Making Dollars and Sense Out of Opportunity Zone Funds

Opportunity Zones have certainly been a hot topic since Congress passed this incentive under the Tax Cut & Jobs Act. Investment of gain proceeds into a Qualified Opportunity Zone Fund (QOF) within 180 days of a taxable gain event such as a stock or real estate sale can defer capital gain recognition until as late [...]

2019-08-14T12:38:02-04:00August 14th, 2019|Categories: News, Newsletters|

New Sales Tax Economic Nexus Standard Affirmed in Groundbreaking U.S. Supreme Court Ruling

On June 21, 2018, the U.S. Supreme Court issued its decision in the South Dakota v. Wayfair, Inc. case with a 5-4 majority decision overturning precedent set by Quill Corp. v. North Dakota (1992). The decision upheld South Dakota’s economic nexus law, which requires companies to collect sales tax when their sales or the number [...]

2018-07-04T06:53:36-04:00July 2nd, 2018|Categories: News, Newsletters, Sales Tax|

Georgia Rural Hospital Credit

In 2016, the Georgia General Assembly passed legislation that awards Georgia income tax credits to taxpayers who make contributions to qualified rural hospital organizations (“RHOs”) located in Georgia. This program became effective January 1, 2017 and extends through 2021 and includes 58 approved rural hospitals. The program allows taxpayers to make donations to RHO’s in [...]

2018-06-15T07:49:36-04:00June 15th, 2018|Categories: Individual Taxes, News, Tax Credits|

Estate Tax Exemption Portability – Relief from missed portability election recently granted by IRS under Rev Proc 2017-34, but some estates will need to act quickly!

Internal Revenue Code 2010(c) grants a surviving spouse’s estate the ability to utilize unused estate tax exemption amounts from the estate of the first spouse to die in certain situations.  This has been a most welcomed estate and gift tax management tool in recent years.  In many cases it has simplified estate planning for married [...]

2017-08-29T18:42:37-04:00September 12th, 2017|Categories: Estate Taxes, News, Newsletters|

CoNexus CPA Named One of The Best Places to Work in Georgia

At 8:30 a.m., the lights turn on at the office shadowing SunTrust Park. The hustle and bustle of Atlanta begins —car horns, whistles and cheers surround the new Atlanta Braves stadium. However, that is nothing compared to the energy that flows throughout the office of CoNexus CPA Group. CoNexus prides itself on upholding a team [...]

2017-08-29T18:41:16-04:00August 30th, 2017|Categories: News, Newsletters|