Infographic: How to be safe while shopping online this holiday season.

As we approach the 2019 Holiday Season with Thanksgiving Day celebrations next week, the ever thoughtful and provocative tax experts at the Tax Foundation were considerate enough to release their 2020 State Business Tax Climate Index for all to consider. A quick read of the 2020 State…

Whether it’s hard hats and drills on a jobsite, iPads in an office or RFID readers in a warehouse, small tools and equipment have a tendency to disappear at many companies. The cost of lost, damaged and stolen items can quickly add up, consuming profits and cash flow. What can you do to manage these…

A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors and others. You may have to send 1099-MISC forms to those whom you pay nonemployee compensation, as well as file copies with the IRS. This task can be time consuming and…

Thank you to the men and women who have risked their lives fighting for this country. According to the Small Business Association, “veterans are at least 45% more likely than those with no military experience to be entrepreneurs.” For more business facts about veterans, check out our latest infographic.

MWE SALT Director Joseph Pizzimenti, Esq., talks about what’s hot in State and Local Taxes, Wayfair, and what to expect next. Find the webinar recording here.

Infographic: How to head off payroll mistakes before they become major crises.

“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. Criminals can contact victims through regular mail, telephone calls and email messages. Here are just two of the scams the tax agency has seen in recent months. Fake property liens. A tax bill is sent from…

As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate of tax imposed is 6% but can be reduced by a credit (described below). Most employers end up paying an effective FUTA tax rate of 0.6%. An employer…

Fewer people currently are subject to transfer taxes than ever before. But gift, estate and generation-skipping transfer (GST) taxes continue to place a burden on families with significant amounts of wealth tied up in illiquid closely held businesses. Fortunately, Internal Revenue Code Section 6166 provides some relief, allowing the estates of family business owners to…

Yesterday, a Manhattan judge dismissed a lawsuit filed by four states including New York and New Jersey, saying that they failed to demonstrate that Congress exceeded its taxing authority when implementing the $10,000 cap on state and local tax deductions. After the news broke, Fox Business sat down with MWE SALT director Joseph Pizzimenti,…

Infographic: How to get (tax) credit for your home’s green energy upgrades.

According to a recent Bloomberg article, HILL TAX BRIEFING: House Tax Writers Consider SALT Change Today, several members of the House Ways and Means committee will be meeting soon to discuss the $10,000 limit on the State and Local Tax itemized deduction that was adopted as part of the Tax Cuts…

On September 3, 2019, the New York Department of Taxation and Finance issued three TSB-M announcements that summarize tax law changes adopted as the result of the State’s 2019-2020 Budget {“Budget”} that may affect New York taxpayers’ 2018 returns: TSB- M-19(3)C, Summary of Corporation Tax Budget Legislation Enacted in 2019

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The third 2019 estimated tax payment deadline for individuals is Monday, September 16. Even if you do have some withholding from paychecks or payments you receive,…