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Understand the Tax Mechanics in the Sale of Trade or Business Property

What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. To simplify […]

Seven Key Tips for Managing Interns

By offering internships, firms are hoping to identify talent for potential full-time hires. Creating a mutually rewarding relationship between the firm and interns requires effective management practices. In this blog, […]

Baseline GAAP for Digital Assets

Digital Assets (DA) is defined as, “Any asset that is purely digital, or is a digital representation of a physical asset.”1 DAs are formatted into a binary source and have […]

Tax Planning for New York Estates

The federal lifetime gift and estate exemption has been a hit with high net worth individuals. However, these individuals need to keep in mind that along with the federal estate […]

Three Issues to Consider Once You Have Filed Your Tax Return

After your 2021 tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. Here are three considerations: 1. You can throw […]

Use Tax Audits Can Be Triggered by Imported Goods

If you have been reading Berdon blogs for any time now, you are probably familiar with use tax, the other side of sales tax. Use tax is imposed on the […]

Cybersecurity and Protecting Your Investments in the Wild West of Cryptocurrency

Although cryptocurrency is not new, Bitcoin was conceptualized when Satoshi Nakamoto released the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008, the technology and regulation of crypto is […]

A Practical Guide to the Tri-State Pass-Through Entity Taxes

This is a practical guide to navigating the main concepts associated with the pass-through entity (PTE) taxes for New York, New Jersey, and Connecticut. First, we cover some of the […]

Pass-Through Entity Tax Election – Don’t Wait Until Next Year to Decide

Leading up to March 15, I spent a lot of time advising clients in connection with the pass-through entity tax (PTET) election for the 2021 tax year—whether and how to […]