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Hawaii becomes the first state to adopt a $100,000 sales or 200 transaction threshold applicable to the state’s income tax.
Correction to constructive ownership rules under section 52 likely to increase aggregation and alter small taxpayer status for many.
IRS allows early reconsolidation given waiver of capital loss generated by the disaffiliation and lack of other tax benefits.
The new pass-through entity level tax may benefit some individuals subject to the $10,000 SALT deduction limitation.
If adopted, these rules may make multiple-employer 401(k) plans an effective way for small business to provide retirement benefits.