Recent News & Events

2018 August News in Review

2018 August News in Review

Sansiveri’s 2018 August News in Review is a summary of news, events and links that we shared throughout the month of July. Just in case you missed an earlier post or email, this issue includes information about the business deductions for meal, vehicle and travel expenses; payroll tax obligations; the...

How to Handle Business Deductions for Meal, Vehicle and Travel Expenses

Document and Segregate Meal and Entertainment Expenses Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find your deductions denied by the IRS. A Critical Requirement Subject to various rules and limits, business meal (generally 50%), vehicle and travel...

Qualified Business Income Deduction Limit

Qualified Business Income

Close-up on the New QBI Deduction’s Wage Limit The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income from sole proprietorships, partnerships, S corporations...

Business Owners – What Are Your Payroll Tax Obligations?

Payroll Tax

How to Avoid Getting Hit With Payroll Tax Penalties For small businesses, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those tables account for changes under the...

SKNOW’s 2018 Summer Networking Event

Boat Ride

SKNOW is hosting a women's networking event at The Whiskey Republic on Wednesday, August 1, 2018. The evening includes networking, cocktails and refreshments from 5:00 to 6:00 pm, followed by a private chartered boat ride given by the Providence River Boat Company from 6:00 to 7:00 pm. The...

The Sales Tax Impact of South Dakota Versus Wayfair, Inc. Decision

Does Your Business Have to Begin Collecting Sales Tax on All Out-of-State Online Sales? As we've written about previously, the recent U.S. Supreme Court decision now allows state and local governments to impose sales taxes on more out-of-state online sales. The ruling in South Dakota v. Wayfair, Inc. is welcome...

What is the Best Entity Structure for Your Business Today?

Corporate structure

Choosing the Best Business Entity Structure Post-TCJA For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C corporations were taxed at rates as high as 35%. The TCJA also reduced...