Blog

Sales Tax Economic Nexus Update

California and DC recently joined 34 other states and passed legislation which will now require out-of-state retailers to collect and remit sales tax if the sales or the number of transactions in the states exceed certain thresholds in the preceding…

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Accounting Standards

The Clock Is Ticking on Adopting New Accounting Standards

It might be human nature to procrastinate. It’s definitely not in most accountants’ natures, however. That’s what makes the findings in a recent MorganFranklin poll about the adoption of new revenue recognition and lease accounting standards so surprising. Most companies…

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Personal Tax Bill

4 Year-End Strategies to Lower Your Personal Tax Bill

Have you thought about your personal tax situation for 2018? In addition to reviewing the adequacy of your payroll withholdings and estimated tax payments, there’s still time to employ some tax-savvy moves that could potentially decrease this year’s tax bill….

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Wayfair

Update on Wayfair Decision

As a result of the United States Supreme Court’s decision in South Dakota v. Wayfair, many states have been scrambling to draft sales tax nexus laws which will effectively eliminate the prior physical presence threshold requirements. A number of states…

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URGENT: If You Have Real Estate in the Northeast Act Now

TODAY, August 27, 2018, is the last day to make contributions to charitable funds that reduce state and local tax liabilities. New regulations will take affect that will limit the charitable deduction. The IRS just released the proposed regulations (REG-112176-18)…

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Nexus Considerations in a Post-Wayfair World

On June 21, 2018, the U.S. Supreme Court issued an opinion in South Dakota v. Wayfair, overturning its earlier precedents in National Bellas Hess and Quill, and eradicating the decades-old “physical presence” requirement for sales and use tax nexus. The…

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Sales Tax Bombshell for Internet Sales

In what is sure to be regarded as a landmark decision for state and local taxation, the United States Supreme Court ruled today that states can levy sales taxes on purchases made through out-of-state online retailers, dealing a heavy blow…

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Before you cash that refund check from the IRS…

Tax season is in full swing and returns are being submitted every day. That means tax refund checks have started to be issued by the IRS. Before you cash that check though you may want to check with your accountant…

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