The One Big Beautiful Bill Act (OBBBA) will have widespread impact for almost every taxpayer. Visit our OBBBA Resource Center regularly for continuing updates and guidance on the tax impact of this legislation to you and your industry.
Learn MoreIf you’ve invested in a small business and sold the stock after holding it for more than five years, you may be able to exclude a percentage of your gain under Internal Revenue Code (IRC) Section 1202. This federal tax benefit can provide investors with significant tax savings, resulting in...
Read MoreThe implementation of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which go into effect in 2018 for public entities and 2019 for non-public entities, will incorporate some sweeping changes for how and when traditional software entities recognize...
Read MoreSophisticated organizations often treat acquisitions as an integral part of their enterprise growth strategy, and, as such, take a proactive approach to the pursuit and execution of a transaction. They invest in building capabilities that allow them to efficiently execute transactions and drive...
Read MoreThe obligation for registered investment companies (RICs) to pay foreign capital gains tax is not new by any means, but it is gaining more attention lately, making it imperative for fund management to take note. Foreign tax withholding on interest and dividends has been and continues to be the...
Read MoreAre you in the auto sales industry? If so, you may be able to exclude the use of a demonstrator (demo) vehicle from gross income and wages — and save on your income and payroll taxes. Generally, full-time auto salespeople using a demo in the area surrounding the sales office can exclude from...
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 MoreThe kiddie tax was added by the Tax Reform Act of 1986 to help prevent wealthy taxpayers from shifting investment assets to children, who generally enjoy lower tax brackets. In its 30-plus years of existence, the kiddie tax has expanded its reach from dependents under the age of 14 to those under...
Read MoreIt’s imperative that landlords and tenants know the tax ramifications — for better or worse — of the language that’s built into their lease and ancillary agreements. And it’s just as important to be aware of tax-impacting items not found in any written agreement. Specifically, there are three areas...
Read MoreThe potential requirement to annually file Form 5500 is one that’s not always top of mind for many businesses. The form is required by the Department of Labor (DOL) and IRS and details financial conditions, investments and operations of benefit plans. If you have more than 100 employees who...
Read MoreIf you buy property with environmental issues, you may be liable — even if you weren’t responsible for the presence of contaminants. To best protect yourself, be sure to include environmental review as part of your due diligence. Why Conduct Environmental Due Diligence The most obvious reason...
Read More