Tag: business tax

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Pass-Through Deduction Details Clarified by IRS/Treasury

Recently, the IRS and Treasury Department issued proposed regulations for a new provision which allows…

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Decoding Economic Nexus: FAQs on the Wayfair Decision

The U.S. Supreme Court’s Wayfair decision issued in June 2018 is one of the most significant changes…

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10 Things to Know About Tax Reform Changes to Deductibility of Executive Compensation

On August 21, the IRS issued Notice 2018-68 to provide further guidance on certain changes…

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Six Questions to Measure Your Wayfair Tax and Compliance Risk

The Wayfair decision means that states are now free to subject businesses to state taxes based on…

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Proposed Bonus Depreciation Regulations Enacted by Tax Reform

The new regulations were published in the Federal Register on August 8, and address such…

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Proposed Regulations Under Section 168(K): Impact to Partnerships and Partners

The proposed regulations affect taxpayers who deduct depreciation for qualified property acquired and placed in…

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New Automatic Changes for Small Businesses Meeting the $25 Million Gross Receipts Test

On August 3, 2018, the IRS released Rev. Proc. 2018-40, which provides procedural guidance by…

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Final Regulations Published for Centralized Partnership Audit Regime

Starting with tax years that begin after December 31, 2017 (i.e. 2018 tax years), partnership…

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Net Operating Losses (NOLs) In the Wake of Tax Reform

Previously, business’s net operating losses could be carried back two (2) years and carried forward…

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The State Income Tax Consequences of Wayfair
The State Income Tax Consequences of Wayfair

While the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc. directly affects the state and local…

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