In good news for the automobile repair industry, Virginia has enacted a new sales tax exemption for separately stated labor charges rendered in connection with diagnostic labor services for auto repair work and emergency roadside service for motor vehicles, even if tangible property is sold as part of the transaction.
Unless your business is taking advantage of the special export tax incentive known as IC-DISC (interest-charge domestic international sales corporation), you may be leaving money on the table.
Decarbonizing commercial real estate is becoming an industry-wide imperative. Tax incentives in the Inflation Reduction Act give taxpayers several options to offset the cost of energy-efficient upgrades.
IRS guidance addresses full or partial suspensions of operations due to supply chain disruption for ERTC and erroneous ERTC refunds.
On February 23, 2023, the IRS significantly expanded electronic filing requirements for tax returns. This article focuses on the most common type of information returns–W-2 and 1099 series return filings–but the new requirements also apply to other types of returns.
The deadline for claiming the Employee Retention Credit (ERC) is getting closer. If you are an eligible business or nonprofit organization, you still have time to determine your eligibility and file your claim. That time, however, will run out soon with strict filing deadlines coming up in 2024 and 2025.
With so many questions remaining five years after Wayfair, sales and use tax nexus planning remains critically important.
The rules for deducting meal and entertainment expenses are different in 2023. Browse an overview of common deductible expenses in this article.
A summary of state and local income tax updates enacted during the quarter ending June 30, 2023, which may impact current and deferred tax provisions
On July 1, 2023, more than 8,000 Virginia employers will receive a notice about RetirePath, a state-sponsored retirement program. Employers will need to register by February 2024, offer their own plan, or pay a per-employee fine.
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