Category: Tax

R&D Tax Credit FAQs - Small Businesses
R&D Tax Credit FAQs – Small Businesses

We have received several questions related to the federal R&D tax credit and how it…

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Tax Court Decision Addresses Self-Employment Taxes of LLC Members
Tax Court Decision Addresses Self-Employment Taxes of LLC Members

In Vincent J. Castigliola, et ux., et al. v. Commissioner, TC Memo 2017-62, the Tax Court…

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What's the Difference Between a Direct and Indirect Rollover
What’s the Difference Between a Direct and Indirect Rollover?

If you're eligible to receive a taxable distribution from an employer-sponsored retirement plan [like a…

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Corporate Sponsorship Money: Is It Taxable?
Corporate Sponsorship Money: Is It Taxable?

Nonprofits have pursued corporate sponsorships for years, with good reason. Effectively executed, sponsorships can benefit…

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Income Tax Implications: United Kingdom Beginning the Formal Process of Exiting European Union
Income Tax Implications: United Kingdom Beginning the Formal Process of Exiting European Union

The United Kingdom’s (UK) first step in withdrawing from the European Union (EU) may trigger…

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A CPA’s Thoughts on the White House Tax Plan
A CPA’s Thoughts on the White House Tax Plan

The Trump administration unveiled its heavily anticipated tax plan on April 26th. The plan, if…

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Massachusetts Department of Revenue Issues Directive to Adopt a Sales and Use Tax Economic Nexus Rule
Massachusetts Department of Revenue Issues Directive to Adopt a Sales and Use Tax Economic Nexus Rule

On April 3, 2017, Massachusetts became the sixth state to formally adopt an economic nexus…

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New Guidance for R&D Tax Credit Payroll Offset Creates Opportunity for Small Businesses
New Guidance for R&D Tax Credit Payroll Offset Creates Opportunity for Small Businesses

Under the PATH Act of 2015, eligible small businesses may elect to utilize up to…

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Filed an Extension? R&D Tax Credit Benefits Still Available to Eligible Small Businesses
Filed an Extension? R&D Tax Credit Benefits Still Available to Eligible Small Businesses

Did your small business recently file an extension for its 2016 income tax return? If…

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Final Regulations Issued Conforming REIT Built-in-Gain Recognition Period to Five Year Recognition Period, Applicable to S Corporations