Current developments in federal, state, and local tax issues for law firms

As law firms continue to expand their reach geographically with new offices and electronically with work for clients at a distance, the consideration of the impact of state and local taxes on the firm and the partners/shareholders is too often overlooked. As state and local governments continue to look for revenue, they are stepping up enforcement of tax laws against non-residents. This is creating a greater administrative burden on the accounting departments of law firms, as well as creating additional compliance issues for their partners/shareholders. In addition, there are federal tax matters that have been a hot topic for law firms, including the anticipated tax extenders.

Baker Tilly discusses best practices to help you understand the current developments in tax matters that are pertinent to law firms. View the presentation slides and watch the webinar recording for insight on the following topics:

  • Federal due date changes
  • Current status of extenders legislation
  • Recent trend towards economic nexus
  • Sourcing of revenues, including recent state regulations
  • Apportionment of income
  • Impact of telecommuters

Download the presentation: Current developments in federal, state, and local tax issues for law firms >

For more information on this topic, or to learn how Baker Tilly professional services specialists can help, contact our team.

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely.  The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.