Brady Ware News

States Ensure Fair Share of Revenues

Will the Physical Presence Standard for Sales Tax be Overruled? By Kiersten Gaudet, CPA State and Local Tax Services On Friday, January 12, 2018, the U.S. Supreme Court agreed to hear South Dakota v. Wayfair. This case challenges the physical presence nexus requirement in National Bellas Hess v. Illinois and the subsequent re-affirmation in Quill…

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New Business Tax Reforms

Let’s Take a Look at New Business Tax Reforms   The Tax Cuts and Jobs Act (TCJA) provides businesses with more than just lower income tax rates and other provisions you may have heard about. Here’s an overview of some lesser-known, business-friendly changes under the new law, along with a few changes that could affect…

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Pass-Through Entities Under the Tax Cuts and Jobs Act

Spotlight on Pass-Through Entities Under the Tax Cuts and Jobs Act Will pass-through entities still be popular under the Tax Cuts and Jobs Act (TCJA)? The tax rules for pass-through entities, including S corporations, limited liability companies (LLCs), partnerships and sole proprietorships, have generally become more beneficial — but also more confusing under the new…

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How Might the New Tax Reform Law Affect You?

President Trump and Republican members of Congress say the Tax Cuts and Jobs Act (TCJA) will bring $3.2 trillion in tax cuts. Now that the bill has passed, everyone wants to know how much they’ll save. Unfortunately, the tax bill won’t be good news for everyone. Here’s a comparison of how tax results for a typical…

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Big Accounting Rule Changes Coming Soon

As you scramble to get up-to-date on changes to the federal tax rules under the Tax Cuts and Jobs Act, there also will be major changes to U.S. Generally Accepted Accounting Principles (GAAP). Here’s an overview of the major accounting rules that will change over the next few years. These changes are likely to require…

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