Brady Ware News

New York State and Local Tax Updates May 2020

Five-cent carryout bag reduction fee imposed in Troy and White Plains Starting June 1, the New York cities of Troy and White Plains will impose a five-cent carryout bag reduction fee. The fee will be collected by sales tax vendors when they provide a customer with a paper bag. (Bulletin, NY Dept. of Taxation and…

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California State and Local Tax Updates May 2020

California changes cigarette tax reporting If you work in the cigarette industry in California, do you know about the changes to the cigarette tax reporting? The CA Dept of Tax and Fee Administration (CDTFA) reminds cigarette distributors, manufacturers and wholesalers that new reporting requirements for cigarette tax become effective with the May 2020 filing period,…

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Charitable Remainder Trusts

Make a Lasting Charitable Gift with a Charitable Remainder Trust The novel coronavirus (COVID-19) pandemic may have you thinking about how you can help those whose health and financial security has been imperiled by the virus. Naturally, charities fighting COVID-19 will welcome your donations now. But you may also want to think about making a…

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COVID-19 Relief: New Rules for Deducting Charitable Contributions

COVID-19 Relief: New Rules for Deducting Charitable Contributions The CARES Act includes several changes that encourage charitable giving during the coronavirus (COVID-19) crisis. This is welcome news for certain public charities, including churches, educational organizations, hospitals, medical research organizations and food banks. Here’s an overview of the tax rules for deducting charitable contributions — and…

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Reopening Your Business: 10 Questions to Ask Yourself

Is it Time to Reopen Your Business? 10 Questions to Ask Yourself Businesses across America that have been shut down due to the novel coronavirus (COVID-19) pandemic may now (or soon) have the option to reopen. Since no two businesses are alike — even those in the same industry and location—what makes sense for one…

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