Withum

JANUARY 16, 2024

We are excited to announce that Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR) released a bipartisan tax framework that promotes Main Street businesses, while also providing more financial security to families in need. For the 2023 taxable year, a 179 expense of $1.16

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Tax Tennessee New Jersey Massachusetts 119

Shay CPA

MAY 1, 2024

If you start selling your product or service across state lines, you might need to register with that state and pay sales tax there, for example. In other words, having an employee perform services for your company from their home in that state might be enough to subject you to that state’s tax laws. Usually, the answer is yes.

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CPA Practice

FEBRUARY 6, 2024

State and local taxes, also often referred to as SALT, are one of the most dynamic areas of tax practice, with thousands of jurisdictions across the U.S. imposing increases or newly-created taxes on real or other property. In response to the dismissal of the earlier state lawsuit, Apple Inc.

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Withum

APRIL 11, 2022

Governor Phil Murphy signed the New Jersey Secure Choice Savings Program Act on March 28, 2019, requiring many small to mid-size businesses to offer a retirement plan. New Jersey did create a Secure Choice Savings Program website that should provide more details regarding the program.

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xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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CPA Practice

JANUARY 16, 2024

Senate Finance Chairman Ron Wyden and House Ways and Means Chairman Jason Smith unveiled a roughly $78 billion tax deal Tuesday that would revive a trio of business tax credits, expand the child tax credit and boost low-income housing. aim to pass the tax package before Jan. Wyden, D-Ore., and Smith, R-Mo.,

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Katz,Sapper&Miller

JANUARY 29, 2019

In 2018, New Jersey Gov. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. In 2018, New Jersey Gov. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA).

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CPA Practice

JULY 20, 2023

By Laura Weiss, CQ-Roll Call (TNS) House Republicans opposed to limits on deductions for state and local taxes are making their first stand in a move that could test their newfound power in the GOP conference. Several say no tax bill can get their support unless it allows more state and local tax deductions. New York Rep.

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CPA Practice

AUGUST 21, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. Legal marijuana businesses are an enforcement priority of the IRS.

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CPA Practice

JANUARY 12, 2024

By Caitlin Reilly, CQ-Roll Call (TNS) A bipartisan, bicameral $70 billion tax agreement taking shape on the Hill is drawing mixed reviews, pointing to potential challenges ahead for Senate Finance Chair Ron Wyden and Ways and Means Chairman Jason Smith. said, referring to the child tax credit. “In Thom Tillis, R-N.C.,

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CPA Practice

JANUARY 16, 2024

By Caitlin Reilly, CQ-Roll Call (TNS) Senate Finance Chairman Ron Wyden and House Ways and Means Chairman Jason Smith unveiled a roughly $78 billion tax deal Tuesday that would revive a trio of business tax credits, expand the child tax credit and boost low-income housing. aim to pass the tax package before Jan.

Tax 52

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Withum

MAY 5, 2022

The New Jersey Economic Development Authority (“NJEDA”) announced on May 3, that applications are now open through June 30, for the 2022 Technology Business Tax Certificate Transfer Program, commonly known as the Net Operating Loss (NOL) Program.

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CPA Practice

FEBRUARY 16, 2024

By Caitlin Reilly, CQ-Roll Call (TNS) The House rejected a rule that would provide for floor consideration of a bill to double the cap on state and local tax deductions for married couples earning up to $500,000, striking a blow to legislation championed by blue-state Republicans. Two others—Marc Molinaro of New York and Thomas H.

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New Jersey New York Maryland California 59

CPA Practice

NOVEMBER 6, 2023

Idaho Society of CPAs hosts 2023 tax updates for CPAs The Idaho Society of Certified Public Accountants (ISCPA ) is offering tax updates to CPAs for both personal and business clients. Best Individual Tax Update 2023 , which takes place December 14 from 8:00 AM – 3:45 PM. Those interested can register here.

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inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

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CPA Practice

JUNE 9, 2023

By Laura Weiss, CQ-Roll Call (TNS) The House Ways and Means Committee is preparing to consider a package of tax breaks for individuals and businesses next week, laying out GOP priorities ahead of potential bipartisan tax talks later this year. Ways and Means Chairman Jason Smith, R-Mo., Kevin Hern, R-Okla.,

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Tax New Jersey Maine New York 52

inDinero Accounting

DECEMBER 5, 2023

The Qualified Small Business Exemption (QSBS exemption) can shield up to $10 million, and sometimes more, of stock appreciation from capital gains tax. The rules are complex but worth understanding; there are substantial tax savings to be had by claiming this rare exemption. Table of Contents What is the QSBS Exemption?

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ThomsonReuters

JANUARY 30, 2023

Table of contents: Minimum wage Paid leave Tax credits Unemployment Earned wage access Pay transparency Tipped workers Worker classification State-run retirement plans Work scheduling 1. Both New Jersey ( Assembly Bill 5084 ) and Oregon ( Senate Bill 481 ) are looking to add bereavement as a qualifying reason for their PFMLI programs.

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Withum

MAY 4, 2022

New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET.

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inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. The Delaware Division of Corporations offers electronic (in-person is suspended during the COVID-19 emergency) submission of business entity documents between the hours of 7:45 a.m. Delaware does tax companies.

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ThomsonReuters

OCTOBER 20, 2020

Many companies are discovering that this massive shift in work behavior may also have unforeseen tax implications. While businesses may focus on the potential for new income and activity tax liabilities, they should be aware that indirect tax responsibilities may be affected as well. In 2018, the U.S.

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ThomsonReuters

DECEMBER 14, 2020

The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals. The tax rules and regulations U.S. We’re left to approach tax-filing season with a great deal of uncertainty,” said Melissa Oaks, a Thomson Reuters tax specialist who presented the webinar. Recent Changes.

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