Tag Archives: State & Local Tax

C-Corporations and Pass through corporations can contribute to the Georgia GOAL Scholarship Program and receive a much needed benefit.

Corporations can receive a tax credit for amounts contributed to the GOAL Scholarship Program and many corporations have done so. For “C” corporations, the tax credit is available up to 75% of their annual Georgia income tax liability. Owners of … Continue reading

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Tax Credits for Real Estate Investors

For real estate investors, tax credits can be tricky.  Most investors can save more by classifying fix-ups as deductible repairs rather than depreciable improvements.  But in the case of rehabilitation and renovation expenses this may not be the case since … Continue reading

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IRS To Delay Start Of Tax Filing Season By Two Weeks

There seems to be more fallout due to come from the government’s partial shutdown: Early tax filers will have to wait an extra week or two to get tax refunds next year. The Internal Revenue Service said Tuesday it will … Continue reading

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Sales Tax Holiday For Certain Energy Efficient Products

The State of Georgia has a sales tax holiday for certain energy efficient products on Friday, October 4 through Sunday, October 6, 2013.  The items that will qualify are certain ENERGYSTAR® or WaterSense labeled products that have a purchase price … Continue reading

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Filing Status Update for Legally-Married Same-Sex Couples

On August 29, 2013, the IRS issued a Revenue Ruling 2013-17, which permits same-sex couples who enter into marriages, in jurisdictions that recognize such marriages, to be treated as married for federal tax purposes. Legally-married same-sex couples generally must file … Continue reading

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Georgia “GOAL” Passes New Higher Limits for Pass Through Entities

On May 8, 2013, Governor Deal signed into law new legislation which allows the owners of pass-through entities to receive a Georgia income tax credit for up to $10,000 for QEE credit (aka GOAL Scholarship Program). Under this QEE credit … Continue reading

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Georgia & South Carolina Do Not Adopt American Taxpayer Relief Act

If this tax season does not get more confusing.  Georgia, South Carolina and a number of other states have not adopted legislation to conform with Federal Law, specifically the American Taxpayer Relief Act passed on January 2, 2013. Georgia & … Continue reading

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Employers in 19 states may face higher 2012 FUTA rates

As you may recall from last year, state which are in default of their federal unemployment insurance (UI) loan for at least two years are not eligible to claim the maximum amount of state unemployment tax credits on their 2012 federal … Continue reading

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GOAL Scholarship Funding Limit Reached for 2012

As our Georgia clients are aware, there is a state program which allows its taxpayers to obtain an education expense credit for contributions to qualified scholarship funds (usually referred to as the GOAL scholarship for the largest student scholarship organization). Under … Continue reading

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Get ready for tax increases in 2013 under Affordable Care Act

Even if Congress were to somehow solve its tax extender problems and kick all the Bush Tax cuts sunsets down the road for another year, the fact remains that under the Affordable Care Act (“Obamacare”), a number of important tax … Continue reading

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