With the influx of new and younger residents migrating to the state, and the inflow of hedge funds and private equity firms in recent years, South...
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Joe Biden Is President-Elect: What’s Next for US Tax and Trade Policy?
Joe Biden, who has been projected as the winner of the Presidential election by the Associated Press and others, pledged during his campaign to...
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Bankruptcy Reorganization Act Opens Up New Opportunities for Small Businesses
In February 2020, Congress enacted the Small Business Reorganization Act of 2019, creating a new subchapter (Subchapter V) of Chapter 11 of...
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C-corp – Is It Right for Your Business?
The new U.S. tax legislation offers a sweet deal for C corporations, which can make giving up your passthrough status an attractive option. If an...
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IRS Provides Methods for Calculating W-2 Wages for QBI Deduction Limitation
For certain taxpayers, the deduction for Qualified Business Income (QBI) is limited to the greater of: (1) 50% of the W-2 wages paid by the...
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Year-end tax planning for small businesses
Managing a business is not easy. With multiple changes in 2018 to tax laws, it is helpful to know or refresh yourself on how some of these changes...
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Year-end tax planning for individuals
As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly next...
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How to know you need an accountant, or maybe a new one
Many people don’t think they need an accountant or tax advisor. Maybe some of us have had a bad experience with an accountant that was too busy...
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Taxpayer Protection Act Signed into Law to Protect Taxpayers from Incompetent Tax Return Preparers
According to the IRS, about 60% of taxpayers use professionals, such as Certified Public Accountants, to prepare their annual income tax returns. ...
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When you earn unexpected income, plan ahead to pay as little tax as possible while avoiding penalties
When our clients experience a spike in income, such as a large gain on the sale of stock, they typically come to us with two reactions. The first is...
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