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States With No Personal Income Tax
We all pay income taxes. However all we often hear about in the headlines is income taxes imposed by individuals at the federal level (IRS). However, ~41 states also apply an income tax with rates fluctuating from 1% to 13% of your state taxable income. This post highlights the states with no income tax, listed…
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Related Party Considerations Under TCJA
Related Party Considerations Under TCJA The Tax Cuts and Jobs Act (“TCJA”) introduced new provisions to the Internal Revenue Code (“the Code”), which unsurprisingly rely on longstanding concepts within tax law. One of these concepts are with respect to related party transactions and the disallowance of expenses and losses with respect to such transactions. In…
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Entity Election Considerations: Choosing a tax vehicle.
Before starting your small business, you’ll need to select an ownership structure for your new venture. This post is to help highlight some key differences and considerations to consider when making your choice. The post isn’t intended to be exhaustive and doesn’t consider the details of your personal income tax attributes and goals. 1) Sole…
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Audit Red Flags: Considerations when filing your 2020 Tax Return
Due to the CARES Act signed into law on March 27, 2020 the federal and state governments have extended tax deadlines to July 15, 2020. As such, this post will discuss a list of things you, and your tax preparer, should consider when filing your 2020 tax returns. The list isn’t meant to be exhaustive…
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TAM. What is it? Why does it matter? How is it calculated?
What is TAM? TAM, short of total addressable (or available) market, is the overall annual revenue opportunity that is available to a product or service if 100% market share is achieved. Further, TAM takes into consideration the products and customer segments that remain untapped. Take Uber, for example, some may see Uber’s service as just…