…insurance policy. Let’s review some of the tax issues associated with a sale or surrender of a life insurance policy. Investment in the life insurance contract (tax basis) Taxation of…
…Do you enjoy sharing your SALT knowledge with business clients and colleagues? Our growing Tax team needs another State and Local Tax specialist. This opportunity is for candidates who want…
…the immediately preceding tax year, instead of using the current tax year’s allocations, to determine if the business meets the definition of a tax shelter/syndicate. This regulation will provide much…
…tax payments to assist Virginia taxpayers impacted by the coronavirus. Virginia Income Tax Payments The waiver of interest applies to those payments made by individuals, estates and trusts, and corporations…
…Sign up for our newsletter to stay informed on tax and other accounting topics. Additional Individual Tax Planning Resources New Tax Law: What You Need to Know AMT Changes to…
…be filed by February 28. Property Tax Generally business tangible personal property (BPPT) is taxable in the locality in which it is located on Tax Day, or January 1. Due…
Year-round Strategies to Make the Tax Laws Work for You Strategize for minimizing your taxes in the current tax environment Identify opportunities for your particular situation with your tax advisor…
…tax requirements on out-of-state businesses due to their internet activities. Questions about multi-state tax regulations? Contact Your Opportunity Advisor by Email | 804.747.0000 Additional Resources State Income Tax Changes…
…the taxpayer’s 2021 income (and potentially filing status) these credits/payments have to be reconciled on the taxpayers 2021 Form 1040. The taxpayer could find they are due additional credits or…
…to notices online, and securely access and download their data and account history. “Taxpayers and tax professionals will have a clearer view of the tax information and easier ways to…
…in asset deals which will have a stepped-up tax basis in these assets. Reduced Individual Tax Rates The TCJA temporarily lowers individual income tax rates, including the top marginal rate,…
Business, Professional and Occupational License (BPOL) Tax and Other Business Tax Due Dates For many localities in the Richmond area, local tax filings are due March 1. If a business…