On June 21, the Supreme Court issued their decision in South Dakota v. Wayfair Inc. and overturned the physical presence requirement for sales tax nexus established in Quill. This victory opens the door for states to tax remote sales by sellers who do not have physical presence in their states. This landmark decision may create serious sales tax compliance issues for your business if you sell products and services to customers across the U.S.

Click below for more information and the latest sales tax news and developments related to the Wayfair decision. 

Tronconi Segarra & Associates LLP announced that John J. Callahan, CPA, and Thomas E. Mazurek, Jr., CPA have been named Partners of the Firm. Both Mr. Callahan and Mr. Mazurek were Principals of the Firm prior to their being named Partners.

Mr. Callahan joined Tronconi Segarra & Associates in 2001 as a Manager in the Firm's Tax Department. Prior to joining Tronconi Segarra & Associates, Mr. Callahan worked in public accounting firms in Ithaca and Rochester, New York. He focuses his practice on tax consulting, planning and compliance for domestic and international business and individual clients. Additional information about Mr. Callahan may be found here. 

Mr. Mazurek joined Tronconi Segarra & Associates as a Senior Manager in the Firm's State & Local Tax practice group in 2007 after beginning his career in public accounting with the Buffalo office of Ernst & Young LLP in 1997. He focuses his practice on State & Local Tax/Sales & Use Tax, including sales tax audit representation, nexus issues, sales tax consulting and more. Mr. Mazurek's full bioigraphy may be found here.

The Partners and Associates of Tronconi Segarra offer their sincere congratulations to both John and Tom.

Tronconi Segarra's Lisa Mrkall spoke with Business First to provide a measure of understanding about this concept, which was announced with very few details.

Tax pros Mark Tronconi and Tom Mazurek were interviewed on Tuesday, December 26, 2017, by WIVB anchor and reporter Marissa Perlman @MPerlman4 to discuss the pros and cons of Gov. Cuomo's Executive Order allowing taxpayers to prepay 2018 property taxes before 12/31/17. See the interview as archived on the WIVB website.

The sweeping Tax Cuts and Jobs legislation that was signed into law on December 22, 2017 promises to have an impact of virtually every American. How might it impact you? Are there actions you can take before December 31, 2017, to maximize the benefits of the current tax law? And what opportunities might the new law bring, once it goes into effect January 1, 2018?

Two key articles in the latest issue of our Small Business newsletter include a side-by-side comparison of the differences between the House and Senate tax reform bills, and helpful information for taxpayers impacted by a natural disaster. Read the newsletter, as well as our annual Payroll/Form 1099 Update, here.

Alyce Notaro, Senior Tax Manager at Tronconi Segarra & Associates, will be the guest speaker at the January 9, 2018 Annual Tax Update meeting of the Accounting & Financial Women's Alliance (AFWA) to be held at Brennan's at Main & Transit in Williamsville. Click the button below for details and registration. (You will be redirected to the AFWA's website.)

Despite efforts to repeal the Affordable Care Act (ACA), the law is still intact, as are the ACA reporting requirements for certain employers. Enactment of the ACA created reporting requirements under Internal Revenue Service (IRS) code Sections 6055 and 6056. Under these new reporting rules, applicable large employers (ALEs) – those with 50 or more full-time employees – are required to provide information to the IRS and to their full-time employees on health plan coverage the employer did or did not offer to employees.

Many more states and the District of Columbia are jumping on the online marketplace seller voluntary disclosure initiative, offered for a very limited time. Read more to learn whether the states in which you have or may have nexus are participating, and the eligibility criteria.

Please contact Tom Mazurek, CPA, Principal here at Tronconi Segarra & Associates, if you have any questions or would like assistance determining whether your business is eligible to take advantage of this voluntary disclosure program.

Tom Mazurek - 716.633.1373, tmazurek@tsacpa.com