Eric Gelb

📢 FBR Announces New Withholding Tax Rates on Rental Income for Tax Year 2025–26 The Federal Board of Revenue (FBR) has issued updated withholding tax rates on rental income from immovable properties under Section 155 of the Income Tax Ordinance, 2001. These rates apply to individuals, AOPs, and companies earning rental income across Pakistan. ✅ Who Must Deduct Withholding Tax? Every “prescribed person” making full, partial, or advance rent payments is required to deduct tax on the gross amount of rent, which includes charges for furniture, fixtures, or related services. Prescribed persons include: ✔ Government (Federal, Provincial, Local) ✔ Companies & Non-Profit Organizations ✔ Charitable Institutions & Foreign Diplomatic Missions ✔ Private Educational Institutions, Boutiques, Beauty Parlours, Hospitals, Clinics & Maternity Homes ✔ Individuals or AOPs paying annual rent of PKR 1.5 million or more ✔ Any person notified by FBR 🔍 Differential Rates Apply - ATL taxpayers enjoy lower rates - Non-ATL taxpayers face higher rates as a compliance penalty Why the Change? The FBR aims to: ✔ Strengthen documentation of rental income ✔ Boost revenue collection ✔ Encourage property owners to join the Active Taxpayers List (ATL) for reduced tax deductions Stay compliant and ensure accurate tax deductions on rental income! #FBR #TaxUpdate #RentalIncome #WithholdingTax #PakistanTax #MSHConsultancy

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⚠️ MCA Extends Annual Return Filing Due Date to December 31st, 2025 MCA has extended the due date for filing Annual Returns (Form MGT-7/MGT-7A and AOC-4/AOC-4 XBRL) for the financial year 2024–25. Companies now have until December 31, 2025, to complete their filings without facing additional late fees. This extension comes as part of MCA’s efforts to provide compliance relief and ease regulatory burdens for companies and LLPs. The extension applies to all eligible entities registered under the Companies Act, 2013, and is expected to benefit a wide range of businesses, especially startups and MSMEs. Stakeholders are advised to utilize this extended timeline efficiently to ensure accurate and timely filing. Failure to file by the new deadline could still result in penalties and late fees post-December 31st, so companies must not delay the compliance process unnecessarily. For more details, refer to the official MCA notification attached below. #MCA #Finance #Company #Annualreturn #compliance #Startup

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Smart insights from Charles Tuttle. Sales tax has a habit of staying quiet early and getting very loud during diligence. Investors tend to care once sales tax exposure stretches across years, states, and assumptions that no one remembers making. The companies that age well treat sales tax like infrastructure. Built early. Designed to hold up. Quietly doing its job while everyone else focuses on growth. 🧠 Worth thinking about. #salestax #duediligence #enterprisevalue #CereTax

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Federal estate tax planning just became less urgent for many clients. Massachusetts estate tax planning did not. With the federal exemption at $15M per person and Massachusetts holding at $2M, the real drafting question is... Are you sacrificing a full step-up in basis to save Massachusetts estate tax? That tension changes how joint trusts should be structured. It changes how you use MA-only QTIPs. It changes how you coordinate retirement assets in the post-SECURE landscape. And for many middle-class clients, long-term care exposure may now outweigh estate tax risk entirely. If you draft estate plans in MA, this is not theoretical. It directly affects how you structure documents. We’re breaking down the mechanics and statutory support behind these strategies. Register here: https://lnkd.in/eEJ9yeN9

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⭐ In Case You Missed It: Last Week in Allyn Tax News ⭐ Allyn Tax Terms – https://lnkd.in/eiAK7ZdT Happy Monday! Are you ready for another Allyn Tax term spotlight? Major Update: Rhode Island Broadens 1099 Reporting Obligations - https://lnkd.in/eAVQy5eg The Rhode Island Division of Taxation has issued updated guidance significantly expanding the state’s Form 1099 filing requirements beginning with tax year 2025. Ask An Expert - https://lnkd.in/e6cf3dUj Do you have a complex tax question you wish could be answered in less than 24 hours? Ask your question to Allyn tax experts here: https://lnkd.in/eMTnUw3y Excise Tax: The Hidden Cost You’re Paying on Gas, Alcohol, and Soda - https://lnkd.in/egtyryUD Excise tax is an indirect tax imposed on specific goods, services, or activities — not on general sales like typical sales tax. It applies to products such as gasoline, alcohol, tobacco, soda, airline tickets, and insurance premiums. Unlike sales tax, which appears separately at checkout, excise tax is included in the product price — meaning it’s already been paid by the manufacturer or supplier and passed down to the consumer.

