Tackling Taxes: The Evolving Taxation of the Marijuana Industry

The “legal” marijuana industry is one of the fastest growing in the United States. Total “legalized” sales of marijuana were $5.4 billion in 2015 and were expected to grow by 24% in 2016 to $6.7 billion. This number is expected to increase by approximately 34% each year, with projected 2020 legalized sales of approximately $21.8[…]

Partnership Form 1065, K-1 Filings Move Up 30 Days

  As we prepare for the 2017 tax season, Bronswick Benjamin would like to make sure you’re aware of important changes in due dates, including one that is moving up on the calendar to impact the vast majority of partnerships. Form 1065 (Return of Partnership Income) and Related Schedule K-1s. The 2016 Form 1065 for[…]

What Trump’s First 100 Days May Mean For Your Taxes

What will President-elect’s tax plan mean for your business and on an individual household level? BB takes a closer look at what the first 100 days of the Trump Presidency (and beyond) may imply for your plans ahead. On The Business Front: A 20% reduction of the corporate tax rate President-elect Trump has described a[…]

Recent Extension to the Application of the Work Opportunity Tax Credit

WOTC Additional Extension 2016 by www.bdo.com Congress recently extended the application of the work opportunity tax credit (the “WOTC”) to an employee who began working after December 31, 2014, and before January 1, 2020. Because the extension was not enacted until December 15, 2015, and the application for pre-screening an employee must be filed within[…]

The Affordable Care Act Six Years Later

Success or Failure? by John Green and Steven Shill, www.bdo.com The Affordable Care Act (ACA or, colloquially, Obamacare) was passed into law on March 23, 2010. To say that the ACA has generated a considerable amount of controversy over the past six years would be an understatement. The law has precipitated constant infighting between the[…]

IRS Phone Scam

Scam Alert: That’s Not The IRS Calling. We continue to see a rise in the number and sophistication of phone scams, with the IRS issuing a new alert we’d like to pass along to our valued clients of Bronswick Reicin Pollack. It’s important for you to understand the nature of this latest scam so you[…]