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Learn MoreMany employers reward key executives and employees by offering non-qualified deferred compensation plans, which allow them to contribute unlimited amounts of compensation on a tax-deferred basis. This is a significant enticement for upper-tier employees, as they are generally highly compensated and...
Read MoreJune 21, 2018, marked the end of an era for retailers not charging sales tax. The Supreme Court’s 5-4 decision in South Dakota v. Wayfair, et al. favored states when it overruled the “physical presence” standard long held in Quill Corp. v. North Dakota. As a result states will now have more...
Read MoreAlthough they’ve been around since 2008, cryptocurrencies continue to draw fascination from every corner of the globe, making their way into TV news reports, investor meetings and even cocktail party conversations. But what are they? How do they work? And do they represent the future of a digital,...
Read MoreRegulated Investment Companies (RICs) are taxed as corporations, where the entity-level corporate income tax is typically eliminated by applying the dividends paid deduction (DPD) allowed via Internal Revenue Code (IRC) Section 561. At a basic level, as long as a RIC distributes to shareholders...
Read MoreClassifying and reporting income and losses related to a land rent, such as a flat-surface parking lot, can be more difficult than you might think. Many complexities of the tax law come into play and will depend on your specific situation, namely on if you operate the parking lot as a business or if...
Read MoreSchool clubs can come in various forms, such as booster, parents or sports clubs, and are generally comprised of both students and adults trying to raise funds to support a specific school function. But being in charge of or even working in the business office of a club at your local school comes...
Read MoreProcess automation is nothing new. Business leaders have sought out opportunities to achieve greater operating efficiencies since the beginning of the industrial revolution. Robots are hardly new either. For years we’ve seen them transform the manufacturing floor through the automation of manual and...
Read MoreIn which state your trust “lives” — including your grantor, trustee, administration and even perhaps your beneficiary — will determine how the trust will be taxed. Residency status also helps identify what planning opportunities may be available to minimize the tax. Residency Factors Each...
Read MoreWhen paying the property tax bill, it usually makes sense for the tenant to be responsible for appealing a property tax assessment. But that’s not always the best move. Leaving an appeal to your tenant could result in unintended legal and financial consequences. Pros and Cons When you aren’t...
Read MoreUnder the Disaster Tax Relief and Airport and Airway Extension Act of 2017 (Act) enacted on September 29, 2017, the IRS provides tax relief for those affected by hurricanes Irma, Harvey and Maria. Deductions for personal casualty losses and distributions from retirement plans are impacted. In...
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