Final Rules Limit Charitable Contributions Made for SALT Credits

The IRS has issued final regulations that require taxpayers to reduce the amount of any charitable contribution deduction by the amount of any state and local tax (SALT) credit they receive or expect to receive in return. The rules are aimed at preventing taxpayers from getting around the SALT deduction limits. A safe harbor has also been...

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Guidance on Corporation Net Income Tax Treatment of The Business Interest Expense Limitation

Summary

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Out-of-State Sales Tax Compliance is a New Fact of Life for Small Businesses

Written by Monte Anderson, CPA, MAc

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What Contractors Need to Know About the PA BME Exemption

Written By: Monte Anderson, CPA
 
INTRODUCTION A construction contract is a written or oral agreement for the construction, reconstruction, remodeling, renovation or repair of real estate, whereby a contractor permanently attaches or affixes tangible personal property to real estate. Typically, a construction contractor will pay sales or...
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MANUFACTURERS AREN'T IMMUNE FROM WAYFAIR'S SALES TAX IMPACT

BACKGROUND ON SOUTH DAKOTA VS. WAYFAIREarlier this summer, the U.S. Supreme Court ruled in the landmark case South Dakota vs. Wayfair that the “physical presence test” for determining if a seller is required to administer sales taxes is “incorrect.” States may now legally require sellers to administer sales taxes, even if the seller has no...

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How to Apply for a Second PA Withholding Tax Account

As of January 22, 2019 these instructions no longer apply.

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U.S. House Passes Mobile Workforce Tax Simplification Bill

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Where does your business have income tax nexus?

The onslaught of modern day technology has made the world as we know it a much smaller place.  As a result, even small businesses are routinely conducting business activities across state and even international borders.  Other small businesses are planning to expand their product and service offerings into new state jurisdictions, as a way to grow...

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New Repair Regulations

Are you prepared for the final tangible property repair regulations?

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