State and local tax (SALT) obligations aren’t always obvious. Many business owners we encounter have never thought about the possibility of having to pay taxes in another state. “But my [...]
The Internal Revenue Service (IRS) issued guidance on Wednesday to reaffirm that taxpayers can still deduct 50% of their food and beverage expenditures for business meals related to operations. The [...]
Think you know everything about the new tax laws? Think again! Because while the Tax Cuts and Jobs Act passed back in December 2017, over the subsequent months the IRS released [...]
Great news for Realtors— the Internal Revenue Service (IRS) has clarified that among other professionals, real estate professionals are eligible for the new 20% pass-through deduction introduced by 2017’s Tax [...]
What is FIRPTA withholding? The acronym stands for the Foreign Investment in Real Property Tax Act and is used to describe withholding of tax on the sale of real estate [...]
In a move to protect donor privacy and ease reporting burdens, the Treasury Department and the IRS announced on July 16 that certain nonprofit organizations no longer have to report [...]