Tax Tips & Triage – The “Wayfair” Case

Todd Suchevits Sales Tax, Tax Planning, Tax Strategy

SCOTUS Decided! But what does “Quill” or “Wayfair” Even Mean? I’m sure your email has been deluged with talk of “SCOTUS” deciding for “South Dakota” and against “Wayfair”, meaning that “Quill” has been overturned – and that “online retailers” beware! But what does all this really mean? Considering the shift from brick and mortar to online retail, states have been …


Startup Tax Tips and Triage – Employee Gifts

Stephen Day Tax Planning, Tax Strategy

Startup CEO: Happy holidays! Startup Code Head: Thanks, boss. A gift card for $24.99… what gives? Startup CEO: More than that and you’ll get taxed on it. Startup Code Head: Who knew? Thanks! VPTax: Technically, $25 would have been OK. But any more than that and the “gift” turns into taxable compensation. Sure, it’s nice to give. But it’s nicer …


Startup Tax Tips & Triage – Convertible Debt

Stephen Day Corporate Tax, Tax Planning, Tax Services, Tax Strategy

Investor: I’m in! But let’s do it with convertible debt. Startup CEO: But we get the money, right? Investor: Of course, this is just a way to manage risk and keep things flexible. Startup CEO: Cool! When do we get the money? VPTax: Not so fast. Although convertible debt is on occasion a preferred way to secure outside investment there …


What California Pre-revenue Companies Need to Start Now to Preserve State Net Operating Loss Carryforwards

Tom Brehmer Income Tax, Tax Planning, Tax Services, Tax Strategy

If you are a pre-revenue CA domiciled company with employees in other states, you need to sell something before December 31, 2016. Not sure what to sell? Keep reading… Last week, I went to battle with Big Accounting over the reporting of California net operating loss (NOL) carryforwards. My client has one office… in CA; has 98% of its employees …