Your Guide to State, Local, Federal, Estate + International Taxation

California revises Wayfair sales tax thresholds

The U.S. Supreme Court in 2018 issued a ruling (South Dakota v. Wayfair) which opened the door for states to impose sales tax on internet retailers who sell into a state. Because of this ruling, many states have begun passing laws and issuing regulations based on the Supreme Court decision. California, due to its large …

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Tax planning as newlyweds

You and your fiance planned your wedding and it was a beautiful and memorable event, so congratulations to you both! You can now sit back and enjoy married life while reminiscing about all the fun (and not so fun) times planning your wedding. But, wait, is there something that you may have forgotten to plan …

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Contribution Schedule

An audit for an employee benefit plan, specifically a 401k plan, consists of many different tests and inquiries being performed. One schedule however, is always needed for the audit: a contribution remittance schedule. You might be wondering, “What exactly is a contribution schedule and why is it important enough to discuss in a standalone blog …

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Client service: the good and the bad

All of us, at one time or another, receive bad client service. Some examples may include: Phone calls not being returned, or e-mails responded to timely – if at all. Being unavailable at scheduled times for phone calls with the receptionist instructing you to call back later. Being kept waiting for appointments. A lack of …

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Malware from illegal video streaming apps: what to know

The use of video streaming services has increased significantly over the past few years. Streaming has been made easier through new technology like smart TVs, streaming boxes, and streaming sticks. These devices let you stream through services such as Netflix, Hulu, Sling TV, Amazon Prime, and countless others. Unfortunately, there are some apps that give …

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Leaving your tax practice behind? IRS says, “not so fast”

If you are one of the over 700,000 tax preparers with an IRS PTIN, you are probably familiar with the e-filing process.  A critical part of this process is safeguarding both the Electronic Filing Identification Number (EFIN) used by you to electronically transmit tax returns to the IRS and other e-filing documents. In the QuickAlert …

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What is a Limited Liability Company?

A Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs include benefits of partnership treatment, providing management flexibility and pass-through taxation, including the ability to make special allocations of income and …

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Piles and piles and piles of regulatory correspondence

Confession of a tax professional after tax season: I took some time off. I had a college graduation to attend, and then some fun theme park time. Then there were second quarter estimated tax payments to calculate and relate to clients. The copies of the correspondence from the IRS and the Arizona Department of Revenue …

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California revises Wayfair sales tax thresholds

The U.S. Supreme Court in 2018 issued a ruling (South Dakota v. Wayfair) which opened the door for states to impose sales tax on internet retailers who sell into a state. As a result of this ruling, many states have begun passing laws and issuing regulations based on the Supreme Court decision. California, due to …

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How long do I need to keep my tax records?

You’ve filed your return, but now you have a pile of documents and you are wondering whether you really need to hang on to all of it. And if so, for how long? The answer is that there are some guidelines to follow, but it also depends on the types of documentation that you have. …

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