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Sales Tax Treatment of a Single Offering Containing Multiple Products/Services
As traditional products such as software move to a more service-based approach through hosted environments, it is increasingly difficult to…
Physical Fitness is Taxing: Washington Issues Guidance Distinguishing Fitness from Instruction
Subtle distinctions in a service can cause its classification for sales and use tax purposes to change, as one fitness…
Best Internal Control Practices for Schools
Schools are the perfect places to find new opportunities and challenges at every turn. Furthermore, the next challenge your institution…
Colorado Rules that Foreign Company Had Nexus Due to Consignment
Foreign companies that structure their U.S. business to avoid creating a permanent establishment in the U.S. may still be subject…
Nebraska Refuses to Apply Sham Transaction to Deny Special Capital Gains Exclusion
Nebraska ruled that a taxpayer’s transactions to meet the requirements of a special capital gains exclusion were legal. By Jeff…
Washington: Taxpayer Must Charge Sales Tax on Entire Charge for Taxable and Non-Taxable Services
A recent Washington tax determination illustrates the impact invoicing can have on the taxability of products and services. By Jess…
Arizona Explains Who is Responsible for Tax Collection for Online Marketplace Transactions
An Arizona tax ruling states that an online marketplace is responsible for the state’s Transaction Privilege Tax if it provides…
New York Issues Advisory Opinion Pertaining to Personal Exclusion for Taxable Information Services
A recent New York Advisory Opinion examines whether certain information services qualify as exempt from sales and use tax. By…
GSA Schedule and OASIS Digital Tool Series – Market Research, Pricing, and Opportunities
GSA’s Professional Services Category created six short, informational videos about the Acquisition Gateway and a range of digital tools including:
Who Gets a Form 1099 and When are They Due?
As the year draws to an end, many business owners face the challenge of determining which of their vendors will…
UPDATE: U.S. Supreme Court Refuses to Hear Colorado Use Tax Reporting Case
On Dec. 12, 2016, the U.S. Supreme Court ended almost five years of litigation over Colorado’s use tax reporting law…
Private Schools: Accounting for Delinquent Accounts
Even schools with the most stringent of tuition policies can find themselves dealing with delinquent accounts. So, how do you…
Tennessee Sales Tax Rule Continues Economic Nexus Trend
This article was co-authored by Paul A. Zee-Cheng. On October 3, 2016, Tennessee issued a proposed rule making it the third…
Ohio Supreme Court Upholds the Factor Presence Nexus Rules for the Commercial Activity Tax
The Ohio Supreme Court has determined that a physical presence is not a necessary condition to levy a business privilege…
Deadline for ACA Reporting Extended
On November 18, 2016, the IRS announced (Notice 2016-70) that the deadline for 2016 reporting requirements under Sections 6055 and…
Four Things to Consider Before Switching to a SaaS Business Model
If your software business is considering a switch to SaaS, here are some financial considerations to take into account before…
IRS Issues Final R&D Tax Credit Regulations for Internal Use Software
New regulations may help companies take advantage of this credit where they were previously unable to. By Carli McDonald, director…
Long-Term Lease? Are You Accounting for It Properly? Part II
Process: Why should I care if I use cash basis accounting? First and foremost, it is important to outline that…
Colorado Issues Guidance on Application of Factor Presence Nexus Rules
A taxpayer may have nexus in Colorado if more than $500,000 of its sales are sourced to the state, even…
Florida Concludes that Consolidated Group Ceases to Exist Upon Acquisition
Consolidated groups may be required to deconsolidate and file separate returns under certain circumstances, including transactions such as acquisitions and…
Georgia Enacts New Tax Credit for Donations to Rural Hospitals
Georgia’s new Qualified Rural Hospital Organization Expense Tax Credit offers taxpayers a credit for up to 70 percent of their…
Washington Reminds Taxpayers that Transferring Equity Interests Can Result in Real Estate Transfer Tax
Some states apply real estate transfer tax to the sale of a controlling equity interest in an entity that owns…
The Importance of Understanding § 467 Leases
Regardless of the work you do or industry you serve, there is a strong chance that rent makes up a…
Treasury Issues Regulations that Discourage Tax Inversions
Controversial regulations restrict earnings stripping REGULATIONS DISTINGUISH BETWEEN DEBT AND EQUITY On Oct. 13, 2016, the U.S. Department of Treasury…
How Do I Account for Cloud Computing?
