Tax

Tips for Installing the GP Annual Update

As the year comes to a close, the Sikich team is working hard to install required annual updates for our clients. Clients who use…

The Repeal of the Parking Tax and Other Changes for NFPs

Major changes affecting not-for-profit organizations It’ll come as good news to all tax-exempt organizations that the “parking tax” was repealed and, to many, that…

Opportunity Zones: A Case Study

The Tax Cut and Jobs Act of 2017 created a new tax saving vehicle, Opportunity Zones (OZ). The intention of the OZ law is…

2019 Year-End Tax Legislation Enacted

UPDATE: This tax legislation was signed by the President on December 20, 2019 so it is now enacted into law. The Glitch that Stole…

2019 Year-End Tax Planning

Who’s Your Buddy? This list spells out several 2019 year-end tax planning ideas for manufacturing and distribution companies to consider B Bonus Depreciation. 100%…

Extension for ACA Reporting

What you need to know about the ACA reporting deadline extension A welcome update for employers, the Affordable Care Act (ACA) reporting deadline was…

The R&D Credit and Tax Reform – Better Than Ever

With the first full year of tax reform behind us, practitioners and taxpayers are now evaluating the actual impact to their bottom line. One…

Signed into Law: Ohio Biannual Budget Revisions

Changes in Ohio legislation Early in November, Ohio Governor Mike DeWine signed Senate Bill 26 into law, amending items enacted by the Ohio Budget…

The Wayfair Case: Where We Stand & How It Impacts Your Manufacturing Business

The Wayfair case deals with a new law that imposes a sales tax collection responsibility solely due to reaching a certain level of sales…

Looking Ahead to Next Year – IRS Helps Taxpayers See “2020”

On November 6, 2019 the IRS issued inflation-adjusted amounts for various tax items that will apply for the 2020 year On November 6, 2019…

Revisiting Tax Reform’s Impact on the Construction Industry After the 2018 Filing Season

Tax law changes with the biggest impact on the construction industry The 2018 tax year was the first full year that was impacted by…

Webinar: Tax Reform Reset – Business Entity Selection

Dread the Payroll Year-End Process?

One way to make the payroll year-end process a little less stressful with Dynamics GP is to verify your W-2 amounts throughout the calendar…

Charitable Giving Strategies Under the TCJA

As we near the end of the 2019 calendar year, thoughts of year-end tax and financial planning may be on your mind. Charitable giving…

Illinois Tax Delinquency Amnesty Program: Available One More Month!

Pay IL Taxes by November 15th to Avoid Penalties and Interest Beginning this month Illinois is offering a program where taxpayers can voluntarily report and…

Achieving Long-Term Tax Savings with Asset Location Management

A properly structured investment plan offers consideration to the ongoing taxation of wealth during the accumulation phase. As the saying goes, “It’s not what…

IRS Steps Up Virtual Currency Compliance Initiative

IRS Champing at the “Bit” The IRS recently announced that it has begun mailing out notices to owners of virtual currency (also referred to…

The Ohio Budget Bill Brings Changes to the State

Recently passed Ohio budget bill provides additional tax relief and adopts Wayfair economic sales tax nexus On July 18, 2019, the Ohio 2020-21 budget…

Expanded Health Reimbursement Arrangement (HRA) Options Available January 2020

An Overview of the Expanded HRA Options The IRS recently published final rules, model notices, and frequently asked questions on new types of HRAs…

Sikich Tax Update: A Legislative Update from Washington as You Head off on Your Summer Vacation

An Overview of Each Item Addressed by Congress Before the August Recess Summer arrived late in many parts this year, and many folks are…

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