2024 SALT Year End Planning
…have to file tax returns in some states. Remote workers – Nexus and withholding requirements Most states now say that remote workers create employment tax requirements (unemployment compensation, income tax…
…have to file tax returns in some states. Remote workers – Nexus and withholding requirements Most states now say that remote workers create employment tax requirements (unemployment compensation, income tax…
…“Tax Cuts and Jobs Act” (P.L. 115-97), a sweeping tax reform law that will entirely change the tax landscape. This comprehensive tax overhaul dramatically changes the rules governing the taxation…
…of CPAs. *Note that the PTE tax (PTET) provisions expire after Taxable Year 2025. Also, there are different guidelines for Taxable Year 2021 and Taxable Years 2022 through 2025. Highlights…
…the Senate and House. The Act includes the following key tax provisions that may impact tax obligations for businesses and business owners. Taxation of Carried Interests As we detailed in…
…benefit you. Business Tax Planning Considerations for Sole Proprietors, LLCs, and S Corps This listing focuses on individual planning strategies, but many taxpayers include business income (or loss) on their…
…investment or December 31, 2026. While most discussion of the TCJA provisions are forward looking to 2018 and beyond, a 2017 tax planning opportunity may still exist for certain taxpayers…
…for calculating income-based taxes such as franchise taxes Evaluating the need for a step-up in tax basis of goodwill Minor codifications for income taxes related to employee stock ownership plans…
By John T. Murray, CPA, Tax Partner Congress Approves Year-End Tax Deal Renewing Expired Tax Breaks Through 2020 A tax package that renews expired incentives for individuals, businesses, health care,…
…the items exempt of the tax and then collect the tax from their customers on those sales. The Department of Taxation clarified in its Tax Bulletin 17-8 the tax responsibilities…
…Budget Bill provided for an individual income tax rebate of up to $250 for single taxpayers and up to $500 for married taxpayers filing a joint tax return. Qualifying taxpayers…
…Tax Time” How much are Virginia Businesses Paying in Taxes? Virginia Residency and Income Tax Requirements 2019 Tax Planning for Virginia Entrepreneurs and Executives [1] Surrounding counties as referenced herein…
2018 Tax Planning Considerations Financial Services Businesses Should Know By Gary G. Wallace, CPA | Financial Services Industry Team A year ago, everyone was anxiously reviewing Tax Reform and how…