Tax treatment of gift cards

As the holiday season approaches, gifts will be bought with increasing frequency. Have you ever considered how gift cards that go unredeemed are viewed by Federal and State taxing authorities? What are the revenue recognition rules and the escheatment standards that companies need to be aware of? Revenue Recognition The timing of recording taxable income …

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Putting the STATE in Estate Taxes

We’ve seen a lot of changes in the state estate tax landscape in the past few years as some states have made major changes to their taxes, while others have repealed theirs entirely. These state taxes should be seriously considered when making estate planning decisions. For starters, only 12 states and the District of Columbia …

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