Posted by Sue Tuson on July 2, 2019
The 2017 Tax Cuts and Jobs Act (TCJA) has made C-Corporation status much more attractive to business owners, and the 21% flat tax rate has caused many to consider whether converting to a C-Corporation may be worth the switch.
Posted by Sue Tuson on May 15, 2018
The US Department of Commerce Bureau of Economic Analysis (BEA) has issued a mandatory survey of select services and intellectual property transactions with foreign persons.
Posted by Sue Tuson on April 24, 2018
The Tax Cuts and Jobs Act created a deduction for Foreign-Derived Intangible Income (FDII). The name of this deduction is misleading, it is actually a deduction against qualifying export income after a routine rate of return.
Posted by Sue Tuson on February 2, 2018
When a taxpayer is notified by the IRS for a tax return audit, the first reaction may be panic or fear. Understanding the audit process …
Posted by Sue Tuson on January 31, 2018
This time of year businesses are busy preparing year-end information returns, including W-2s and 1099s. Often overlooked are the rules regarding withholding and information reporting …
Posted by Sue Tuson on September 8, 2017
The IRS and state governments continue to increase requirements and penalties for information reporting. With these increases, using best practices when keeping records is …
Posted by Sue Tuson on May 25, 2017
The IRS announced 13 audit campaigns last March. Included in the campaign is an effort to increase voluntary compliance for Form 1120-F Non-Filers. Form …
Posted by Sue Tuson on October 25, 2016
As we approach the end of 2016, following are items you should consider with regard to year-end reporting for your business. Forms 1099 Businesses often …
Posted by Sue Tuson on June 21, 2016
In an effort to increase sales and use tax revenues, Michigan has adopted Affiliate Nexus and Click-Through Nexus laws. The Michigan Department of Treasury recently …
Do you have wages or bonuses that were earned by employees or independent contractors but have not been paid to them after year-end? If you …