Posted on May 07, 2025
by
Jeremy Katz
In a recent decision by the New York State Court of Appeals, an advertising research firm is liable for $2.3 million in unpaid sales tax for information services it provided to its customers over a three-year period. According to the court, Dynamic Logic Inc. (Dynamic) had erroneously treated one of its information services products as […]
Posted on April 29, 2025
by
Joel Young
The Foreign Investment in Real Property Tax Act (FIRPTA) is a U.S. law enacted in 1980 to ensure foreign owners of U.S. real property interests pay their fair share of federal taxes on the profits they may yield from the eventual sale or disposition of those properties. It requires advanced planning and specific actions by […]
If you are between the ages of 60 and 63 in 2025 or later, there’s good news: you can give your retirement savings a significant boost, thanks to new changes in retirement contribution rules. Historically, the tax laws cap the annual contribution limits to 401(k), 403(b) and other qualified retirement plans. They also provide additional […]
U.S. taxes are based on a pay-as-you-go system, in which individuals either have taxes withheld from their paychecks or make estimated tax payments directly to the IRS four times a year. These quarterly tax payments made every three months typically apply to business owners subject to self-employment tax and to individuals who receive income in […]
Posted on April 10, 2025
by
Luke Lucas
The $10,000 annual cap on state and local tax (SALT) deductions introduced to the tax code in 2017 during President Trump’s first term is set to expire at the end of 2025. That could be good news for top-earning taxpayers in high-tax states, including California, Connecticut, New Jersey and New York, who have had to […]
Posted on April 03, 2025
by
John Ebenger
In this episode Director of Tax Services John Ebenger, CPA, shares the differences between real estate investors and dealers and how each classification impacts taxes.
Posted on April 01, 2025
by
Joel Young
On March 26, 2025, the Financial Crimes Enforcement Network (FinCEN) published an interim final ruling lifting a previous requirement for U.S. companies to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). At the same time, however, the ruling reinforces a reporting requirement for a narrower scope of foreign companies. Domestic entities and […]
U.S. persons, businesses, trusts and estates with 10 percent or more ownership interest or voting control over a foreign business enterprise in fiscal year 2024 have a quinquennial requirement to file a Bureau of Economic Analysis (BEA) Forms BE-10 by May 30 or June 30, 2025, depending on the number of forms they must file. […]
Posted on March 25, 2025
by
Karen Lake
Nexus is a minimum connection businesses have with a particular state that can activate state and local tax (SALT) obligations. Managing SALT compliance can be especially challenging when considering that tax rates, the criteria for creating nexus and the standards for imposing state income, sales and franchise taxes vary widely from one state to the […]
Posted on March 20, 2025
by
Luke Lucas
In this episode, Associate Director of Tax Services Luke Lucas, CPA, shares often overlooked state and local tax issues, deductions and credits.
