by Lawhorn Team Professional | Jan 9, 2019 | Advice, Tax
With the recent government shutdown and the opening of the 2019 tax season coming soon, did you wonder how that would affect the filing of your 2018 taxes? Maybe, or maybe not. Since no one knows for sure when the government will re-open, here’s what you need to know....
by Lawhorn Team Professional | Dec 4, 2018 | Advice, Business Practices, Tax
Requirements within state sales tax regulations have changed. The Supreme Court reversed the law (Quill v. North Dakota) requiring retailers to have a physical presence within a state before the state can collect sales tax from businesses. South Dakota v. Wayfair...
by Lawhorn Team Professional | Nov 20, 2018 | Business Practices, Tax
Previously, we introduced the new Accounting Standard Update (ASU) No. 2014-09, Revenue from Contracts from Customers. Although this standard is specific and all-encompassing, framework is provided for assistance. Step One begins by assisting companies with...
by Lawhorn Team Professional | Oct 9, 2018 | Business Practices, Tax
The following is the first in our series of articles discussing the latest on the Revenue from Contracts with Customers standard, ASU (Accounting Standard Update) No. 2014-09, which was to be adopted by public companies by year end 2018. Our goal is to keep you...
by Lawhorn Team Professional | Jun 25, 2018 | Advice, Business Practices, Tax
In a 5-4 decision on Thursday, June 21, the Supreme Court ruled that states can collect online sales tax—discarding the court’s longstanding rule that states cannot require companies without a physical presence to collect sales taxes. The decision reverses decades of...
by Lawhorn Team Professional | May 15, 2018 | Advice, Financial Planning, Tax
If you’re slightly confused regarding how the Tax Cuts and Jobs Act affects your personal tax strategy, you’re not alone. One of the primary causes for confusion is the disconnect between lawmakers and the IRS. Even though the new law drastically changes...