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California Enacts SB 122 – Sales Tax Expansion to Digital Products Updates.
SALT Alert: California Enacts SB 122 – Sales Tax Expansion to Digital Products Updates

California Senate Bill 122 amends the California Revenue and Taxation Code (RTC) to expand the state’s sales and use tax base to include prewritten computer software transferred on tangible storage media, transferred electronically or accessed remotely, operative January 1, 2027. While the statute left a significant amount of operative detail to be developed, additional guidance…

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For musicians and entertainers who maintain a dedicated workspace at home, the home office deduction may provide valuable tax benefits when the applicable IRS requirements are met.
Home Office Deductions for Musicians and Entertainers: Eligibility, Expenses and Tax Considerations

Many musicians, entertainers and other creative professionals conduct a significant portion of their business activities from home. Whether the space is used for recording, rehearsing, content creation or administrative work, a home office may qualify for a tax deduction if specific IRS requirements are met. When Does a Home Office Qualify for a Deduction? Self-employed…

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auto mechanic at a dealership replacing a tire
New York Waste Tire Fee: What Out-of-State Auto Dealers Need to Know

Auto dealers that sell to New York residents should understand how the state’s waste tire management and recycling fee may apply beyond state lines. Here’s what out-of-state dealers need to know to stay compliant and avoid unexpected filing obligations. Who Must Collect the New York Waste Tire Fee? If you are an out-of-state tire service,…

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church steeple and roof with solar panels
Don’t Miss Out: How Not-for-Profits Can Capture Valuable Solar Tax Benefits

Many nonprofits are looking for ways to streamline operating costs and reinvest savings into their mission. Solar energy is becoming an increasingly attractive option thanks to new federal incentives. For years, nonprofits and governments couldn’t benefit from solar tax credits because they don’t pay federal income tax. Under the Inflation Reduction Act, tax-exempt organizations, including…

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bitcoin mining, trading chart, cryptocurrency illustration
New Crypto Disclosure Bill May Provide Relief for Taxpayers

A proposed federal bill could create a new pathway for taxpayers to address past digital asset reporting issues. Cryptocurrency taxation has been a source of confusion for investors since digital assets became mainstream. Many taxpayers have struggled with reporting requirements, particularly when dealing with activities such as trading, staking, airdrops and transfers across multiple platforms….

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Balance Scales Weighing Digital Data Charts, Representing Analysis and Comparison
Basket Swaps After SIH Partners Case

What Is a Basket Swap? For years, many fund managers and tax advisers viewed the 70/30 basket swap, a derivative that references a basket of securities rather than a single position, as a reliable way to manage investment risk while preserving the intended tax treatment of the underlying positions. The premise was straightforward: if a…

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