Deep Gujral

What is a 351 Transfer? 🏢 💵 - A 351 transfer, also known as a Section 351 transfer, is a provision in the U.S. tax code that allows individuals or entities to transfer property to a corporation without triggering immediate tax consequences. Section 351 transfer is not limited to C corporations. It applies to both C corporations and S corporations. - This tax-deferral mechanism is often used when a person or group of individuals is forming a corporation or contributing additional assets to an existing corporation. - The primary idea behind a 351 transfer is that, when done correctly, the transferors (those providing the assets) do not have to recognize any gain or loss at the time of the transfer. 📖 In our recent blog, we explore what the requirements are, the advantages, and the disadvantages. Click the link below to read and feel free to contact us with any questions! https://lnkd.in/eAcjee7T Asset Strategy #TaxPlanning #351Transfer #TaxStrategy

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Recent law changes have left businesses struggling to navigate the complexities of determining, quantifying, and documenting the tax treatment of their software development costs. "Whether a company is claiming the R&D credit or determining software development costs for tax purposes, having accurate and reliable contemporaneous quantitative and qualitative documentation readily available is of the utmost importance," explains Bill Barnes, Tax Partner at CFGI. Dive into our Q&A with Bill to learn how to navigate these challenges effectively!💡👇

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𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐲𝐥𝐚𝐧𝐝 𝐓𝐚𝐱 𝐋𝐢𝐞𝐧 𝐀𝐮𝐜𝐭𝐢𝐨𝐧𝐬 Are you ready to invest in Maryland tax liens? This blog provides essential guidance to help you succeed, offering a step-by-step approach to navigating the auction process and managing your investments. 🔹 Tax Lien Process: Gain a thorough understanding of Maryland's tax lien system. Learn about the legal framework, redemption periods, and interest rates, and understand how these factors influence your investment strategy. 🔹 Property Research: Master the techniques for researching properties to identify the best investments. Effective research involves assessing property values, checking for existing liens or encumbrances, and understanding the local real estate market. 🔹 Auction Tips: Learn how to prepare for auctions with effective budgeting and bidding strategies. This includes setting a maximum bid based on thorough research, understanding the competitive landscape, and employing strategic bidding techniques to secure profitable liens without overpaying. 🔹 Investment Management: Get tips on managing your tax lien investments after the auction to maximize returns. Post-auction strategies include monitoring redemption statuses, managing foreclosures if necessary, and planning for potential property improvements or resale. Find the full blog in the comments. Want to learn more? Visit Tax Sale Resources: https://lnkd.in/g5UpWwRJ This blog is a valuable resource for both new and experienced investors. Share your insights and questions in the comments, and join the conversation on best practices for tax lien investing in Maryland. #TaxLienInvesting #MarylandRealEstate #InvestmentAdvice #AuctionPreparation #PropertyResearch #LinkedInLearning

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We asked our compliance team to help us rank the Top 5 best and worst compliance websites. Drumroll please for the Top 5 Worst Compliance Websites of 2024! The confusing maze-like New York website starts at number 5😵. Even the most experienced tax pros struggle to navigate through its twisted corridors. Number 4 goes to the state that hasn't updated its interface in ages… Missouri! 🎉 Who else loves uploading an EDF file unsuccessfully every single time? 🤣 And don't get us started on having to file as a "guest." Coming in at number 3 is North Carolina! The Tar Heel State did us dirty with no way to look at the history of the account, no way to amend returns online, and absolutely no communication through the site to the DOR! Come on North Carolina this effort is...less than spectacular. Who’s second to worst? It's Florida at number 2! Who doesn't love a challenging puzzle when trying to calculate prepayment? Not to mention, it rivals North Carolina in antiquity. 👵 And now, for our champion in painful online tax experience, drum roll please🥁…Maryland! Thanks to their "new and improved" platform, Maryland has surpassed even Missouri's lowest website offenses. Navigating this site is like competing in an obstacle course blindfolded. Congratulations to all our "winners". We beg you to summon a 21st Century revamp – the tax-paying community is depending on you to "TAP that website?" 😉 #TaxingPoetic #Top5Worst #SynexiesWebAwards2024

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Join the NTLA's WITS Committee for a complimentary webinar on 🔵 Lifecycle of a Tax Lien: Tax Lien Redemption August 7th at 6 pm ET Register: https://lnkd.in/eSKeNbmm In this webinar, you'll learn: Understanding the Redemption Process: Gain a clear overview of how property tax lien redemption works, including key steps and timelines involved. Exploring Redemption Options: Learn about different strategies and options available to property owners and investors during the redemption period. State-by-State Variations: Discover how redemption laws and procedures differ across various states, and what that means for your investment strategy. Navigating Legal and Financial Implications: Get insights into the legal and financial aspects of tax lien redemption, including potential pitfalls and best practices. Maximizing Redemption Outcomes: Find out how to effectively manage and optimize your tax lien investments during the redemption period to achieve the best possible returns. Host: Laura McNellis, CTLP® | NTLA President | President, McSully Properties Moderator: Brenda Flatter | NTLA Board Member | VP of National Sales, US Tax Deed Solutions

