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The World Post-Wayfair: State Tax Nexus Thresholds

October 11, 2018

Navigating the maze of state sales taxes got more complex this year for remote sellers. The June SCOTUS decision in the South Dakota v. Wayfair case opened the door for states to expand their tax base. Many states have updated... Read More

IRS Clarifies New Rules for Bonus Depreciation

October 3, 2018

Bonus Depreciation Guidance Clears Up Important Questions on 100% Write-Offs The expansion of bonus depreciation was a welcome part of the Tax Cuts and Jobs Act, and now the IRS has released regulations to clarify many aspects of the new... Read More

IRS Explains New Limits on Executive Compensation Deduction

October 3, 2018

Companies hoping to sidestep the new limits on the executive compensation deduction may be disappointed with new guidance from the IRS, which restricts the grandfather rules and confirms the expanded scope of covered executives. Notice 2018-68 narrowly construes whether pre-2018... Read More

New Charitable Deduction Rules Could Impact Popular State Tax Credits

October 3, 2018

Since Congress passed the $10,000 limit and on state and local tax (SALT) deductions in late 2017, high-tax states have scrambled to create state programs that would allow taxpayers to circumvent this limit. These “SALT workarounds”, put in place by... Read More

Sales Tax Planning: What You Need to Know about the Wayfair Supreme Court Decision

August 14, 2018

For internet retailers, the June 21 U.S. Supreme Court ruling on South Dakota v. Wayfair has significant implications, including the added burden of sales tax compliance. As a result of this ruling, many internet shoppers will notice their favorite retailers... Read More

New Rules for Passthroughs Ease Concerns, Allow Aggregation

August 14, 2018

One of the more complex areas of the Tax Cuts and Jobs Act (TCJA) is the 20% deduction for the “qualified business income” of sole proprietorships, partnerships, LLCs, and S corporations. While the deduction is an important tax break for... Read More

R&D Tax Credits: Georgia Makes a Good Deal Even Better

August 7, 2018

In order to encourage companies to invest in R&D, and to reward them for doing so, Federal and Georgia tax rules provide what can be very significant tax credits (dollar for dollar reduction in tax liability). On February 7, 2018,... Read More

State Collection of Online Sales Taxes Cleared by Supreme Court

August 3, 2018

For the past 26 years, sellers of goods across state lines have been protected from state sales tax laws by the 1992 Supreme Court decision in Quill v. North Dakota, which held that out-of-state sellers cannot be required to collect... Read More

Draft Form 1040 Falls Short of Simplification Promise, W-4 a Different Problem

July 26, 2018

Congress promised big tax cuts and simplification of income taxes in its mammoth tax bill, the Tax Cuts and Jobs Act. It certainly delivered on the tax cut promise, but the simplification effort fell short, as evidenced by the IRS’s... Read More

IRS Again Waives Repatriation Tax Penalties

July 26, 2018

In its third action this year, the IRS announced that it will waive additional late payment penalties for the repatriation transition tax on offshore profits. More guidance is also provided on how individuals subject to the tax make elections (see... Read More

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