Blogs
Our Brand Has Evolved, LLC!
Evolved, LLC has recently undergone an exciting rebranding effort, and we are thrilled to unveil our new look and feel. Our new website, evolvedtax.com, showcases our refreshed brand identity and updated offerings. In this blog post, we’ll take a closer look at our...
Who Must File The Delaware Annual Franchise Tax Report Due March 1?
All active non-exempt domestic corporations incorporated in Delaware are required to file an annual franchise tax report and pay franchise tax electronically with the Secretary of State on or before March 1st1. The franchise tax is separate from state income tax and...
Are Cryptocurrencies Subject to Tax and Wash Sale Rules?
As the end of the year approaches, taxpayers look at their portfolio of investments and attempt to understand the applicable tax rules. One of the most researched topics is taxation of cryptocurrencies -- virtual currencies that act a medium of exchange and can either...
Everything You Need to Know About This Year’s 1099 Filing Season
The time has come to check all the boxes and get your company ready for a quick and smooth filing as Form 1099 filing season approaches in January. Is your business required to file form 1099-MISC and/or 1099-NEC? The short answer is YES, if you made any payments of...
New York City’s Proposed Secure Jobs Act May Drive Businesses Out of The City
New York is a long-established “at-will” state, where employment can be terminated at any time without notice, for any reason or no reason at all, as long as the action is not discriminatory or illegal. To prevent employers from terminating employees without a fair...
Schedule K-2/K-3 Domestic Filing Exception
The IRS introduced Schedule K-2 and K-3 with the 2021 tax filing year. The forms were designed to provide more information to taxpayers about reporting foreign activities and more specifically to provide the taxpayer with more detailed information to correctly...
Is Paying Passthrough Entity Tax a Smart Move for My Business?
Much to the dismay of taxpayers in high-tax states, 2017’s Tax Cuts and Jobs Act created a $10,000 cap on an individual’s itemized state and local tax (SALT) deductions. In response to this limitation, 27 states, including California, New York, New Jersey, and...
When Do I Have to Pay New York City’s Business Corporation Tax?
When Do I Have to Pay New York City’s Business Corporation Tax? New Economic Nexus Introduced in 2022 Affects Corporations with Property, Payroll or Sales in the City. In 2022, New York State enacted a law that aligns certain provisions of the New York City...
How Do I Choose the Right Legal Entity for My Startup Business?
If you’re starting a new business, one of your earliest, and most important considerations is picking the legal entity that best suits your endeavor. There are a handful of options available, each of which comes with distinct compliance requirements, tax...