Taxes
Washington Court Upholds B&O Tax Sourcing for Wholesale Drop Shipments
Summary: For business and occupation tax purposes, the Washington Court of Appeals agreed with the Department of Revenue that wholesale…
Massachusetts Unveils New Real Estate Withholding Tax on High-Value Property Transfers
Summary: Massachusetts enacted a new regulation that imposes a withholding tax obligation on certain sales of real estate by nonresident…
From Customs to Checkout: How Do Tariffs Impact Sales and Use Tax Compliance?
Summary: With U.S. tariff policy rapidly evolving, one important state tax question must be answered: what are the sales and…
Partnership Basis: What Is It & How Does It Work?
Summary: A fundamental understanding of partnership basis and tracking is crucial to making the best business decisions. The positions taken…
The Latest IRS Guidance on Section 174
Summary: The IRS’s Rev. Proc. 2025-28 provides procedures for taxpayers to apply the new rules for §174 costs introduced by…
New IRS Electronic Payment Mandate Impacts FIRPTA Transactions
Executive Order 14247, signed by President Trump on March 25, 2025, requires that all payments to and from the United…
The OBBB and ERC Audit Risk: Three Steps to Defending Your Claim
Summary: The OBBB Act significantly impacts the Employee Retention Credit (ERC) program, retroactively invalidating certain ERC claims and extending the…
Demystifying Partnership Taxation: What it Truly Means to be a Partner
Summary: Partnerships require an understanding of the key structures, whether GPs, LPs, LLPs, or LLCs, each come with unique management,…
Adapting to the OBBB: A Strategic Roadmap for Nonprofits
Summary: The One Big Beautiful Bill introduced new tax provisions that will reshape the nonprofit landscape, requiring strategic adjustments in…
OBBB Act and Section 174: To Amend or Not to Amend
Summary: The One Big Beautiful Bill (OBBB) Act returned immediate deductions of domestic R&D costs, and it also gave small…