For half a century, sales tax from interstate commerce abided by two U.S. Supreme Court rulings: National Bellas Hess v. Department of Revenue of Illinois and Quill v. North Dakota. In these cases, the Court concluded that an out-of-state seller must have physical presence in a state before sales tax collection laws could be imposed. …
Successful restaurant companies are a hot commodity in today’s marketplace with existing operators looking to diversify segments served or leverage economies of scale through acquisition – and let’s not forget the private equity group interest. If you’re thinking of selling your restaurant, it’s important to know the value of your company to get top dollar …
Although the Qualified Business Income deduction (QBI or “pass through deduction”) receives all the favorable buzz with the new tax law, we want to make sure that you are aware of another provision established by tax reform – Section 163(j) – which is alarming to your tax-geeky CPA. First off, does this sound familiar? You …