Cherry Bekaert

MARCH 27, 2024

A Delaware Statutory Trust (DST) is a real estate investment vehicle structured as a separate legal entity. They are treated like direct property ownership for tax purposes, which meet the requirements of like-kind property and qualify as replacement property for a Sec. 1031 exchange. 3801 et seq.

Delaware 98

Delaware Real Estate Legal accounting standards 98

TaxConnex

JULY 30, 2024

Sales tax isn’t simple. Here’s a step-by-step overview of various complications of sales tax compliance – and how to handle them. Then came 2018’s South Dakota vs. Additional complexities: The five NOMAD states – New Hampshire, Oregon, Montana, Alaska and Delaware – do not have a statewide sales tax.

South Dakota 264

South Dakota Alaska New Hampshire Montana 264

Shay CPA

FEBRUARY 8, 2023

The Delaware Annual Filing is due on March 1st, just 3 weeks away. So make sure to be on the lookout for an email from your registered agent in Delaware. You will need your file number, which you can find on your articles of incorporation or by conducting a simple search on Delaware’s Division of Corporation website.

Delaware 13

Delaware CPA Maine Tax 13

TaxConnex

MAY 23, 2023

Last time we looked at a sample of the strange sales tax laws regarding food, including a sliced bagel in New York. If only that was the only complex category concerning sales tax. Diapers and groceries are taxed in Hawaii, Idaho, Utah, Kansas, Missouri, Oklahoma, Arkansas, Tennessee and Alabama, Mississippi and South Dakota.

South Carolina 130

South Carolina Sales South Dakota Montana 130

inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered The Place to establish your corporate entity. Delaware has more corporate entities than people for a reason. Delaware is incorporation friendly. Delaware does tax companies.

Delaware 58

Delaware Wyoming Nevada Oregon 58

TaxConnex

MAY 2, 2023

Mike Dunleavy is reportedly preparing to introduce a sales tax as part of a long-term budget plan for the state. Five states don’t have a statewide sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware (aka the “NOMAD” states). Vermont was the last state to adopt a sales tax, in 1969.

Alaska 130

Alaska Sales Tax New Hampshire 130

TaxConnex

JANUARY 17, 2023

Online sales could not exist without shipping, and the charges associated with shipping are subject to sales tax in many states. Question is, who has to pay that sales tax these days, and where? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”.

Rhode Island 130

Rhode Island West Virginia Sales Alaska 130

CPA Practice

APRIL 5, 2024

Earlier this week WalletHub released a study that shows which states’ residents have the highest and lowest tax burden , measured as the proportion of total personal income that residents pay toward state and local taxes. The study looks at how much tax the average person is estimated to pay in each state throughout their lifetime.

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

CPA Practice

JUNE 20, 2023

Variety (via TNS) Hunter Biden has been charged with illegally possessing a handgun in 2018 as well as two tax misdemeanors, for failing to file and pay taxes on time in 2017 and 2018, according to a court filing by the U.S. Attorney in Delaware. Clark, in a statement shared with Variety.

Delaware 98

Delaware Tax Entertainment New York 98

CPA Practice

FEBRUARY 13, 2023

Regardless of the reason for wanting to unload property, they all likely have one common goal – to protect as much of their wealth as possible when they sell by reducing the taxes due when they sell an investment property. So each time your client conducts a 1031 exchange, they’re locking in value and deferring taxes.

Real Estate 126

Real Estate Delaware Tax income tax 126

Withum

DECEMBER 7, 2023

On November 28, 2023, the Tax Court ruled that the exception from self-employment tax for limited partners does not apply to limited partners who actively participate in the partnership’s business operations. It concluded that their level of participation was inconsistent with an exception from self-employment tax.

Tax 121

Tax Delaware tax services audit 121

Cherry Bekaert

MAY 6, 2024

Whether you own residential or commercial property(s), selling your real estate can be a complex process, especially when it comes to tax implications and deferral options. By deferring capital gains taxes, sellers can potentially reduce their tax burden and reinvest in new opportunities.

Real Estate 96

Real Estate Delaware Tax tax return 96

CPA Practice

FEBRUARY 6, 2024

State and local taxes, also often referred to as SALT, are one of the most dynamic areas of tax practice, with thousands of jurisdictions across the U.S. imposing increases or newly-created taxes on real or other property. In response to the dismissal of the earlier state lawsuit, Apple Inc.

South Dakota 124

South Dakota Maryland Tax income tax 124

inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Why Do So Many Companies Incorporate in Delaware? Does Delaware Have Sales Tax?

Delaware 52

Delaware Nevada Sales Oregon 52

TaxConnex

JUNE 6, 2023

It also offers complex sales tax obligations you may not know about. If you sell in Europe, you know about the value-added tax (VAT) on online sales, which is applied at each stage of the supply chain and with rates generally applied at a country level and exceptions on certain products. has taxes on sales too – a lot of them.

Sales 130

Sales Tax South Dakota Alaska 130

Shay CPA

FEBRUARY 8, 2024

Every corporation incorporated in the State of Delaware is required to file an Annual Franchise Tax Report and pay the associated franchise taxes. The purpose of this tax is to maintain the corporation’s good standing status within the state.

