…extremely easy to administer and offer simplified record keeping for tax purposes. DAF owners do not have any additional tax filings and the funds are invested and maintained by the…
Keiter’s Tax Practice Leader, Gary Wallace, was recently featured in the following Mergers&Acquisitions Opinion article where he shared insights on the impact of the Tax Cuts and Jobs Act on…
…during the COVID-19 pandemic. excise tax on alcohol temporarily waived for hand sanitizer production The Coronavirus Aid, Relief, and Economic Security (CARES) Act temporarily waives excise taxes on alcohol that…
…may impact individual taxpayers. High-income taxpayers are now subject to limitations on itemized deductions. The limitation may be applicable to taxpayers in the tax brackets of 35%-37% and would generate…
…Learn more about information on top tax state exposures, including income/franchise tax, sales and use tax, property taxes, and business license taxes. Discover the importance of sales and use tax…
…state and local taxes, along with nearly $288.62 million in federal taxes, totaling $497.72 million in tax revenues. From the Eastern Shore to the Appalachian Mountains, Virginia’s 300+ wineries have…
…it relates to your specific involvement. TransactionTax Treatment Purchase Not a taxable event. Purchase price, including commissions and fees = tax “basis” Sale – if an investor Capital gain treatment…
Section 451(b): Overview and Tax Planning Considerations for Businesses Key Takeaways TCJA implemented a new income recognition metric for accrual basis taxpayers “All-events” test had been the applicable standard for…
…proposed amendments to section 1061 would have been effective for taxable years beginning after December 31, 2022. Tax planning opportunities The proposed carried interest tax changes were taken off the…
…need to wait until you file your tax return to get the benefit and you can still reap a benefit even if your tax liability is such that you would…
…the community and currently serves as the Treasurer for the Community Tax Law Project, a Richmond-based low-income taxpayer clinic that assists underserved populations with tax compliance and controversy issues. When…