Richard S. Calabrese, Jr.

Richard S. Calabrese, Jr.

Associate

Estate Planning & Administration of Estates & Trusts • Taxation • Tax Assessment Appeals & Property Tax Exemptions • Corporate, Business & Banking

Richard S. Calabrese, Jr.
Jan. 31, 2020

Pennsylvania Becomes an Early Adopter of Economic Nexus Standards

In 2018, the United States Supreme Court issued a landmark decision in South Dakota v. Wayfair, Inc. (“Wayfair”). In Wayfair, the Court overturned decades of existing precedent by ruling that states could impose sales tax collection (and other requirements) on out-of-state retailers who only conducted online sales in states without maintaining a physical presence. The […]

Richard S. Calabrese, Jr.
Jan. 21, 2020

Federal Qualified Opportunity Zones Guidelines Finalized

On December 19, 2019, the United States Department of Treasury finalized regulations providing guidance regarding investments in Qualified Opportunity Zones (QOZ(s)).  In order for individuals (or businesses) to invest in these QOZs (several of which are located in the Lehigh Valley) they must first form a qualified opportunity fund (QOF).  A QOF can be most […]

Richard S. Calabrese, Jr.
Aug. 7, 2019

Partnership and LLC Audits are Coming – Be Prepared

A few weeks ago I traveled down to Washington, D.C., where I did what everyone does when they visit our Nation’s Capital…attend a national tax conference for 16 hours over two days. The highlight of my trip was not the legislative tax updates, the best practices on how to achieve capital gain treatment on asset […]