Taxes
Tax Consequences of Renting Your Vacation Home
At a glance The main takeaway: Vacation and second homes have grown in popularity since the pandemic, though there are…
Build Back Better Act – Tax Provisions Impacting Individuals
The Build Back Better legislation is progressing towards a vote in the House in the near future. The legislation has…
Infrastructure Investment Jobs Act and Build Back Better Act: What’s in these Bills and the Impact on You and Your Business
At a glance: The Infrastructure Investment Jobs Act passed by Congress on November 5, 2021 has been sent to President…
IRS Issues Guidance on LLC Tax Exemption
The IRS released guidance on how a Limited Liability Company (LLC) can obtain tax exempt status. Notice 2021-56 states that…
Making a Pass-Through Entity Tax Election? Beware: Some Owners May Pay More Tax
By: Jeff Glickman, SALT Partner At a glance The main takeaway: Pass-through entities should use caution if considering a pass-through…
New York Rules that Taxpayer Established Statutory Residency before Becoming Domiciled
By: Aspen Fairchild, SALT Senior Associate At a glance The main takeaway: The actions you take leading up to moving…
Illinois Provides Sales Tax Guidance for Try-Before-You-Buy Subscriptions
By: Tina M. Chunn, SALT Senior Manager At a glance The main takeaway: Subscription models such as “try before you…
Dissecting Maryland’s Sales Tax on Digital Products: Part 1-What is a Taxable Digital Product?
Earlier this year, the Maryland General Assembly overrode the Governor’s veto of House Bill 932 (The 21st Century Economy Fairness…
What Upcoming Tax Legislation Might Mean For You, Your Business, and Your Estate Plan
At a glance The main takeaway: House and Senate Democrats are debating and modifying President Joe Biden’s tax proposals with a…