Delaware 52

Delaware Tax CPA accounting and finance 52

CPA Practice

AUGUST 25, 2024

Yet some states still haven’t clearly defined how sales and use tax applies to digital goods and services. To help you better understand digital products sales tax, this blog will explain: How do you define digital products for sales tax? How do you figure out sales tax on digital products by state?

West Virginia 130

West Virginia Rhode Island South Carolina Tax 130

TaxConnex

DECEMBER 1, 2022

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee. Back to court.

Sales 130

Sales Tax Alaska Louisiana 130

TaxConnex

MAY 11, 2023

A state has not added a statewide sales tax since Richard Nixon was in the White House. There are five remaining states with no state level sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware – often referred to as the NOMAD states. There are excise taxes on certain services.

Montana 130

Montana Alaska New Hampshire Oregon 130

CPA Practice

MARCH 21, 2024

Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended, does not automatically apply to all limited partners in a state law limited partnership. Soroban GP challenged this increase in Tax Court. By Julie M. At the end of 2023, the U.S.

Tax 122

Tax Delaware tax return accounting and finance 122

Withum

FEBRUARY 26, 2024

In this release of Venture To Know we discuss structuring and the most common fund structures and entity types from a tax perspective. For tax purposes, all entities are generally classified as partnerships. Usually, LLCs are taxed as partnerships. Consequently, it becomes mandatory to file a partnership tax return.

Delaware 105

Delaware tax return CPA income tax 105

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 105

Rhode Island Alaska New Hampshire Tax 105

CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

CPA Practice

APRIL 3, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 111

Rhode Island Alaska New Hampshire Tax 111

CPA Practice

MAY 3, 2023

Fernandez, Kiplinger Consumer News Service (TNS) For investors looking for a way to defer capital gains taxes when selling a real estate investment property, there are a variety of strategies to leverage depending on circumstances. Both of these strategies allow investors to defer capital gains taxes on the sale of their real estate.

Real Estate 124

Real Estate Tax Delaware Washington 124

CPA Practice

OCTOBER 9, 2024

Maine governor Janet Mills wanted to get rid of the red tape that separates many Down East nonprofits from sales tax exemptions. Which nonprofits are currently exempt from Maine sales tax? Such entities no longer need to pay the state sales tax on items purchased as part of their mission. What is a blanket exemption?

Maine 115

Maine Sales Tax Texas 115

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

DECEMBER 4, 2024

Founded in 2017, BGA&F is a full-service accounting firm that provides a range of audit, accounting, tax, business planning, management consulting, and municipal services to organizations in such sectors as real estate, healthcare, hospitality, and manufacturing. Howe & Co.’s Howe & Co. Howe & Co.,”

Delaware 52

Delaware Real Estate Management Consulting Hospitality 52

Withum

MARCH 23, 2021

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Delaware 52

Delaware Tax 52

CPA Practice

OCTOBER 30, 2024

The merger is expected to close on December 1, 2024, when all employees of the Delaware-based CPA firm will join The Bonadio Group and C&R will begin to operate under The Bonadio Group brand. Its primary clientele includes businesses, nonprofits, families, and individuals.

CPA 52

CPA Delaware cpa firm New York 52

Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

payroll tax 98

payroll tax payroll Rhode Island South Dakota 98

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? What is excise tax? What is VAT tax? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels.

Sales 98

Sales Tax Michigan Washington 98

CPA Practice

APRIL 10, 2023

Still, whatever discomfort I experience when booking a room has nothing on what lodging platforms have to endure to comply with the multitude of lodging tax requirements in the United States. We talk a lot about how complicated sales tax compliance is at the Avalara Tax Desk, and it is. Sometimes you just have to go with it.

Tax 85

Tax West Virginia Wisconsin Virginia 85

CPA Practice

JUNE 23, 2023

Fernandez, Kiplinger Consumer News Service (TNS) In the context of a 1031 exchange, “boot” refers to the portion of a transaction that doesn’t meet the tax-free criteria and thus becomes subject to immediate capital gains tax. State-level taxes are possible as well, based on an investor’s location.

Delaware 122

Delaware Real Estate Tax income tax 122

PYMNTS

JANUARY 10, 2018

Stripe has announced an addition to its Stripe Atlas toolkit that will help founders file their corporate tax returns in minutes. This new tool can be especially important for resource-strapped startups, which often have difficulty with the tax process even with the help of an adviser. In addition, the recent U.S.

tax return 67

tax return Tax Delaware corporation tax 67

CPA Practice

JULY 8, 2024

Kowalsky Joins CohnReznick as Government and Public Sector Advisory Principal CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, recently announced that Ted Kowalsky is joining the firm as a Principal in its Government and Public Sector Advisory practice.

Delaware 101

Delaware audit Entertainment Healthcare 101

Withum

FEBRUARY 27, 2024

When it comes to sports betting, taxes play a crucial role in shaping the industry. Each state has its own approach to taxing sports betting revenue for operators, resulting in a diverse landscape. The state levies a tax rate of 36% on sports betting revenue. billion since legalization in January 2022.

Sports 59

Sports Delaware Vermont Tennessee 59