UPDATE: States Can Force Online Retailers to Collect Sales Tax
June 28, 2018 | BY Joseph Hoffman
The US Supreme Court overturned over a half century of precedent last Thursday, ruling that a state may reasonably impose sales tax collection obligations on out-of-state retailers with no physical presence in the state based on a certain threshold of in-state sales.
What does this mean for online or out-of-state retailers? (more…)
#statetax #salestax #onlineretailer
Do you know the ABCs of HSAs, FSAs and HRAs?
June 27, 2018 | BY Joseph Hoffman
There continues to be much uncertainty about the Affordable Care Act and how such uncertainty will impact health care costs. So it’s critical to leverage all tax-advantaged ways to fund these expenses, including HSAs, FSAs and HRAs. Here’s how to make sense of this alphabet soup of health care accounts. (more…)
tax - income tax - health care
Choosing the best business entity structure post-TCJA
June 26, 2018 | BY Joseph Hoffman
For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C corporations were taxed at rates as high as 35%. The TCJA also reduced individual income tax rates, which apply to sole proprietorships and pass-through entities, including partnerships, S corporations, and, typically, limited liability companies (LLCs). The top rate, however, dropped only slightly, from 39.6% to 37%. (more…)
#taxbill - #smallbusiness - #taxreform
Consider the tax advantages of investing in qualified small business stock
June 25, 2018 | BY Joseph Hoffman
While the Tax Cuts and Jobs Act (TCJA) reduced most ordinary-income tax rates for individuals, it didn’t change long-term capital gains rates. They remain at 0%, 15% and 20%. (more…)
tax - #smallbusiness - #investment
BREAKING: Supreme Court Rules States Can Force Online Retailers to Collect Sales Tax
June 21, 2018 | BY Joseph Hoffman
Internet retailers can now be required to collect sales and use tax even in states in which they lack a physical presence, after the U.S. Supreme Court overturned a 1992 ruling that enabled much of e-commerce to be a tax-free zone. (more…)
#sales #salestax #onlineretailer