By MarksNelson on October 1, 2018If you’re over 70 you can obtain the same tax benefits for charitable giving even if you don’t itemize. Here’s how.
By MarksNelson on September 14, 2018MarksNelson provides details of how the IRS is responding to creative workarounds by certain states to counteract new SALT deduction limitations.
By MarksNelson on August 16, 2018As part of the Tax Cuts and Jobs Act (the Act), the limitation imposed on the state and local tax (SALT) deduction as part of the Tax Cuts and Jobs Act (TCJA) has wreaked havocs in many states. In fact, four states – Connecticut, New Jersey, New York and Maryland – have determined that the limitation is unconstitutional. On July 17, they filed a lawsuit in federal court that seeks to make the law unenforceable.
By MarksNelson on July 9, 2018The IRS has begun to issue penalty notifications to employers in violation of the Affordable Care Act’s employer mandate for the 2015 tax year.
By MarksNelson on June 27, 2018With conference calls and Web meetings increasingly prevalent, business travel isn’t what it used to be. If your company is still sending employees out on the road or employees incur business expenses on behalf of the company, it is essential to understand the tax ramifications, especially due to recent tax law changes.
By MarksNelson on June 22, 2018For years, consumers have been held responsible for reporting and remitting use tax on purchases where sales tax was not collected. This shifts the burden to the seller to collect the sales tax when the transaction is consummated.
By MarksNelson on June 11, 2018The IRS is planning on issuing guidance to clarify the treatment of state income taxes recharacterized by states as a charitable deduction.
By MarksNelson on May 4, 2018If you own a business or work in a business, chance are that at some point, you’ve engaged in business-related entertainment of some sort. If so, you’ve probably reported those entertainment expenses as deductible on your taxes.
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