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July 16 2018
Texas to Hold Back-to-School Sales Tax Holiday, Aug. 10- 12, 2018

Texas will again offer a sales tax holiday before the school year gets underway. In fact, all but one of the states that provided sales tax holidays in 2017 are offering their taxpayers another break this year. Here is what you should know about the 2018 Texas sales tax holiday:   The sales tax holiday

July 10 2018
IRS Announces HSA Contribution Limits for 2019

By Amber Gutschlag Summer is just underway, but before you know it we’ll be watching football, decorating for the holidays and choosing health insurance through annual enrollment.  (One of these things is not like the other!)  As health insurance premiums continue to rise, many individuals and employers are implementing high-deductible health plans (HDHP).  These plans

June 21 2018
Supreme Court Allows States to Require Online Retailers to Collect Sales Tax

For 50 years, the U.S. legal system has barred states from imposing sales tax on purchases their taxpayers make from out-of-state retailers. Today’s Supreme Court ruling in South Dakota v. Wayfair reverses that precedent by allowing states to require internet retailers to collect sales tax. The 5-4 decision in this high-profile case comes after months

June 18 2018
Rising Interest Rates: A Chill for the Commercial Real Estate Market?

After slowly rolling out interest rate increases since the end of 2015, the Federal Reserve announced an increase of one-quarter of a percentage point this March, with at least two more increases expected in 2018. While rates are expected to rise at a modest level, commercial real estate developers, lenders and investors are keeping a

June 11 2018
What to Look for With Contractor Fraud Cases on the Rise

Construction contractors are an integral part of both the residential and commercial construction industry, but fraud among contractors is on the rise. In a recent notable case in Washington DC, a home improvement contractor was found guilty of defrauding customers through a series of bad acts, including but not limited to taking payment from government

June 05 2018
6 IRS Audit Red Flags for Schedule C Form 1040 Filers

By Alexis Lyn Hailpern If you’re running your own business, the sky’s the limit when it comes to generating revenue and attracting new customers. Just be sure while you’re doing so that you’re not also attracting undue notice from the IRS. If you file a Schedule C for income and related business deductions, be aware

May 22 2018
Transforming the Family Office for Greater Digital Efficiency

By Karen Herklotz From managing trusts to overseeing multiple businesses, investments, and properties, the needs of the family office vary widely. However, one thing family offices have in common is the need to create better efficiencies in the way they manage business assets and communicate with one another. What happens when family members and advisors

May 07 2018
Historic Tax Credits for Building Renovations Survive Tax Reform, With Some Changes

By Allan Peiser During deliberation of the Tax Cuts and Jobs Act, tax credits for the renovation of historic buildings faced an uncertain future. Now many real estate industry professionals are relieved that the valuable 20 percent historic tax credit (HTC) was left intact—if slightly altered. By retaining the HTC, Congress recognized that incentivizing the

April 24 2018
Supreme Court to Rule on Digital Sales Tax

Is it Time to Kill Quill? State government leaders are well-acquainted with a 1992 Supreme Court decision that prohibits states from collecting sales tax on vendors lacking an in-state physical presence. The case, Quill Corp v. North Dakota, has triggered arguably the most robust state and local tax-related activity in the last two decades, with

April 17 2018
IRS Halts Offshore Voluntary Disclosure Program

Amnesty to End for Affected Taxpayers with Foreign Financial Assets The IRS has announced it will discontinue its Offshore Voluntary Disclosure Program (OVDP) on Sept. 28, 2018. The program, which was intended as a temporary amnesty program for taxpayers who willfully failed to report foreign financial assets, has existed in some form since 2009. By