Increasing Cash Reserves During Coronavirus Crisis

ALERT: Although much of the focus has been on the effect of the COVID-19 crisis on families and small businesses, many provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act are directed towards large corporate taxpayers. A combination of these provisions and age-old tax strategy could result in significantly increased cash flow, something desperately needed as the crisis quickly depletes corporate reserves. Download our summary for more details.Download ...

GAGNONtax Super Bowl and 2019 Tax Predictions

Bill Gagnon, President: Tax Reform will result in a second year of guidance and law changes (or lack thereof), creating even more complexity and uncertainty in the determination of state taxable income; and where there is uncertainty, there is a need for additional reserves. Further, expect a trend toward changes in entity form once individuals and small businesses have the advantage of seeing the “with and without” Tax Reform calculations associated with their 2018 earnings. ...

State Corporate Income Tax Effect of Federal Tax Reform

Since it was signed into law at the end of 2017, the Tax Cuts and Jobs Act of 2017 (the "Act") has sent states scrambling to interpret the various provisions, understand the revenue impact (not to mention the acronyms) and make legislative decisions and changes. Tax Cuts and Jobs Act of 2017 – At-a-Glance There has been a torrent of activity at the state level in response to the Act, and the GAGNONtax team has been busy tracking the...