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Tax Preparation
Your CPAs Guide To The New ERC Crisis
IRS Announces Moratorium on the Employee Retention Credit and Provides Guidance for Civil Penalty Amnesty to Withdrawing Improper Claims, Also Known As - Don’t Deposit That Check and Hire Legal Counsel The expansion and strong marketing tactics of good-for-nothing “accounting advisors” who encouraged taxpayers to qualify for the Employee Retention Credit (“ERC”) when they did not technically qualify has caused…
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Handwritten Will Found In Aretha Franklin’s Couch Ruled To Be Valid
When Aretha Franklin—the Queen of Soul—died in 2018, it was widely reported that the singer had no will. Don Wilson, a Los Angeles lawyer who worked for Franklin for nearly 30 years, told The Guardian, "I tried to convince her that she should do not just a will but a…
How Fake News Affects The Tax World
Professors Kathleen DeLaney Thomas and Erin Scharff discuss fake tax news and the effect it has on public policy. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International. This week: unbelievable. The…
California’s Shocking New Income Redistribution Scheme Exposed
California is one of the most overtaxed states in the nation. But as this episode of What’s Ahead warns, residents are in for a new jolt: Electricity bills will not only be based on the amount of juice consumed but also on personal incomes. That’s right. In addition to the…
States Gearing Up For 2023 Back-To-School Sales Tax Holidays
We’re a month or so into summer, and my inbox is already filling up with back-to-school offers. According to the National Retail Federation, 80% of shoppers expect higher prices this year—and more than 2/3 of shoppers typically plan shopping around sale events. When every dollar counts, taking advantage of state…
Does Casino Gambling Beat Crypto Investing?
Las Vegas has 21,000 conferences a year. Yet, the 21,000-member-strong American Economic Association has never held its annual convention in Sin City. It hasn’t been invited. No surprise. Vegas wants to host special people — people who know how to have fun, who love the glitz, the lights, the noise,…
A Contrarian Perspective On The Global Digital Services Tax Moratorium
There are two international events that I’ll be following this July. Both take place in France. The Tour de France has been a midsummer treasure for more than 100 years. It’s a spectacle of human endurance — a bit like running a marathon a day, every day, for three consecutive…
Staffers Find $352 Million Mistake In Minnesota’s New Tax Law
Mistakes happen. But when they happen in tax legislation, it can result in millions of dollars of unexpected taxes. That’s what happened in Minnesota—to the tune of $352 million. One Minnesota Budget The legislature’s $3 billion tax bill made headlines when it passed earlier this year. Included in the new…
Structured Installment Sale Can Be A Great Solution
When that ship of yours that is coming in is visible on the horizon - a business that you have built or some assets that you shrewdly purchased long ago now ripe for sale- you need to think about how to deal with the associated tax on your gain. Just…
To Leave California Over Taxes, Avoid These 10 Costly Mistakes
If you live in California, leaving the Golden State and skipping California’s 13.3% rate can be alluring. It’s especially true if you are about to sell appreciated stock, crypto or your company. After all, California taxes ordinary income and capital gain at the same rates. Not long ago, a tax…
Examining The Chile-U.S. Tax Treaty
Tax Notes reporters Cady Stanton and Michael Smith discuss the recently passed Chile-U.S. tax treaty and the importance of tax treaties on both a national and international scale. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief…
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Creative Ways Startups Can Earn Funding in Tough Economic Times
In a declining economy, startups face an uphill battle when it comes to securing funding.…
I Asked AI to Create a Plan for a Fake Company — The Results Blew Me Away, But Not in the Way You Might Think
With all of the recent news about artificial intelligence (AI), it got me thinking about…
Ideas To Transform You From Good To Better To Best
A while back, I took a couple of my grandchildren on a tour of the…
5 Crucial Challenges Startups Must Overcome
Startups face numerous challenges on their journey to success, and failing to overcome any one…