Considering a Merger or Acquisition?

Posted by Margaret Amsden and Ben Smith on September 20, 2020

Margaret Amsden

The changes that occurred under the 2017 Tax Cuts and Jobs Act (TCJA) continue to impact businesses in multiple ways, and while some of these are favorable, others are not. More recently, the Coronavirus Aid, Relief, and Economic Security (CARES) Act further adjusted some of these rules. Businesses considering a transaction, such as a merger or acquisition, should be sure to discuss the following items.

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Rethinking Your Retirement Funding Options

Posted by Margaret Amsden on September 1, 2020

As a result of market fluctuations over the past six months, many taxpayers have seen a decline in the value of their retirement portfolios, so now may not be the best time to draw from your retirement savings, even if you are eligible. Here is some guidance regarding Social Security and IRA Distributions.

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Payment Processing Delays Due to COVID-19

Posted by Margaret Amsden on August 26, 2020

Taxpayers may unfortunately find that their checks, mailed with tax returns, are on backlog at the IRS due to processing delays as a result of COVID-19. Learn what the IRS is doing about it and discover what you should do as a taxpayer.

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Estate Planning 101

Posted by Margaret Amsden on August 17, 2020

With all of the change in 2020, now is an ideal time to revisit your estate plan. Learn about the essentials of estate planning and why it's important to review and update your plans on a regular basis.

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Three Lessons Learned from the 2020 Tax Season

Posted by Margaret Amsden on July 27, 2020

It goes without saying that this year’s tax season was surprising—to say the least. Here are some of the takeaways from 2020’s tax season, and although we hope it’s an experience we never have to face again, these strategies can improve the process—even in the best of times.

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Debt Restructuring: How Does it Impact Your Taxes?

Posted by Margaret Amsden on June 22, 2020

Throughout the ordinary course of business, you could very well find yourself in a position of insolvency leading to the restructuring of your debt. Dealing with cash flow issues or insolvency can be very stressful and time-sensitive for business owners and taxpayers alike. Learn how debt restructuring impacts your taxes and what to do if you find yourself in this situation.

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Deadlines Extended for Energy-Related Tax Credits

Posted by Margaret Amsden on January 13, 2020

Alternative Fuel Tax Credit (IRC 6427(d)) and Nonbusiness Energy Property (IRC 25C) are two key “extenders” which could impact your 2018 tax return. While further guidance still needs to be published, you should be aware of the implications of these extenders.

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Getting Ready for Year-End Planning

Posted by Margaret Amsden on October 28, 2019

Every year brings a list of information filing requirements necessary to make sure that payees have the information needed to file their taxes. To assist with year-end business reporting, Clayton & McKervey has identified some items for you to consider.

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50% Meals and More: Digesting the Latest TCJA Update

Posted by Margaret Amsden on January 2, 2019

Those planning to discuss business at the next tailgate, or talk shop over eighteen holes with the intention of writing off the expense on this year’s tax return, need to think again. In the IRS’s latest notice on the Tax Cuts and Jobs Act (TCJA), changes to Internal Revenue Code (IRC) Section 274 regarding meals & entertainment, entertainment expenses are strictly off the menu.

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Sales Tax Post Wayfair Case Decision

Posted by Margaret Amsden on August 6, 2018

The imposition of sales tax collection obligations on out-of-state e-commerce companies and sellers using platforms such as Amazon, Inc., even when lacking a physical presence within in a state, upon meeting specific sales thresholds.

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