fbpx

Tax Reform Center

How does the Tax Cuts and Jobs Act affect you?

View All

LLC Members & Self-Employment Taxes

When it comes to self-employment taxes, an LLC member is not necessarily in the same boat as a limited partner. The IRS is cracking down on LLC members who underreport their SE income by erroneously claiming they are similar to a limited partner of a Partnership. Facts and circumstances play a key role in making […]

Learn More

Dissecting the New Business Interest Expense Limitation

By Miranda Aavatsmark Iceberg!  Straight ahead!  Although there are many theories why the unsinkable ship, the Titanic, sank, ultimately the piercing claws of the iceberg underwater was the cause of her untimely fate.  When The Tax Cuts and Jobs Act of 2017 (TCJA) rolled out a new limitation on business interest expense, it appeared, at […]

Learn More

State and Local Resource Center

View All

Kentucky Sales Tax Hits Nonprofit Organizations

Recently, Kentucky House Bill 487 passed, which contained significant changes to Kentucky tax laws. For purposes of this communication, we would like to highlight one major change regarding Kentucky Sales Tax and its effect on nonprofit organizations. This new bill requires that, as of July 1, 2018, organizations charge and collect 6% sales tax on service […]

Learn More

Supreme Court Opens Door To Taxation Of Online Sales And Sales By Out-of-state Companies

The U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state sellers, including ones that deal in online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the high court’s previous rulings on the […]

Learn More