In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the [...]
Taxpayers often have questions about Individual Retirement Arrangements, or IRAs. Common questions include: When can a person contribute, how does an IRA impact taxes, and what are other common rules. The IRS offers the following tax tips on IRAs: Age Rules. Taxpayers must be under age 70½ at the end of the tax year to [...]
Most business owners have a lot of wealth tied up in their companies. If you’re in the same boat, how can you convert some of that wealth into cash to help pay for your retirement? Many C corporation owners have found that an Employee Stock Ownership Plan (ESOP) — a qualified retirement plan, similar to [...]
It’s important to stay on top of your tax deadlines. Although the following dates apply to most situations, contact your tax advisor to discuss your specific filing deadlines: January 15 — Due date for the fourth and final installment of 2012 estimated tax for individuals (unless you file your 2012 return and pay any balance [...]
Our very own, Barbara Rosenbaum senior tax partner of Gumbiner Savett Inc., was selected from over 5,000 submissions to be featured in The 2013 Woman’s Advantage Shared Wisdom Calendar. The calendar provides advice for women business owners from influential women leaders across the US and around the world. The editors of the Woman’s Advantage, recently [...]
