Visit our new Inflation Reduction Act Resource Center to find answers to your questions about this landmark clean energy legislation.
Learn MoreYou may have breathed a sigh of relief now that the April 18 deadline to file your taxes (or request an extension) has come and gone. However, if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks, bank and brokerage statements, and other...
Read MoreAccounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, is likely one of the most important standards we have seen from the Financial Accounting Standards Board (FASB) in recent memory. The core underlying principles of the standard, which apply to all companies with...
Read MoreA recent decision by the U.S. Tax Court in a case involving a married couple’s real estate activities included both good and bad outcomes for them on some of their deductions. On both counts, though, the court’s ruling came down to their record keeping. The Challenged Deductions The couple...
Read MoreYou’ve probably heard of trial court, family court and even bankruptcy court. While tax court is a place less familiar than the rest, it can be a necessary step for taxpayers who are in disagreement with the IRS about the amount of taxes they owe. Tax courts are set up in each state. Each court...
Read MoreNOTE: This article was written prior to the Tax Cuts and Jobs Act of 2017. Therefore, information in this post may be inaccurate. Business owners and executives often incur a number of travel, entertainment and meal expenses in the course of their everyday activities to grow and develop the...
Read MoreYour business likely has a tax filing requirement in a state where you are not currently filing — and perhaps not even setting foot in. One of the most frustrating types of analyses for a business is evaluating whether it has nexus, or potential tax filing requirements, in state or local...
Read MoreA recent taxpayer victory in Ohio could influence all states imposing a personal income tax. In Corrigan v. Testa, the Ohio Supreme Court ruled Ohio cannot tax the capital gain received when a non-resident sells his passive ownership interest in an Ohio limited liability company (LLC). The Court...
Read MoreIn a recent response to the Investment Adviser Association, the SEC’s Division of Investment Management has issued a no-action letter stating that Registered Investment Advisers (RIAs) with Standing Letters of Authorization (SLOA) from clients are considered to have regulatory custody of their...
Read MoreThe consequences of doing business in a country with which the U.S. has a tax treaty can be much different than those encountered when dealing with a non-treaty country. It’s important to understand the basic differences of each. Treaty Countries The United States has a number of bilateral...
Read MoreEvery business requires comprehensive insurance coverage to protect its assets and income. Property owners and developers need to consider more than just general liability, workers’ compensation and business interruption policies, though. Here’s a quick overview of what else may be available and...
Read More