Insights

Videos and Articles

State tax law changes for the second quarter of 2021

State tax law changes for the second quarter of 2021

A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending June 30, 2021.
Colorado enacts numerous tax-related bills

Colorado enacts numerous tax-related bills

Trio of tax bills impact individual and business filers with significant corporate income tax changes scheduled for 2022.
Nebraska enacts new sales and use tax exemption for ethanol producers

Nebraska enacts new sales and use tax exemption for ethanol producers

Nebraska broadly exempts manufacturing inputs used by ethyl alcohol producers from the sales and use tax effective Oct. 1, 2021.
Advance Child Tax Credit Payments

Advance Child Tax Credit Payments

The American Rescue Plan expanded the Child Tax Credit and provided a mechanism for families to receive advance payments for the credit. In this video, we will provide an overview of the Child Tax Credit and the advance payments that will begin this summer.
Wayfair nexus turns three by celebrating near universal adoption

Wayfair nexus turns three by celebrating near universal adoption

Three years after the Wayfair decision, economic sales tax nexus has become the norm, but unanswered questions and numerous issues remain.
The Qualified Business Income Tax Deduction

The Qualified Business Income Tax Deduction

The Qualified Business Income (QBI) Deduction can reduce an individual's tax liability on pass-through income by as much as 20% of taxable business income from the entity. Here's a great 3-minute video to find out more.
Nebraska cuts corporate income tax rates

Nebraska cuts corporate income tax rates

Nebraska enacts corporate income tax rate reductions over the next two years while promising more reductions in subsequent measures.
White House releases President’s budget, Treasury Greenbook

White House releases President’s budget, Treasury Greenbook

Administration issues Presidential priorities and pay-fors. Corporations and wealthy individuals face prospect of increasing tax rates.
Budget Reconciliation – A Potential Path for President Biden’s Plans

Budget Reconciliation – A Potential Path for President Biden’s Plans

President Biden has proposed the American Jobs Plan and the American Families Plan, but a closely divided senate makes it challenging to turn these bills into law. In this video, we’ll discuss the budget reconciliation process as a possible path.
New IRS guidance on health FSAs and dependent care assistance programs

New IRS guidance on health FSAs and dependent care assistance programs

IRS provides guidance on dependent care assistance program enhancements made due to COVID-19-related legislation.
As income tax rates increase, beware of certain deferral strategies

As income tax rates increase, beware of certain deferral strategies

Tax-deferral techniques—possibly spurred by a potential increase to capital gains rates—must be scrutinized, as evidenced by this IRS memo
The American Families Plan

The American Families Plan

On April 28, 2021, President Biden introduced the American Families Plan, a $1.8 trillion spending plan that includes tax increases on high-income taxpayers to help offset its costs. In this video, we will quickly cover potential changes to the tax law that, if enacted, may affect you and your family.
IRS issues PPP expense deduction safe harbor for fiscal year taxpayers

IRS issues PPP expense deduction safe harbor for fiscal year taxpayers

IRS safe harbor for fiscal year taxpayers on accounting period in which to deduct PPP expenses provides choices and certainty.
Tax Strategies for Real Estate Owners

Tax Strategies for Real Estate Owners

In addition to appreciation and income generation, rental real estate can provide many tax benefits. In this video, we will cover some of the more attractive tax strategies for real estate owners.
Will proposed corporate, international tax changes survive Congress?

Will proposed corporate, international tax changes survive Congress?

President Biden’s proposed changes to corporate and international taxes face Congressional obstacles. RSM examines what’s ahead.