Category: Tax

Tax

Wayfair Decision Imposes New State Tax Burden on Foreign Businesses Selling into the U.S. UPDATED by Karen A. Lake, CPA


Posted on September 24, 2019 by Karen Lake

The U.S. Supreme Court’s 2018 decision in South Dakota v. Wayfair has had far-reaching impact on the state and local sales tax (SALT) obligations and previous competitive advantages of online and foreign businesses that sell products into the U.S. The court’s ruling eliminated the prevailing physical presence test, which required sellers to collect sales tax […]

5 Reasons You Should Not Hold Real Estate in an S Corporation by John G. Ebenger, CPA


Posted on September 04, 2019 by John Ebenger

Savvy investors know that holding real estate in their individual names is a bad idea that exposes them to a broad range of legal risks and personal financial liabilities. Instead, U.S. tax laws permit investors to structure their real estate holdings into separate business entities, such as partnerships, limited liability companies (LLCs) and corporations, which […]

IRS Raises HSA Contribution Limits in 2020 by Adam Cohen, CPA


Posted on July 26, 2019 by Adam Cohen

Taxpayers who participate in high-deductible health insurance plans will be able to save a little more in their Health Savings Accounts (HSAs) in 2020, when contribution limits will increase to $3,550 for individuals or $7,100 for family coverage, up from their 2019 limits of $3,500 and $7,000 respectively. This 1.4 percent increase represents significant benefits […]