Tax Court Permits Examination of Predeceased Spouse for Purposes of DSUE Adjustment
The concept of “portability” was introduced into the Internal Revenue Code (“IRC”) pursuant to the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Portability allows a surviving spouse to apply an unused portion of a deceased spouse’s estate tax exclusion amount to his or her own estate tax liability. Read More ›
Categories: Estate Planning, Tax, Tax Disputes
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Tax Consequences of Divorce: Major Changes Effective in 2019
This is the first in a two-part series about the consequences of divorce under the Tax Cuts and Jobs Act of 2017. The first part addresses alimony, child support, and child-related credits. The second part will discuss dividing assets, the marital home, and retirement assets. Read More ›
Categories: Tax, Tax Disputes
S Elections for ESOP Companies
Many mature, Employee Stock Ownership Plan (ESOP)-owned companies consider making an S-election, and for good reason. An S Corporation owned 100% by an ESOP generally pays no federal income taxes. An S Election instantly boosts cash flow, which the company can use to fund growth opportunities or fund its annual ESOP repurchase obligations. Read More ›
Categories: Tax
Year-End Tax Planning Considerations
Christmas music is back on the radio. If you’re a pointy-headed tax lawyer like me, that’s your reminder to start thinking about year-end tax planning considerations. Even if you’re not, you will want to start planning earlier than in years past to address all the changes brought by tax reform. We will hit the highlights here. Read More ›
Categories: Collections, Income Tax, Tax
Streamlined Sales Tax System After Wayfair
This article was written specifically for MICPA members examining the far-reaching impact of the Supreme Court’s decision in South Dakota v. Wayfair, Inc. Read More ›
How Does the New Pass-Through Deduction Work?
By now, you’ve probably read a variety of summaries about the new tax reform legislation. If you own a pass-through entity, you’ve probably wondered whether you should convert to a C Corporation (if you’re still wondering about that, check out Should You Convert Your Business to a C Corporation?). You may also be wondering how the new pass through deduction you keep hearing about works. That’s what we’re going to try to explain here. Read More ›
Categories: Tax
When Will a Company's Website Create Nexus with a State for Sales Tax Purposes Post-Wayfair?
This is the fifth in a series of articles written for MICPA members examining the far-reaching impact of the Supreme Court’s decision in South Dakota v. Wayfair, Inc. Read More ›
401(k) Tax Notices must be updated for Tax Reform
The Internal Revenue Code (the "Code") requires that each qualified retirement plan sponsor provide a special tax notice to each plan participant. Read More ›
Categories: Employee Benefits, Employment Tax & Withholding, Tax
Just the Beginning: Click-Through Nexus after Wayfair
This is the third in a series of articles written for MICPA members examining the far-reaching impact of the Supreme Court’s decision in South Dakota v. Wayfair, Inc. Read More ›
Categories: Tax, Tax Disputes, U.S. Supreme Court, Use Tax
After Wayfair, Is Michigan’s Legislative Nexus Standard the New Bright Line?
This is the second in a series of articles written for MICPA members examining the far-reaching impact of the Supreme Court’s decision in South Dakota v. Wayfair, Inc. Read More ›
Categories: Tax, Tax Disputes, U.S. Supreme Court, Use Tax
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