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Change in Sales and Use Tax Affects Contractors, Municipalities and Nonprofits

Change in Sales and Use Tax Affects Contractors, Municipalities and Nonprofits

By Susan G. Schellinger Certain local Wisconsin governmental entities and nonprofit organizations have historically been exempt from payment of sales and use tax. Under a change in Wisconsin law which took effect on January 1, 2016, contractors may purchase construction materials on behalf of certain tax-exempt entities and organizations without...

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Businesses Can Lower Domain Name Acquisition Costs Via Amortization

The IRS recently concluded that certain domain names have to be capitalized as intangible assets and amortized over a 15-year period under Section 197 of the Internal Revenue Code. This means that a business that acquires qualifying internet domain names will be able to realize financial benefits by recapturing 100% of the purchase price through...

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