Tag Archives: law

2017 Tax Reform: Impact to Hotel Industry and the Importance of a Cost Segregation Study

The Tax Cuts and Jobs Act includes provisions for immediate expensing of 100% of qualified property placed in service after Sept. 27, 2017 and before Jan. 1, 2023. As with any law, there are always exceptions, so what does this mean for hotels? Is a hotel considered a real property trade of business?

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IRS Compliance for 2017 ACA Coverage is Needed Despite Earlier Executive Order

In January, President Trump signed an executive order regarding the Affordable Care Act. Many employers hoped that this executive order, along with significant anti-ACA sentiment in Congress, would result in the ACA being repealed. As of today, that has not happened.

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Healthy Choices? Understanding the Tax Implications for Businesses and Individuals of an ACA Repeal

The future of health care is among the most controversial and important issues facing the country. Repealing and/or replacing the Affordable Care Act, will significantly impact many individuals and businesses.

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Is the IC-DISC Going Away?

The IC-DISC has long been a planning tool in the CPA’s toolbox for clients with significant international sales, but with recent tax law proposals, is it going away?

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Will vs. Trust: Is One Better Than the Other?

When it comes to planning your estate, you might be wondering whether you should use a will or a trust (or both). Understanding the similarities and the differences between these two important documents may help you decide which strategy is better for you.

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Ohio Tax Updates: Supreme Court Rulings and Sales Tax Holidays

The Ohio Supreme Court recently decided in Corrigan v. Testa that the state of Ohio cannot tax the gain realized by a non-resident owner’s investment interest in a pass-through entity operating in Ohio. This court case can significantly change Ohio’s current taxing scheme for non-resident owners that own a pass-through entity located in Ohio.

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Drafting Considerations for Attorneys Blog Series – M&A Purchase Price Allocations

Every M&A transaction has some valuation component to it – specifically, determining the purchase/sale price. There are also “hidden” VALUATION issues that need to be addressed by buyers in accounting for an acquisition such as the purchase price allocation and earnouts.

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How Does Sales Tax Impact Your Business?

Similar to state income tax, a business entity must have nexus with a state before it can be required to collect a state’s sales tax. Alaska, Delaware, Montana and Oregon do not have sales tax; though Delaware does have gross receipts tax.

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Tax Extenders Bill Signed Into Law

On December 18, President Obama signed H.R. 2029, the tax and spending bills. The tax portion includes a two-year delay on taxing high-cost “Cadillac” health plans, as well extensions to several renewable energy credits and a tax break for oil refiners, with tax extenders language making permanent or extending dozens of expired business and household tax breaks. Here is what you need to know.

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Drafting Considerations for Attorneys Blog Series – Valuation Structures in Buy-Sell Agreements

The fields of law, accounting and valuation are only continuing to become more complex. Given the overlap in these areas of specialty, it is increasingly important for attorneys to have an understanding of the accounting, tax and valuation effects of the legal agreements they draft. Armed with this knowledge, lawyers can produce the intended outcome for their clients and minimize unintentional consequences and compliance burdens.

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