Category: Tax

tax deduction workplace retirement plans
Boost Tax Deductions by Adopting a Workplace Retirement Plan

Employers who could use a federal income tax deduction for 2020 can consider retroactively adopting…

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amended section 174
New Capitalization Requirements for R&E Expenditures

For tax years beginning after 2021, however, all U.S.-based and non-U.S.-based R&E expenditures must be…

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SPACs Tax Treatment Startup Expenses
Tax Treatment of Transaction Costs and Startup Expenses for SPACs

Creating a SPAC is not without expense. Some expenses are incurred pre-IPO, some will be…

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infrastructure package
Senate Approves Infrastructure Bill & Advances Budget Reconciliation Process

The Senate voted to advance a roughly $1 trillion infrastructure package consisting of "Infrastructure One"…

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IRS ERC Guidance
IRS Issues Additional Guidance on the Employee Retention Credit

On August 4, 2021, the IRS issued Notice 2021-49, which provides long overdue guidance for…

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Cryptocurrency Reporting Requirements Update
New Reporting Requirements for Crypto Transactions Included in Senate Infrastructure Bill

The Senate's proposed infrastructure bill would require cryptocurrency exchanges (or brokers) to report transactions to…

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time for Roth IRA conversion
Is It Time to Convert to a Roth IRA?

In this article, our Wealth Management team breaks down the unique differences between traditional IRAs…

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SPAC Tax Treatment
Treatment of Tax Attributes for Special Purpose Acquisition Companies

There are various tax considerations and complexities that can have significant implications both during the…

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SALT Year End Issues
2021 State & Local Tax Year-End Priorities to Consider

From PTE elections to economic nexus reporting, companies should consider these five state and local…

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pass through tax
Proposed Bill Would Modify Tax Deductions for Eligible Owners of Pass-Through Entities

A new bill introduced by Senate Finance Committee Chairman Ron Wyden (D-OR), the Small Business…

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