PPP Forgiveness and Repayment: Deadline Approaching
If you received a PPP loan, important forgiveness deadlines are approaching. Are you ready?
When operating a multi-national business, one of your top concerns is likely the tax incurred in each state. There are tens of thousands of state and local tax jurisdictions nationwide, each with a unique set of rules and regulations. Many state and local governments are taking a more aggressive approach to creating and enforcing their tax regulations, often without statutes of limitation. In addition, new state tax rules and regulations are enacted each year, leaving you to wonder if you are in compliance, overpaying taxes, or making informed decisions.
Custom-Tailored Solutions by Experienced Tax Experts
We conduct state and local tax research and provide tailored solutions to meet your needs. Our professionals stay abreast of state law changes to give you the information you need to know how to avoid future concerns. We conduct nexus studies, work with states when needed, and help you stay proactive with compliance issues as your business expands.
Our experts have considerable experience in proactively reducing SALT liabilities by navigating state tax rules and regulations to optimize savings opportunities. We are proactive in our approach, and you will find our team accessible and committed to reducing your tax burden and increasing your cash flow.
For more information about SALT services from Lumsden McCormick, please contact Mark Stack or complete the form below.
The accounting for leases is changing significantly. The required implementation of FASB ASC 842 will mandate that most leases are included on the balance sheet as a right-of-use asset, with a corresponding lease liability. The new standard will impact nearly all commercial businesses and nonprofit organizations and is effective for annual reporting periods beginning after December 15, 2021.Learn More
As everyone knows, the COVID-19 pandemic has had a global impact beyond health and safety concerns. With millions of Americans vaccinated, where does the economy stand and what can be expected across the Upstate region, New York State, the United States, and Canada?Learn More