceeds from the sale of the lot. Tax savings opportunity Our client can accomplish their…
…charity. When the taxpayer files their tax return, they can then exclude the amount of the QCD from their taxable income. Please note, there is no charitable deduction on Schedule…
…Account and the tax professional’s Tax Pro Account. Tax professionals may then go to e-Services Transcript Delivery Service to see the taxpayer’s records. Additional IRS Tax Pro Account Features There…
…of Taxation (as provided in Tax Bulletin 20-3) to defer the filing of the return and payment of tax due. We understand the Tax Department plans to be liberal in…
…the use tax directly to the Department of Taxation. Consumer use tax returns must be filed only when there is tax to report. Virginia Department of Taxation auditors check on…
…including Americans who live and work abroad, can now wait until July 15, 2020, to file their 2019 federal income tax return and pay any tax due.” Overview of Tax…
…a seller, understanding the tax implications associated with goodwill is crucial. This article delves into the tax treatment of goodwill in transactions structured as asset sales from both perspectives, explores…
…loan. Your kind gesture may open the door to unexpected taxable income, gift tax, or both. To help avoid these negative tax consequences, consider taking the following steps before lending…
…taxes: SALT workarounds Under the Tax Cuts and Jobs Act (TCJA), up to $10,000 of state and local taxes paid can be deducted on federal income tax returns. The Pass-Through…