Claiming Casualty Losses After Tax Reform

The southeast coast is no stranger to hurricanes, and this year was no different. Cat-5 Hurricane Dorian made landfall in the Bahamas and eventually made…

New Internet Sales Tax Rules In Effect

Remote sellers and marketplace facilitators, listen up. New internet sales tax rules for online sellers kicked on October 1, 2019, and more than 40 states…

What The New Overtime Regulations Mean for Your Business

It’s been a 4-year discussion that we’ve tracked extensively, and now we finally have some answers: New overtime rules will go into effect January 1,…

10 Tax Issues To Address Before End of 2019

It hit me like a ton of bricks the other day: 2019 is almost over. With just over 100 days left in the year, it’s…

Section 1202: The little-known tax rule that could save you big money when you sell your business.

A little-known tax provision dubbed Section 1202, which we’ve covered before, is getting a lot of attention these days thanks to the Tax Cuts and…

IRS Ramping Up Enforcement of ACA

A caution to business owners to not rest too easy on the Affordable Care Act (ACA/Obamacare): The IRS seems to be suddenly intensifying efforts to…

Investing in Opportunity Zones: The Top 5 Incentives

I came across a great article this week (subscription required) in the Charlotte Business Journal that discussed the different ways the City of Charlotte is…

Supreme Court Issues Ruling on Taxation of Trusts

The Supreme Court issued a huge win for trusts last month, ruling that a trust beneficiary’s residence is not sufficient on its own for a…

Is This The End of Stretch IRAs and Profit Sharing Plans? Understanding the SECURE Act.

In a landslide vote late last month, the House of Representatives voted to approve the SECURE (Setting Every Community Up for Retirement Enhancement) Act.  If…

IRS Relieves Underpayment Penalty For Tax Year 2018

Good news during tax season is welcome news, and the IRS just gave good news to taxpayers who underpaid last year. The IRS announced Friday that…