Shay CPA

JULY 16, 2025

Over the last 20 years of being an accountant, I’ve opened my fair share of mail to find tax notices so daunting they could wake you in cold sweat. These letters—from federal, state, or city agencies—might demand income tax, franchise tax, sales tax, unemployment insurance, or workers’ compensation.

Delaware

CPA Practice

JULY 25, 2025

Section 1202 provides for a substantial exclusion of gain from federal income taxes when stockholders sell qualified small business stock (QSBS). [1] 2] Stock issued by an S corporation can never qualify as QSBS, even if such S corporation subsequently converts to be classified as a C corporation for federal income tax purposes. [3]

income tax

Shay CPA

DECEMBER 7, 2022

Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts. State franchise and income tax accounts. File away R&D tax credit and pandemic aid documentation. Workers’ compensation. New Jersey.

tax accountant

Shay CPA

JANUARY 17, 2024

ASAP: Check state deadlines While a lot of states follow the IRS’s lead and require tax filings by mid-April, not all do. Usually, there’s not a ton of deviation from the IRS’s date — Iowa requires corporate income taxes by April 30, for example. You still need to pay any taxes you owe by April 15.

Delaware

Cherry Bekaert

MAY 27, 2024

The new law applies to income tax years beginning after December 31, 2023. The act provides tax incentives for developers who take on the challenge of restoring and repurposing these buildings, breathing new life into communities and stimulating economic growth.

South Carolina

Shay CPA

OCTOBER 21, 2024

If you set up your corporation in Delaware, for example, but you have a New York location, you can still qualify. By certifying as a QETC, your business income tax rate is 0.04875 versus 0.0725, which is a considerable saving.

New York

Shay CPA

MAY 14, 2025

How QSBS Works and Why It Appeals to Tech Founders QSBS provides a compelling incentive for investors and founders of small businesses by allowing them to exclude up to $10 million or 10 times their adjusted basis in the stock from federal income tax.

CPA