Articles

MWE written articles.

Posted in Individual Tax Brief

Be Sure to Deduct all of the Mileage You’re Entitled to

You probably know that miles driven for business purposes can be deductible. But did you know that you might also be able to deduct miles driven for other purposes? The rates vary depending on the purpose and the year: Business: 56 cents (2014), 57.5 cents (2015) Medical: 23.5 cents (2014), 23 cents (2015) Moving: 23.5…

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Posted in State & Local Strategies, Sales and Use Tax

Marketplace Fairness Act Meets Another Detour as a New Proposal Circulated for Online Sales Tax Simplication

Is the new Congress planning to alter some of the unpopular provisions of the 2013 Marketplace Fairness Act? It sure seems like it. On January 13th, House Judiciary Chairman, Representative Bob Goodlatte, circulated a draft of the  Online Sales Simplification Act of 2015.  As reported in a Bloomberg BNA article,  Read More

Posted in Individual Tax Brief

You May be Able to Save More for Retirement in 2015

Many retirement plan contribution limits increase slightly in 2015; thus, you may have opportunities to increase your retirement savings: Type of limitation 2014 limit 2015 limit  Elective deferrals to 401(k), 403(b), 457(b)(2) and 457(c)(1)plans   $17,500   $18,000  Annual benefit for defined benefit plans   $210,000   $210,000  Contributions to defined contribution plans   $52,000…

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Posted in Alerts

MWE Exhibits at ICSC 2014 New York National Deal Making Conference

MWE Real Estate Committee members Scott Saulino, Scott O’Sullivan, Steven Schlachter and John Schmuck post in front of MWE’s exhibit. The International Council of Shopping Centers held their annual National Deal Making Conference December 8 and 9 at the Jacob Javits Center in NYC – and MWE joined this year as an exhibitor. The…

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

Multistate Tax ‘Nexus in Texas’ Alert – Comptroller Decision Sounds Sales Tax Warning For Software Providers

As someone who regularly tunes into the Weather Channel, I keenly appreciate how meteorologists recognize dangerous patterns and potentially significant storms through analysis of weather hundreds of miles and days away from a location.  This ability to predict weather emergencies allow us to prepare and “batten down the hatches” well in advance of the…

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Posted in State & Local Strategies, Nexus, Property and Other State/Local Tax Issues

Polar Vortexes and November Blizzards – Time to Winterize Your Multistate Tax Machine

It is not even Thanksgiving, but already as the news reported yesterday, US braces for more icy temperatures and snow as ferocious storm lingers.  Many years ago I adopted an approach for dealing with Northeast winters.  My approach centered around assessment, preparation and planning.  I called it “winterizing.” My son…

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Posted in Accounting & Auditing

Timing Business Income and Expenses to Your Tax Advantage

Typically, it’s better to defer tax. Here are two timing strategies that can help businesses do this: 1. Defer income to next year. If your business uses the cash method of accounting, you can defer billing for your products or services. Or, if you use the accrual method, you can delay shipping products or delivering…

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