Gross Reciepts Tax - Delaware CPA

Delaware Lowers the Gross Receipts Tax

Effective 1/1/2014, the State of Delaware lowered the Gross Receipts Tax for many business categories. Although the gross receipts tax has been lowered, the $100,000 exclusion did not change and still applies. Along with the $100,000 exclusion not being changed, the annual licensing fees remain unchanged. Gross Receipts Tax Change With the change in Gross Receipts Tax for Delaware, some … Continued

You Bought a MLP for Deferred Taxes, but Now…

You may have heard this past Sunday, it may have been Monday morning, or you’re just reading it now: Kinder Morgan Energy Partners, L.P. (NYSE: KMP) broke news on Sunday August 10 on the consolidation of all the Kinder Morgan entities, which resulted in a 17% increase in the stock value that day

Tax Exempt Statuis Reinstatement

The IRS Paves the Paths to Reinstatement of Tax-Exempt Status

If you’re one of the over 500,000 organizations that have lost their tax-exempt status under IRS Code Section 6033(j)and are wandering out in the wilderness, different paths have been laid out for you to regain your eligibility.  Even if your organization has not lost tax-exempt status, be sure to read on to ensure you do not fall into this group. … Continued

Optional Safe Harbor Method for Determining the Home Office Deduction

In 2013, the Internal Revenue Service (IRS) provided an alternate way to calculate the Home Office Deduction called the Optional Safe Harbor Method in Rev. Proc. 2013-13. This simplified method is ideal for those who do not have adequate records of home expenses, do not wish to depreciate their home, or are renters. Under this method the “qualified business use … Continued

Alternative Minimum Tax - Delaware CPA

Alternative Minimum Tax – Not Your Average Tax Hike

The Tax Reform Act of 1969 included one of the more clever devices to hit the Internal Revenue Code in the history of tax legislation, in my opinion. While public disapproval will commonly follow anything associated with raising taxes…

Tax Planning - Delaware CPA

Welcome to A Matter of Tax

Are you feeling overwhelmed by all the complicated tax regulations?  Looking for some indispensable understanding of tax compliance and planning?  You are not the only one! BLS has been listening and answering questions from clients and friends for over 90 years and we have decided to launch our latest blog, A Matter of Tax, to share these answers and to … Continued