Corporate Tax

The new Trump tax law provides many benefits for businesses and taxpayers

Businesses Section 199A (Qualified Business Income Deduction) One of our favorite additions! When calculating the “Pass Through Deduction” if your taxable income (line 43 on your 1040) is less than $315,000 married filing joint or $157,500 for other filers you automatically get the 20% deduction of Qualified Business Income (QBI).Once your taxable income exceeds these …

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Noticing sales tax being charged on your internet shopping?

Enactment of the Wayfair decision is coming to fruition as Congress had introduced a bill to phase in online sales tax collection, as per Accounting Today. Wayfair (South Dakota v. Wayfair) is the decision decided by the US Supreme Court giving states the ability to collect sales tax on internet sales although the vendor may …

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IRS Provides Tax Relief for Hurricane Florence Victims

The aftermath of Hurricane Florence has left many with no power, flooding, and devastating damage to homes and entire towns throughout the Carolina’s. As victims work to recover from the damage, the IRS has granted those affected with an additional extension to file their tax returns and make certain tax payments. What are the terms …

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IRS Correspondence? No problem. We get the job done!

I am pleased to announce we were able to get approximately $40,000 in late filing and late penalties abated for a client, a process which took nearly 18 months. Carefully articulating the circumstances, getting the taxpayer current, and patiently working the IRS, paid off. We have had great success throughout the years handling tax collection …

IRS Correspondence? No problem. We get the job done! Continue reading »

Notice sales tax starting to appear more & more on your Amazon purchase?

States continue to respond to the U.S. Supreme Court’s decision in South Dakota v. Wayfair, which overturned the physical presence standard for sales and use tax nexus. 1 The case centered on South Dakota’s economic nexus law, which imposes sales and use tax collection and remittance duties on out-of-state sellers making more than $100,000 in …

Notice sales tax starting to appear more & more on your Amazon purchase? Continue reading »


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