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Small Businesses Urge Congress for Sales Tax Simplification and Uniformity in a Post-Wayfair World

By Insights, State & Local Tax, Tax Planning & Consulting

On June 14, 2022, the United States Senate Committee on Finance heard testimonies from small business owners, members of the U.S. Government Accountability office and members of the Streamlined Sales Tax Governing Board on the increasing complexity and cost of sales tax compliance since the U.S. Supreme Court’s 2018 Wayfair decision.

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Do You Need to File Gift Tax Returns? Avoid These Common Mistakes

By Individual Tax, Insights, Tax Planning & Consulting, Trusts & Estate Planning

For 2022, the lifetime gift and estate tax exemption has reached a whopping $12.06 million ($24.12 million for married couples). As a result, few people will be subject to federal gift taxes. If your wealth is well within the exemption amount, does that mean there is no need to file gift tax returns? Not necessarily.

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