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After three weeks of warning about an impending budget deficit and over the concerns of the business community, Delaware lawmakers are looking to decouple from the federal tax code for key provisions of corporate income tax cuts. #netde #Delaware #taxcode https://lnkd.in/gzmPJC4a

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We broke down key 2026 federal tax limits that every T&E professional should have on hand and know. This quick reference is to help you stay ahead in planning and advising clients under the new thresholds, now in effect for this year. 📌: https://lnkd.in/eesc9Wij (FYI: At the link is an easy downloadable version of the snapshot)

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The Next New Jersey Manufacturing Program provides a new path for manufacturers to access transferable tax credits based on capital investment and job creation, with a structure that changes how companies evaluate eligibility. Our blog covers an overview of the program, including benefits and eligibility: https://bit.ly/3QKZXva

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2025 SALT Changes & Why PTET Still Matters for Cross-Border Clients For firms advising US-connected clients, 2025 brings a notable shift: Congress raised the State and Local Tax (SALT) deduction cap on July 4, 2025 but the Pass-Through Entity Tax (PTET) remains one of the most effective planning tools in many states. PTET allows S-corps, partnerships, and certain LLCs to pay state tax at the entity level, making the payment deductible federally and potentially saving thousands. With state election deadlines varying - some early in the year, others mid-year - timing is critical. For cross-border advisors, this is more than a domestic tax update: Clients relocating to or splitting time between the US and other jurisdictions can face complex residency and multi-state tax scenarios. PTET elections can be integrated into broader international tax structuring to reduce global effective tax rates. Awareness of state-specific deadlines can position your firm as the go-to for proactive, year-round planning. If you work with clients tied to US pass-through entities, how do you see PTET fitting into your 2025–26 planning strategies? #WONEGlobal #TaxAdvisory #SALTcap #PTET #UStax #CrossBorderBusiness #MembershipOpen #JoinWONEGlobal

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New Jersey just reminded sellers that markup practices can carry tax consequences. In its latest guidance, New Jersey clarified how sales tax tariff markups should be treated for tax purposes. When sellers increase prices to cover tariff costs, the question becomes whether the full amount collected is part of the taxable base. New Jersey’s position confirms that in many cases, the markup is included in the taxable receipt when tariff costs are passed along to the customer. This matters because many businesses adjust pricing to recover tariff expenses without considering the sales tax impact. If you add an amount to your sales price to offset tariffs, that increase can become part of the amount subject to sales tax in New Jersey. For tax teams, this is a reminder that transaction structure and pricing decisions directly influence tax calculation. It is not only about what the charge is called, but whether the state views it as part of the total consideration paid for the product. If you sell into New Jersey, now is a good time to review how tariff-related price adjustments are treated in your tax engine and billing systems. Confirm that your configuration aligns with this guidance so tax is collected and reported correctly. Have tariff-related pricing changes created compliance challenges for your team? How are you handling them across different states? Read the full update here: https://lnkd.in/ekG5r-ZR #SalesTaxNerd #NewJerseyTax #SalesTaxCompliance #Tariffs #IndirectTax

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CSI Group Continues Strategic Expansion with the Acquisition of Two Established Tax Firms CSI Group continues to grow with the acquisition of two established tax firms: Theodore W. Angowski, CPA, LLC in West Orange, New Jersey, and J.D. Pantzis CPA PC in Brooklyn, New York. These acquisitions represent another important step forward in our vision to become the most trusted financial partner on every Main Street in America, expanding our reach while preserving the local relationships and personalized service our members value. Through these acquisitions, we are now able to offer the full CSI 360 experience to even more members, delivering integrated tax, advisory, financial, and estate planning services in a seamless, member focused way. We are proud to welcome these teams into the CSI family and look forward to continuing to deliver exceptional, integrated services to the communities we serve.

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EisnerAmper to add valuation & forensic firm: The Top 25 Firm will acquire KLG Business Valuators & Forensic Accountants in a deal expected to close this May. http://dlvr.it/TRyRt4 #EisnerAmper #BusinessValuation #ForensicAccounting #MergersAndAcquisitions #AccountingNews

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