Sales Tax Updates for Florida, Missouri, and Colorado

The U.S. Supreme Court decision in South Dakota v. Wayfair ("Wayfair" ) created enormous changes to how businesses making remote sales into states handle sales tax. Here are some updates for Florida, Missouri, and Colorado. If you do business [...]

By |2021-10-14T15:29:03-04:00October 14th, 2021|Categories: Blog, SALT, Tax|0 Comments

Debate continues in Congress over proposed tax provisions

Negotiations continue in Washington, D.C., over the future of President Biden’s agenda. Tax law changes may be ahead under two proposed laws, the Build Back Better Act (BBBA) and the Bipartisan Infrastructure Bill (BIB), also known as the Infrastructure [...]

By |2021-10-13T15:55:15-04:00October 13th, 2021|Categories: Blog, Tax|0 Comments

2021 Q4 tax calendar: Key deadlines for businesses and other employers

The fourth quarter of 2021 is here, and with it comes more deadlines for your tax team. Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind that [...]

By |2021-10-05T18:50:07-04:00October 4th, 2021|Categories: Blog, Tax|0 Comments

M&A transactions: Be careful when reporting to the IRS

Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports that 2021 is set to be the biggest in [...]

By |2021-09-27T18:38:44-04:00September 27th, 2021|Categories: Blog, Tax|0 Comments

Tax depreciation rules for business automobiles

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger autos (which include many pickups and SUVs) [...]

By |2021-09-21T12:17:16-04:00September 20th, 2021|Categories: Blog, Tax|0 Comments

Tax breaks to consider during National Small Business Week

The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to consider. Claim bonus depreciation or a Section 179 deduction for asset additions [...]

By |2021-09-13T12:37:22-04:00September 13th, 2021|Categories: Blog, Tax|0 Comments

Claiming a theft loss deduction if your business is the victim of embezzlement

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have to substantiate the loss. A recent U.S. Tax Court [...]

By |2021-09-07T16:10:11-04:00September 7th, 2021|Categories: Blog, Tax|0 Comments

San Francisco to Impose Additional Employer Tax

San Francisco will impose an additional employer tax on certain businesses, effective in 2022. Businesses affected are those in which the highest-paid managerial employee earns more than 100 times the median compensation of its employees. The tax rate will [...]

By |2021-09-08T12:28:25-04:00September 1st, 2021|Categories: Blog, California, Kaylyn Kleinhans, SALT, Tax|0 Comments

Gig Worker Law Ruled Unconstitutional

California’s Gig Worker law (Prop. 22), which passed in Nov. 2020, has been ruled unconstitutional. That law exempts app-based driving companies such as Uber and Lyft from a previously passed law, known as the 2020 ABC test. That test [...]

By |2021-09-08T12:27:03-04:00September 1st, 2021|Categories: Blog, California, SALT, Tax|0 Comments
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