On April 15, 2015, the FASB issued ASU 2015-05 focusing on customer’s accounting for internal-use software especially fees paid in…
What Is a Joint Activity?
A joint activity is the combination of fundraising and another function incorporated into a single activity. When accounting for joint…
Why Transactional Data Reporting Will Likely Cost Most GSA Schedule Holders More than the Price Reduction Clause
On June 23, 2016, the General Services Administration (GSA) released the final rule launching its highly anticipated – and controversial –…
Approval Period for 2014 Angel Credit Investments Ends Oct. 31, 2016
The Georgia qualified investor tax credit, or Angel Investor Credit, became available to investors in early-stage Georgia startup companies beginning…
Reminder: IRS Changes Filing Due Dates, including Information Returns
As the year comes to an end, start planning for the new income, payroll and information return due dates now….
The Definition of Marriage According to the Treasury
In 2013, the Supreme Court struck down Section Three of the Defense of Marriage Act, which paved the way for…
Mandatory ITIN Renewal
Important changes coming in October – If you are a taxpayer with an Individual Taxpayer Identification Number (ITIN), there is an…
Proposed Regulations May Signal the End of Certain Valuation Discounts
New proposed regulations will have a severe impact on estate, gift and generation-skipping tax planning and could be made permanent…
Day Trader? What You Need to Know
Individuals trading securities have great incentive to classify themselves as traders. By default, buying and selling publicly traded securities is…
U.S. Treasury Issues New Proposed FBAR Rules
The U.S. Treasury has issued proposed regulations governing the filing of U.S. Foreign Bank Account Reports (FBAR). The new rules…
Is Your Purchasing System Compliant for the Alliant 2 RFP?
In late June 2016, the highly coveted Alliant 2 SB RFP was released and within the 174 page document, there…
IRA Investment: Income Tax Surprise
At a glance Main takeaway: It’s not difficult to come by a traditional retirement plan, however, it’s not as common…
Pennsylvania Sales Tax Goes Digital
Effective August 1, 2016, Pennsylvania’s sales tax will be imposed on the sale of digital products. Thus, sellers of digital…
GSA Moves Forward with the Implementation of the new Formatted Product Tool (FPT)
The Formatted Product Tool (FPT) has been established to assist GSA contracting officers in their evaluation and negotiation of all…
A Welcome Break on the Fee for 1023-EZ Application for Tax Exempt Status
Effective July 1, 2016, the application fee for filing the Form 1023EZ has been lowered to $275. The old fee…
Section 199: Domestic Production Activities Deduction, What Counts?
“Big Time Construction Corporation” made a significant profit this year resulting in higher taxable income than expected. Therefore, Big Time…
Using a “Back Door Roth” IRA? Be Mindful of the IRA Aggregation Rule
As many of you know, the concept of a “back door Roth” IRA is relatively simple. It allows taxpayers with…
Additional Extension: Work Opportunity Tax Credit
On June 17, 2016, the IRS issued Notice 2016-40, which extends the transition relief period for employers claiming the Work…
The R&D Tax Credit & You – How Recent Changes Could Translate into Money in the Bank
By Carli McDonald, partner-in-charge of R&D Tax Credit Services Necessity may be the mother of invention, but America’s businesses are…
Brexit and Your Taxes
By Mitchell Kopelman, partner-in-charge, Tax practice, Technology and Biosciences group As a result of the voters in the UK deciding…
From the GSA Trenches: Schedule Sales Reporting Issues
Contractors holding GSA Multiple Award Schedule (MAS) contracts are required to report quarterly all contract sales, and remit 0.75 percent…
“Flexible” South Carolina Ruling Creates Sourcing Uncertainties
On May 20, 2016, an Administrative Law Court decision in South Carolina resulted in the two things that taxpayers try…
The Changing Face of Bequest Demographics
One of the more interesting studies I have seen in recent years was one done by Russell N James III,…