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Tax planning for SaaS companies is extremely complicated. Because SaaS products and services could conceivably be used in every U.S. state, companies need a strong understanding of state and local tax (SALT) obligations and how they vary from state to state. Fortunately, tools exist to help companies achieve and maintain compliance with the full scope […]

The IRS recently cautioned employers that the tax-free status of all benefits provided under their Internal Revenue Code (IRC) Section 125 cafeteria plan could be lost if employees are allowed to self-certify or use shortcut methods to substantiate reimbursable expenses. Failure of the substantiation requirements for any plan benefit causes the amount of all benefits […]

For business owners, paying non-essential professional fees is nearly as unpalatable as paying unnecessary taxes. If you are convinced that you don’t require the services of a certified valuation analyst to value your company, this will not be your favorite blog post. This blog (and an open mind) may, however, help you avoid an unpleasant […]

The U.S. Department of the Treasury and the Internal Revenue Service released guidance on February 13, 2023, providing taxpayers with information and timelines on the program under Section 48C(e)(1) for the allocation of $10 billion of Section 48C credits under the recently passed Inflation Reduction Act. Of that total, $4 billion of the Section 48C […]