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Author: Staff

Entity Level Tax is a Valid Workaround on the $10,000 SALT Limitation

November 13, 2020 by Staff
Copeland Buhl
The TCJA limited the state and local tax (SALT) itemized deduction to $10,000, which essentially increased the federal income tax on many small business owners operating as passthrough entities (PTE) (i.e. partnerships and S corporations).   For federal purposes, a PTE’s income is taxed on the individual income tax return and...
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Sales Tax Nexus - Fallout from the Wayfair Decision

March 12, 2020 by Staff
State and Local Taxation
In June 2018 the US Supreme Court transformed the landscape for businesses collecting sales tax[i].   Our October 8, 2018 blog, “Economic Nexus and How it Might Affect You”, explained the impact of this decision.  A year and half later, apart from Florida and Missouri, all states with a sales tax[ii]...
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Does Your Estate Plan Limit Minnesota Estate Taxes?

November 11, 2019 by Staff
Estate and Gift Taxes
If not, here are some ideas, courtesy of our friends at Sanford, Pierson, Thone and Strean, Attorneys at Law, for married Minnesota residents and nonresident Minnesota property owners to consider: Minnesota is an equal opportunity estate taxing authority: it taxes residents and nonresidents alike. If you live in Minnesota, or...
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