News

We read CARES, so you don’t have to! From individual stimulus checks to employer payroll taxes, and from retirement account withdrawals to alcohol excise taxes, Wegmann Dazet’s Frank Holzenthal provides an important summary of TEN federal tax benefits resulting from the recently passed Coronavirus Aid, Relief, and Economic Security (“CARES”) Act.   Economic Stimulus Payments […]

By now, you have no doubt heard about the passage and enactment of the “Families First Coronavirus Response Act” (“Act”), from March 18, 2020. The Act was issued to give the first bit of relief to business owners and individuals affected by the unprecedented impact of COVID-19 on our lives and our financial stability. Here

  Richard Tullier, CPA and Senior Manager in our Tax Department, provides an update to  the recent IRS April 15 tax delay, for COVID-19 emergency relief: On March 20, 2020, the Department of the Treasury expanded relief for federal taxpayers affected by “ongoing Coronavirus disease 2019 pandemic.” Now, the due date for federal income tax

The management of Wegmann Dazet has been closely monitoring the spread of the novel Coronavirus throughout the city of New Orleans and surrounding areas.  As with everyone, we are concerned about our clients as well as our people as we work through this unprecedented situation.  Since the beginning, we have encouraged our staff to focus

Sounds like a simple question but when you apply the principles of “Revenue Recognition” accounting standards that will soon apply, that simplicity gets challenged. Why is this important?

Amazing yet true: it seems 401k Fiduciary Duties keep growing. If your plan documents name you (the plan administrator) as the fiduciary, then you and the plan sponsor (your employer), could be taking on more risks than you know. According to the Department of Labor, your basic responsibilities include: acting solely in the interest of plan participants

A Like Kind Exchange, known as a 1031…many of you with real estate know the sweet benefits offered in the program but you may have likely also heard of the many “thou shall nots!” One big one, of course, came with the Tax Cut and Jobs Act that limited all Like Kind Exchange activity to

By Thomas Laine, CPA Updated!…Lease Accounting Standards changes have been delayed.  The Financial Accounting Standards Board (FASB) has decided to delay the implementation of the new standards by one year.  This article will reflect the new deadlines. Did you know… …that the recent changes in lease accounting standards might cause you to #violate a lending #covenant

With income tax nexus and sourcing rules, (e.g. multi-state income tax), your income generated by activities or service delivery in other tax jurisdictions could be subject to tax. Allison Civello, Manager II with Wegmann Dazet, illustrates potential tax liability. Life moves faster than laws; tax laws can lag. Over the last year, we’ve seen a

Chances are good that in a conversation with a tax professional, you’ll hear the term “nexus.” Since it is used often, nexus must mean something important, but what is it? Allison Civello, Manager II with Wegmann Dazet, explains:   Nexus quite simply is a relationship.  In tax, it is the relationship between a tax jurisdiction