As you may be aware, the IRS recently provided a safe harbor to determine when a rental real estate enterprise will qualify as a trade or business, and thus able to receive the 20% Qualified Business Income (QBI) tax deduction. This IRS notice states that a rental enterprise will be treated as a qualifying trade or business if the following three requirements are met:
The Tax Cuts and Jobs Act (TCJA) is the most comprehensive tax reform our country has seen in more than 3 decades, bringing broad and complex changes to businesses in every industry.
With more and more technology firms calling the Boston area home, I thought it might be helpful to discuss some of the implications of the TCJA specific to the tech world.
You've likely heard about the U.S. Supreme Court's decision in the South Dakota vs. Wayfair, Inc. case, and its impacts on the e-commerce industry, consumers, and state and local governments. The June 2018 ruling overturned decades of precedent when it comes to the taxation of revenue from out-of-state sales, allowing states to collect tax where they previously could not.
But did you know that the ruling will also impact buyers and sellers of businesses?
Tax planning is always a good idea, but this year it is especially critical. With the Tax Cuts and Jobs Act (TCJA) making sweeping changes that impact virtually every taxpayer, and looming additional legislative action following the mid-term elections, new strategies should be considered to maximize your tax savings.
Starting a new job is exciting, but it can also be stressful, especially when it comes to transitioning your benefits package. I've put together a list of tips to help make this transition as seamless as possible and keep your financial plan on track.
Almost all businesses have employees who incur expenses while on the job—everything from office supplies, to travel and business dinners. But not all business owners are sure how to best handle the reimbursement of these expenses. We frequently get questions from our clients on this subject—should reimbursements be included in the employee's income? Are they tax deductible?
In order for an expense to be tax deductible to the business, and received tax-free by the employee, it must be reimbursed under an "accountable plan".
Is your business taking advantage of all of the tax credits available to you? There are tax credits available at both the federal and state level that are designed to reward employers who hire certain types of employees—for example, workers who, for reasons that are unrelated to their skill set or qualifications, have a hard time gaining employment. By hiring these workers, you are supporting the economy, and you can be rewarded for it!
2018 has certainly been a year of change in the tax world. The most recent change, the U.S. Supreme Court’s ruling in the case of South Dakota vs. Wayfair Inc., has overturned decades of precedent when it comes to the taxation of goods sold by out-of-state sellers.
Wondering what this means for online retailers and other remote sellers? You’re not alone—the Wayfair case is complex, and many are waiting to see how individual states will choose to respond.
The recently passed Tax Cuts + Jobs Act (TCJA) includes changes that impact almost all aspects of the current tax system. Some of these changes will also directly impact the volume of mergers and acquisitions (M+A) we see happening across the country in the near term, as well as the way deals are modeled and negotiated.
