Joining states such as Connecticut, Louisiana, New Jersey, Oklahoma and Wisconsin, Maryland has enacted an elective pass-through entity tax to circumvent the $10,000 cap for the federal state and local tax deductions. While the IRS rendered other state and local tax workarounds ineffective, such...
Read MoreAs states continue to offer tax return filing, payment deferrals and other assistance measures in light of the COVID-19 pandemic, we take a closer look at Wisconsin.Learn more about relief efforts identified in other states in which our firm is located in our easy-to-use spreadsheet trackerState...
Read MoreOver the past several weeks, there has been a significant shift from working in the office to working from home as businesses and employees comply with "stay at home" orders across the country. However, businesses that have employees teleworking outside the office could be creating a...
Read MoreAs states continue to offer tax return filing, payment deferrals and other assistance measures in light of the COVID-19 pandemic, we take a closer look at Illinois.Learn more about relief efforts identified in other states in which our firm is located in our easy-to-use spreadsheet trackerChicago...
Read MoreIn light of the COVID-19 pandemic, states continue to offer tax return filing and payment deferrals as well as other assistance measures, including employee retention and loan/financial assistance programs. Below highlights Pennsylvania’s efforts. To learn more about relief efforts...
Read MoreIn light of the COVID-19 pandemic, nearly every state is offering tax return filing and payment deferrals. In addition, federal, state and local authorities are offering business and their employees numerous assistance measures, including employee retention and loan/financial assistance programs,...
Read MoreAs always, there is a lot going on in the tax world that impacts businesses and their owners, this year in particular due to the Tax Cuts and Jobs Act. It was my privilege to again serve as editor of the AICPA’s Tax Adviser August Tax Clinic, a special section in the professional journal...
Read MoreOn Thursday, July 18, 2019, Governor Mike DeWine signed Am. Sub. House Bill 166 into law, which brought to close a longer than expected budgeting process. Below is a summary of the more significant changes that will impact Ohio taxpayers.1. Individual Income Tax ReductionsOhio income tax has been...
Read MoreH.B. 7424, signed by Governor Lamont on June 26, 2019, has made numerous tax law changes for those doing business in Connecticut. Key changes relate to the:Reduction of the pass-through entity tax credit,Extension of the 10% corporate surcharge and phase out of the capital stock tax,Expansion of...
Read MoreWith the passage of House Bill 3427 on May 16, 2019, Oregon is expected to implement a corporate gross receipts tax — or commercial activity tax (CAT) — that will apply to all individuals doing business in Oregon. Set up to fund education, the program will not affect exempt entities...
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