All articles within Taxation

SECURE ACT CREATES IRA ANXIETY

The SECURE Act, enacted in December as part of the federal government spending bill, contains major revisions to the retirement plan rules. Many changes are beneficial. For example, required minimum distributions (RMDs) can begin at age 72 rather than age 70½ for those born after June 30, 1949. To pay for the changes, the Act.

New Law Aids Buyers’ Sales Tax Inquiries

Purchasing a business involves multiple steps and a tremendous amount of due diligence. One important aspect of due diligence is determining the purchaser’s successor liability for the seller’s unpaid sales and use taxes. The purchaser and seller cannot contract away successor liability. Therefore, it is important that the buyer obtain full disclosure of any outstanding.

Pass-Through Tax Break For Wisconsin

The federal Tax Cut and Jobs Act caps an individual’s deduction for state income taxes and property taxes.  The cap is $10,000.  The change is effective for 2018.  In December, Wisconsin enacted legislation to help owners of S corporations and partnerships get around the cap.  The new law allows a pass- through entity to elect.

Chinese Tariffs – Any Way Around Them?

In today’s global market, virtually all businesses import goods in one form or another, primarily from China. Whether it be the component parts incorporated into final products or the equipment used to create those products, the goods that companies are importing from China are cutting deeper into their pocketbooks at a significantly higher rate under.

Tax Reform Act – A Game Changer For Pass-Through Entities?

Last year’s tax reform significantly modified individual and business tax rates. Major changes for individuals (set to expire December 31, 2025) include a reduction in rates, the roughly doubling of the standard deduction, and the removal of personal exemptions. On the business side, the corporate rate fell (with no expiration date) from 35 percent to.

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