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New York State & Local Tax Update: June 2017

Posted 4:00 AM by
Purchases by a business of materials, which were installed as part of capital improvements to real property, were subject to sales and use tax.
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Section 987 Regulations: Terminology Explained

Posted 4:00 AM by
As a follow up to our “Section 987 Regulations: Key Considerations,” this blog post will help define many of the complex terms included within these regulations. The regulations relate to the methods a taxpayer must use to account for fluctuations in the foreign currency exchange rates when they have business operations that are denominated in a functional currency different than their own.
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Trucking Towards State Tax Compliance: Should Your Company Participate in a VDA?

Posted 4:00 AM by
Many companies struggle to determine if they have sufficient activity in a state, or nexus, to force them to file state tax returns. This can be especially difficult for transportation companies and is based largely on the question of whether driving more than a de minimis amount of miles through a state creates a tax filing obligation.
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2017 Indiana Legislative Update

Posted 4:00 AM by
My colleagues often criticize me for what they call my “Dad humor,” or my weakness for a well (or badly) timed pun. I’ll plead guilty as charged, especially as I think about some of the challenges that faced the Indiana General Assembly this past legislative session.
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American Health Care Act Passes House, How Might It Impact You?

Posted 12:16 PM by
On May 4, 2017 the House of Representatives passed the American Health Care Act (AHCA) which effectively repealed the Affordable Care Act (ACA). The final legislation, however, faces an uncertain outlook.
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White House Unveils Proposed Tax Plan

Posted 4:00 AM by
On Wednesday, April 26, Treasury Secretary Steven Mnuchin and Director of the National Economic Council Gary Cohn announced President Trump’s proposed tax plan
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International Tax Issues Update: What You Need to Know

Posted 4:00 AM by
There are a couple of changes related to businesses required to file Form 8938 (when they were previously exempt) and individuals who are not eligible for U.S. Social Security Numbers needing to renew their Individual Taxpayer Identification Number (ITIN) numbers that impact the 2016 filing season.
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Section 987 Regulations: Key Considerations

Posted 4:00 AM by
At long last (after 25 years), on Dec. 7, 2016, the Treasury and Internal Revenue Service (IRS) issued final and temporary regulations under Internal Revenue Code Section 987. These regulations replace the previously proposed 1991 regulations as well as the previously proposed 2006 regulations.
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Indiana Attempts to Clarify Sales Tax Application for SaaS and Cloud-Based Products

Posted 5:00 AM by
The Indiana Department of Revenue recently updated Information Bulletin #8, “Application of Sales Tax to the Sale, Lease, or Use of Computer Hardware, Computer Software, and Digital Goods.”
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Accounting for Fixed Assets: What to Keep Top of Mind

Posted 5:00 AM by
The information included in this update concerns multiple opportunities for deductions and/or acceleration of depreciation – keep it top of mind when accounting for fixed assets.
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