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August Economic Update

Minnesota and Wisconsin Announce Sales Tax Collection Requirements for Remote Sellers

Since the U.S. Supreme Court’s decision in South Dakota v. Wayfair on June 21, which allowed states to require retailers to collect sales tax on purchases made by residents of states where the retailer has no physical presence, states have been providing a steady stream of guidance announcing their own intentions to begin sales tax collection by remote sellers. Minnesota and Wisconsin are two of the latest states to make such announcements, stating that remote sellers will be required to collect sales tax from residents beginning October 1.

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Is More Tax Reform on the Horizon?

President Trump and Republican lawmakers currently are considering a second round of tax reform legislation as a follow-up to last year’s Tax Cuts and Jobs Act (TCJA). As of this writing, there’s been no actual bill drafted. However, House Ways and Means Committee Chair Kevin Brady (R-TX) just released a broad outline or framework of what the tax package may contain.

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Second Quarter 2018 Market Perspective

July Economic Update

Quill is Gone: What Does that Mean for Physical Presence Requirements?

On June 21, 2018, the U.S. Supreme Court sided with the State of South Dakota to overcome the physical presence test required by the 1992 Quill Corp. v. North Dakota case. In Quill, the Court required retailers to have physical presence in a state before it could be held responsible for sales tax in that state.

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A New Look for an Old Form: 2019 Early Release Draft Form W-4 Available

With the early release draft of the 2019 Form W-4 and the anticipated release of 2019 draft withholding tables, it may be wise to address whether making changes to your W-4 is appropriate. If you would like further information on how these changes may impact your personal tax situation or the employer withholding requirements, contact us at learnmore@BoulayGroup.com or 952.893.9320.

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2018 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us at learnmore@BoulayGroup.com or 952.893.9320 to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

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Understanding the Recent Rule Changes for Deducting Pass-Through Business Losses

There are many reasons your business may have had a year where tax losses were generated, and it is important that you know that your tax loss deduction may be limited or changed by the Tax Cuts and Jobs Act. Discuss your options with one of our expert tax advisors if you are unsure how to plan for and claim your business losses this year.

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June Economic Update

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