News

Selling into Louisiana? Allison Civello writes about Louisiana’s amended economic nexus provisions. Starting July 1, 2020, joining other states post-Wayfair, Louisiana amends nexus for sales and use tax responsibilities to include marketplace facilitators. Louisiana now defines nexus as over $100,000 in sales per year or 200+ transactions, to out-of-state sellers and marketplace facilitators. Just over […]

Question: I took advantage of the increased lifetime exemption amount but heard that it will revert back to a lower amount – now what? Answer: Under the Tax Cuts and Jobs Act (TCJA) passed at the end of 2017, the basic exclusion for estate and gift tax was increased to $10 million, indexed for inflation

There are benefits to taking advantage of net operating losses (NOLs) for business and individuals, and here Frank Holzenthal summarizes the recent IRS guidance to the NOL changes and important dates to consider. The CARES Act includes changes to the tax treatment of NOLs, which occur when tax deductions exceed its taxable income within a

TIME TO LOOK BACK – a Carryback for Cash During these financially challenging times, many of us are looking forward to days of normalcy. But Wegmann Dazet’s Frank Holzenthal says maybe you should be looking back! That’s correct; in fact, the CARES Act allows you the opportunity to get some much needed cash in your

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