New Tax Exemption Looks to Attract Regenerative Manufacturing Businesses to NH

August 20, 2018

With recent advances in bio-technology, particularly significant breakthroughs in cell biology, bio-fabrication, and materials sciences, one cannot help but feel excited for a not-so-distant future where medical practice might use engineered tissue and cells in treatment, diagnosis, or cure of medical issues.

Should Your Business Be a C Corporation or a Pass-Through Entity?

August 16, 2018

Should Your Business Be a C Corporation or a Pass-Through Entity? The Tax Cuts and Jobs Act (TCJA) introduced a flat 21% federal income tax rate for C corporations for tax years beginning in 2018 and beyond. Under prior law, profitable C corporations paid up to 35%. This change has caused many business owners to ask: What’s the optimal choice of entity for my start-up business?

Sales Tax: Supreme Court Ruling Affects Retailers and Consumers

July 10, 2018

On June 21, the U.S. Supreme Court issued a ruling overturning a 1992 precedent that had barred states from requiring online retailers without a “physical presence” there to collect sales taxes. The ruling is expected to hurt online retailers and help brick-and-mortar stores. Going forward, this decision will present numerous challenges to businesses of all sizes that sell products online.

Federal Tax News – June

June 30, 2018

1. Taxpayer denied home office deductions for storage in his garage.
2. Court allows advertising deductions but limits other write-offs.
3. Disabled veterans may be due a tax refund.
4. The IRS is offering tips for people partaking in the “sharing economy.”
5. Worker is an employee, not an independent contractor.

Category: Tax

Federal Tax News – May

May 17, 2018

1. Want to check out a nonprofit group before donating?
2. IRS issues 2019 Health Savings Account figures.
3. Court: Ranching activities weren’t engaged in for profit.
4. Is money left in a tip box subject to FICA tax?
5. Rejected offer in compromise is upheld.