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Articles and News
Second Round of PPP
The Second Round of Paycheck Protection Program loans is available to help individuals and businesses affected by COVID.
Business Taxes Now and After the Election
Tax Changes for Businesses under President Biden
Non-Qualified Stock Options-Private Companies
Taxation of non-qualified stock options of private companies
SBA PPP Loans-Funding and The Self-Employed
COVID-19 SBA Paycheck Protection Loans for the Self-Employed
Summary of The Trust Fund Recovery Penalty
Summary and computation of Trust Fund Recovery Penalty
Tax Deductions for Business Owners
The 20% deduction for pass-through entity owners and planning strategies.
Tax Reform for Businesses
The recently enacted tax reform bill has made significant changes to the taxation of business. This post summarizes some of the more substantial changes.
IRS Tax on Employer Owned Life Insurance
Employer-owned life insurance policies issued after August 17, 2016 are subject to taxation by the IRS unless they qualify for an exception.
Alabama Sales Tax and Online Companies
More and more consumers are buying all kinds of stuff online--over the internet from companies such as Amazon. Many of these sales transactions occur without the payment of sales taxes, as the selling company likely has no physical presence in the state of the purchaser. Many brick-and-mortar companies argued that they were at a disadvantage as they were forced to compel customers to pay more (often times 8% or more) to cover the state sales tax.
Proposed Retirement Plan Changes
Proposed changes to Retirement Plans. The coming federal budget will include a few changes to retirement accounts, including a new retirement plan called the myRA.
Obamacare's "Cadillac Tax"
The "Cadillac Tax" is a 40% penalty (excise tax) on health insurance plans and a provision of Obamacare that takes effect on January 1, 2018. On that date, employers who provide insurance plans will get hit with a 40% excise tax on insurance premiums above $10,200 for an individual or $27,500 for a family plan. It is estimated that in 8-10 years most health insurance plans offered by employers will be subject to the tax.
Alabama Sales Tax on Successor
Most states maintain some sort of successor liability provision in their tax statutes.
LLC/Partnership--Profits Interest vs. Capital Interest
Partnerships can grant profits interests or capital interests for services. LLCs taxed as partnerships are proliferating.