Brian Sengson Shares Insights on Wayfair Ruling in Law360

In an article recently published in Law360, state and local tax attorney Brian Sengson discusses how technology companies will continue to face expanded sales tax nexus as states adopt economic nexus law. Companies, particularly technology companies, should not take the Wayfair ruling lightly.

IRS Gives Taxpayers A Break on Meal Deductions

On October 3, 2018, the IRS issued Notice 2018-76 confirming that certain business meals will continue to be deductible, subject to the 50% limitation. As background, the Tax Cuts and Jobs Act (“TCJA”) of December 2017 eliminated the deduction for entertainment expenses effective January 1, 2018, creating uncertainty whether client business meals would be treated as a form of nondeductible entertainment.

Tim Oberst Discusses the Section 199A Deduction in Accounting Today

In an article published in Accounting Today, Bennett Thrasher partner Tim Oberst discusses the highly anticipated proposed regulations for Code Section 199A, the new 20 percent deduction on “qualified business income” of pass-through entities, released by the Treasury Department and the IRS on August 8.

New Sales Tax Nexus Standard: South Dakota V. Wayfair, Inc.

In the landmark decision of South Dakota v. Wayfair, Inc., the US Supreme Court overturned the Quill physical presence standard, deeming it “unsound and incorrect.” In turn, the Court upheld South Dakota’s economic nexus law, which requires companies to collect sales tax when their sales or the number of transactions with the state exceed certain thresholds.

The Tax Cuts & Jobs Act Influences Business Valuation

On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law.  It is the most comprehensive tax reform seen in the United States since President Ronald Reagan’s 1986 Tax Reform Act. 

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