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Understand the Tax Mechanics in the Sale of Trade or Business Property
May 23, 2022
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…
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Seven Key Tips for Managing Interns
May 16, 2022
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…
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Baseline GAAP for Digital Assets
May 9, 2022
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…
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Tax Planning for New York Estates
May 2, 2022
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…
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April112022
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 […]

March212022
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 […]

January102022
Interested in Claiming State Tax Credits and Incentives?

State governments offer tax credits and incentives to attract new businesses and retain business operations within their jurisdictions. States sometimes create their own versions of federal credits (e.g., Research and […]

December062021
Pass-Through Entity Tax Has Had Unexpected Consequences

Looking back on 2021, I would say the most noteworthy development of the year in state and local tax was the pass-through entity tax (“PTET”). The Tax Cuts and Jobs […]

October192021
Handling State Tax Filing Delinquencies via Voluntary Disclosure

As a state and local tax professional, I often advise clients on their state tax filing requirements from a prospective perspective (i.e., analyzing the state tax implications of potential business […]

August022021
Potential Tax Savings for Pass-through Entity Owners

If you receive income from a pass-through entity (PTE) such as a partnership, an S Corporation, or a multi-member limited liability company, you could potentially lower your federal personal income […]

June072021
Signed a commercial lease in Manhattan? Let’s talk about CRT.

You are planning to open a business location in Manhattan. You find a great space in the heart of Manhattan and quickly sign the lease agreement. By doing so, you […]

April052021
2020 Teleworking and the Threat of Double Taxation

Due to the COVID-19 pandemic and the stay-at-home orders that followed, many employees telecommuted for substantial portions of 2020, and worked from places different from their regular work locations. When […]

March012021
Before You Hoist Sail, Check Out the Sales and Use Tax Implications

Now may seem like the perfect time to head to the open waters and experience the feeling of fresh air on your face and wind in your hair. But before you […]