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Layer Financial is redefining accounting software redifining SMB accounting by integrating directly with platforms like Square and Toast. This embedded solution promises to streamline accounting processes for SMBs, challenging QuickBooks' market dominance by simplifying financial management directly within operational systems. #Fintech #StartupSuccess #InnovationInAccounting #SMBs #FinancialTech https://lnkd.in/d3QdJWw5

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How are you handling your US Tax Processing this year? 🤔 If you're ready to cut down time and effort, check out the TruCap+ Marketplace! 💡 With pre-built, customizable document frameworks, you can fast-track your tax workflows and automate the heavy lifting. From ready-to-use templates to tailored solutions—what will you explore first? 🚀 Tell us what document model you're looking for, and let’s get your tax processing running smoother than ever! 💼💻 Visit Marketplace - https://lnkd.in/d7PDbcHn #TaxAutomation #USTax #TruCapMarketplace #AutomationJourney #TaxSolutions

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It’s Day 2 of Exactera Tax Provision Week! At 1 pm every day, we’re showing how our software streamlines the tax provision calculation. See seamless trial balance imports, informative dashboards, and features like the audit trail, which tracks users, adjustment types, and entities for auditors. Don’t miss out!      📅 Sign up for a tour: https://lnkd.in/gCq_YiiH      #TaxTech #ProvisionSimplified #ExacteraProvisionWeek2024  

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Here's some good news: advising clients on LLC formation just got easier! With the help of accountant-specific tax software, advising clients on LLC formation can be seamless and efficient. Want to find out how? Here is an article that explores how these tools help accountants offer expert advice, ensuring clients maximize tax benefits from day one: https://lnkd.in/ezXn8VtJ #TaxAdvisory #LLCFormation #AccountingTools #TaxPlanning

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Avalara Simplifies Tax for Software Businesses Manage Nexus and Enhance Productivity Since 2023, there have been more than 100,000 tax law changes across 13,000+ jurisdictions across the U.S. – and not all align neatly to zip codes. Avalara tracks tax law changes and applies them automatically to your business, and even integrates the updates into ERP and CRM data. Software particularly can be taxed using more than 450 unique methods across numerous categories. Avalara automatically ensures that software products are taxed accurately, and provides real-time alerts when nexus triggers are close to occurring so businesses are not blindsided. When it becomes a burden to manage the subsequent returns and time is absorbed by unlimited tax tasks and return preparation, it may be time to learn how Avalara automates the process. At Rapid Cloud Partners, we specialize in NetSuite Avalara setup designed to streamline operations and improve compliance. Ready to unlock the power of Avalara?  Schedule a call with RCP: https://lnkd.in/eVxwPHJY Avalara #RapidCloudPartners #AvalaraPartner #Avalara #Software

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𝐌𝐚𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐅𝐥𝐨𝐫𝐢𝐝𝐚 𝐓𝐚𝐱 𝐒𝐚𝐥𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠: 𝐘𝐨𝐮𝐫 𝐔𝐥𝐭𝐢𝐦𝐚𝐭𝐞 𝐆𝐮𝐢𝐝𝐞  Are you curious about the lucrative world of Florida tax sale investing? This blog is a comprehensive guide designed to help you confidently navigate this investment opportunity. This blog covers the key aspects of Florida tax sale investing and provides expert strategies to help you maximize your returns. Here’s what you'll learn: 🔹The Florida Tax Sale Process: Understand the step-by-step process of how tax sales work in Florida. 🔹Effective Property Research: Discover effective methods for researching properties to make informed bidding decisions. 🔹Strategic Bidding Tips: Learn how to bid strategically to enhance your investment potential. 🔹Managing Redemption Periods: Get insights on monitoring and managing redemption periods effectively. 🔹Navigating Foreclosures: Master the foreclosure process and learn how to acquire property titles efficiently. Whether you’re a seasoned investor or just starting, our guide has actionable tips and insights to help you succeed in the Florida tax sale market. Link to the full blog in the comments. What strategies have you found most effective in Florida tax sale investing? Share your thoughts and experiences in the comments. Stay ahead in your investment game with our latest insights. For more expert advice, visit our website: https://lnkd.in/gXmcuGNS #FloridaTaxSale #RealEstateInvesting #SmartInvesting #TaxSaleResources #InvestmentSuccess #TaxDeeds #TaxLiens #TaxSaleInvesting