State & Local Tax Issues | An Archive of Blog Posts from Moskowitz LLP

Businesses Entitled to Deduct Charitable Contributions Received in Exchange for SALT Credits

Posted on February 12, 2019April 25, 2019 by moskowitz Posted in Business Law, State & Local Taxation, Tax Services

One of the more controversial provisions of the Tax Cuts and Jobs Act (TCJA) of 2017 was the addition of 26 U.S. Code § 164(b)(6), which capped the tax deduction for state and local taxes (SALT) paid by an individual to $10,000 per year ($5,000 for married taxpayers who file...

Leaving California and the Franchise Tax Board Behind: A Little Q&A on California Exit Planning

Posted on January 29, 2019April 25, 2019 by moskowitz Posted in State & Local Taxation, Tax Planning & Compliance

Individuals and businesses alike are leaving California to take advantage of lower taxes, lower labor costs, more affordable living, and less stringent regulations elsewhere. If you are part of this exodus, it is important to plan your move carefully so that the State of California has no reason to continue...

Tax Information Deadlines

Posted on January 15, 2019April 25, 2019 by moskowitz Posted in State & Local Taxation, Tax Planning & Compliance

Deadline: January 31, 2019 Form 1040-ES: Estimated Tax Payment (4th Quarter 2018) If you don’t pay your income tax obligations through withholding because you are self-employed or are otherwise required to pay quarterly estimated taxes, be sure to postmark your fourth payment before the January 16th deadline. If you file...

2018 Tax Prep and Organizer Resources

Posted on January 15, 2019April 25, 2019 by moskowitz Posted in Estate Planning & Taxation, State & Local Taxation, Tax Planning & Compliance

Our attorneys and accountants have extensive experience preparing tax returns and other reports to federal, state and other taxing agencies. The firm handles both routine and complex tax filings at the federal, state and local levels. We prepare the full range of returns, including individual income tax returns,corporate tax returns,...

“When you steal from the state coffer, you are stealing from the public.”

Posted on January 10, 2019April 25, 2019 by moskowitz Posted in State & Local Taxation

State sales taxes may appear to be small fry compared to federal income taxes, but don’t be misled. The State of California is serious about collecting sales tax, and is vigilant in its pursuit and punishment of retailers who fail to remit the amounts they collect from their customers. The...

The State of California Hits “Rock Bottom”

Posted on January 8, 2019April 25, 2019 by moskowitz Posted in State & Local Taxation, Tax Planning & Compliance

This past June, Michael Steven Rock of “Rock Bottom Beds,” a furniture store in Roseville, California, was sentenced to one year in jail followed by five years’ probation for sales tax evasion and filing a false state income tax return. From July 2008 through June 20012, Mr. Rock had collected...

Opportunity Zones, Part IV: How to Take Advantage of the Tax Benefits of Opportunity Zone Investment

Posted on December 27, 2018April 25, 2019 by moskowitz Posted in State & Local Taxation, Tax Planning & Compliance

Other Posts in this Series Part I: New Opportunity To Save Taxes While Doing Good Part II: The Tax Benefits of Opportunity Zone Investment Part III: Opportunity Zone Investment Rules Steps to ensuring that you receive the tax benefits of your opportunity zone investment. In Parts I, II, and III,...

Opportunity Zones, Part III: Opportunity Zone Investment Rules

Posted on December 26, 2018February 13, 2019 by moskowitz Posted in State & Local Taxation, Tax Planning & Compliance

Other Posts in this Series Part I: New Opportunity To Save Taxes While Doing Good Part II: The Tax Benefits of Opportunity Zone Investment Part IV: How to Take Advangage of the Tax Benefits of Opportunity Zone Investment The longer you hold qualified opportunity zone property, the greater the tax...

Opportunity Zones, Part II: The Tax Benefits of Opportunity Zone Investment

Posted on December 24, 2018February 13, 2019 by moskowitz Posted in State & Local Taxation, Tax Planning & Compliance

Other Posts in this Series Part I: New Opportunity To Save Taxes While Doing Good Part III: Opportunity Zone Investment Rules Part IV: How to Take Advangage of the Tax Benefits of Opportunity Zone Investment The longer you hold qualified opportunity zone property, the greater the tax benefit. Opportunity Zones...

Opportunity Zones, Part I: New Opportunity to Save Taxes While Doing Good

Posted on December 20, 2018February 13, 2019 by moskowitz Posted in State & Local Taxation, Tax Planning & Compliance

Other Posts in this Series Part II: The Tax Benefits of Opportunity Zone Investment Part III: Opportunity Zone Investment Rules Part IV: How to Take Advangage of the Tax Benefits of Opportunity Zone Investment The new tax law provides a tax incentive for investments in “Opportunity Zones” in order to...

Category: State & Local Taxation

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