The business and economic climate in which we operate has seen a vast dichotomy of challenges and opportunities over the past year. Rising inflation, accompanied by rising prices to maintain margins; an influx of capital in the private marketplace and consistent M&A activity mark a few of the...
Read MorePosted by Jamie Studer and Alane Boffa
Read MoreSales and use taxes have been building in importance in the years since economic nexus thresholds were established in South Dakota v. Wayfair, Inc. in 2018 — making it vital for businesses to have a handle on this area of taxation. And there is no better time to assess your sales and use...
Read MoreAt this year’s fall Cohen & Co CPE Day, there was a special feeling in the air as our colleagues, peers and friends came together live and in person to learn from our presenters and each other about a variety of issues for their businesses. Below are some of the highlights from the day...
Read MoreOn September 9, 2022, the Commonwealth Court of Pennsylvania granted relief to Online Merchants Guild, a trade association composed of independent e-commerce businesses, for Fulfillment by Amazon (FBA) merchants. The ruling — stating that non-Pennsylvania businesses selling merchandise...
Read MoreMaryland’s 2021 digital advertising tax — the first of its kind in the U.S. — was poised to raise an estimated $250 million annually by taxing corporations like Google and Facebook for selling online ads. However, the tax would apply to corporations of all sizes, with the rate...
Read MoreOn September 23, 2022, Senate Bill 246 went into effect. Beginning with tax year 2022, Ohio pass-through entities (PTEs) may elect to be taxed at the entity level, allowing them to deduct from their federal income the amount of PTE tax they paid for the year. The measure is meant to allow...
Read MoreNow is arguably an exciting time for businesses and their owners. Flexibility and innovation offer endless possibilities. But that excitement also comes with its challenges — from finding the right talent, to understanding evolving tax laws for employees who may sit in a completely...
Read MoreAs a professional services firm, we focus on helping others be successful — our clients and their businesses, our colleagues and our profession as a whole. As leaders in an industry that is constantly changing and presenting new challenges (which we welcome), we are also committed to...
Read MoreOn June 14, 2022, Ohio Governor Mike DeWine signed Senate Bill 246 (S.B. 246) into law, giving businesses in the state potential relief from the federal tax burden created by the Tax Cuts and Jobs Act’s (TCJA) $10,000 cap on state and local tax deductions. Under this new legislation...
Read MoreOn May 6, the New York Senate enacted Bill S8948, giving eligible S corporations and partnerships more time to evaluate and elect the state’s pass-through entity tax for 2022. The new amendment allows entities that missed the March 15, 2022, deadline until September 15, 2022, to make their...
Read MoreGovernor Whitmer signed H.B. 5376 on December 20, 2021, enacting a flow-through entity tax for those doing business in Michigan. This legislation was passed as a workaround to the federal $10,000 state and local tax deduction limitation that has frustrated many business owners since it was passed...
Read MoreAs the pandemic drags on, employees continue to split their time between the office and home — leaving many questions for employers and employees related to city income tax withholding. Below takes a look at the reality Ohio municipalities have faced over the past two years and where those...
Read MoreHappy New Year! Gov. Whitmer has given Michigan residents a present in the form of an election to have pass-through entities pay, and deduct, state taxes paid on behalf of its pass-through owners, retroactively effective January 1, 2021.This election removes these taxes from the individual...
Read MoreThe election of a new president in 2020 created much speculation regarding changes to tax law, but minimal lasting changes actually took place in 2021.While the Consolidated Appropriations Act and American Rescue Plan modified and expanded some tax provisions for 2021, we still rely on the Tax...
Read MoreTalk about being thankful. We had more than 350 clients and friends register for our annual fall CPE day — undaunted by the virtual format we presented in again this year. We are always truly happy to put together this day, no matter the format, to help educate clients on what they need to...
Read MoreEveryone loves a good tax credit, but Pennsylvania tax credits are especially popular among the state’s start-ups, and for good reason. Many of these credits can be sold on a secondary market for cash, including the Keystone Innovation Zone (KIZ) credit and the Research and Development (R...
Read MoreSales and use taxes are transactional based and impact everyone and every business. Ohio, in particular, imposes sales and use tax on enumerated services, or specific services it deems taxable, rather than all services by default. Historically, Ohio has imposed sales and use tax on employment...
Read MoreAs we continue to help businesses make their way through an evolving and often challenging economy and onslaught of legislative changes, our tax team continues to dig deep and analyze major issues and opportunities ahead.As editor and contributors to the AICPA’s Tax Adviser August Tax...
Read MoreAs a part of our series aimed at helping you navigate the impact of sales and use tax on your business, periodically we will focus on the impact of these taxes on specific industries, beginning with a high-level look at construction.Construction contractors face many complexities when navigating...
Read More