March 12, 2021
Do I Need a Private Placement Memorandum to Raise Investment Capital?
The short answer is that it depends, but it is usually advisable and sometimes required. Let’s dig deeper. Initially, let’s discuss what a PPM is. A PPM is a document that discloses information regarding the company that is seeking to raise
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Maryland’s Digital Ad Tax: The Next Frontier in State and Local Taxation
February 22, 2021
Maryland’s Digital Ad Tax: The Next Frontier in State and Local Taxation
On Friday February 12, the Maryland State Senate voted to override Maryland’s governor to pass a bill creating a tax on annual gross revenues derived from digital advertising services in Maryland. Maryland’s digital advertising tax is the first of its…
Strategies and Resources for Year End Tax Planning
December 10, 2020
Strategies and Resources for Year End Tax Planning
In a year that has forced many to be reactionary, tax planning offers an opportunity for business owners to be proactive about the health of their business as the end of 2020 draws near. Attorney Michael Zahrt provides tax planning strategies for year end along with updates…
A Guide to the Employee Retention Tax Credit: An Alternative to the PPP
May 14, 2020
A Guide to the Employee Retention Tax Credit: An Alternative to the PPP
For more articles from the June 2020 issue of Business & Tax Law News, click here. The CARES Act created the Employee Retention Tax Credit (“ERTC”), which is designed to provide financial relief to employers during the COVID-19 pandemic.…
Tax Court Decision Highlights the Risks of Sending Your Tax Documents to the IRS Via Regular U.S. Mail
By Site Admin
March 27, 2020
Tax Court Decision Highlights the Risks of Sending Your Tax Documents to the IRS Via Regular U.S. Mail
For businesses and individuals, preparing tax-related documents required by the Internal Revenue Service (IRS) or United States Tax Court can be a complex process, often requiring the assistance of outside advisors such as attorneys…
IRS Finalizes 199A Safe Harbor for Rental Property
October 16, 2019
IRS Finalizes 199A Safe Harbor for Rental Property
The IRS recently issued Revenue Procedure 2019-38, which finalizes the safe harbor for rental property under Code Section 199A that was originally provided in IRS Notice 2019-07. The safe harbor treats a rental real estate enterprise as being eligible for the qualified…
Responding to a Michigan Department of Treasury Notice Regarding a Tax Liability or Refund Adjustment
September 5, 2019
Responding to a Michigan Department of Treasury Notice Regarding a Tax Liability or Refund Adjustment
There are several ways to respond to a notice from the Michigan Department of Treasury (“Treasury”) regarding an outstanding tax liability or refund adjustment. The options available to individuals and businesses generally include the following: 1. offer…
Tax Court Permits Examination of Predeceased Spouse for Purposes of DSUE Adjustment
By Site Admin
March 19, 2019
Tax Court Permits Examination of Predeceased Spouse for Purposes of DSUE Adjustment
The concept of “portability” was introduced into the Internal Revenue Code (“IRC”) pursuant to the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Portability allows a surviving spouse to apply an unused portion of a deceased spouse’s…
Tax Consequences of Divorce: Major Changes Effective in 2019
February 20, 2019
Tax Consequences of Divorce: Major Changes Effective in 2019
This is the first in a two-part series about the consequences of divorce under the Tax Cuts and Jobs Act of 2017. The first part addresses alimony, child support, and child-related credits. The second part will discuss dividing assets, the marital home, and…