by Gayathri Indrakrishnan | May 27, 2026 | Uncategorized
*This guidance is based on CBP’s April 2026 CAPE/IEEPA refund guidance, current ACH refund enrollment rules, and general federal tax recovery principles as of May 15, 2026. Your facts may require coordination with your customs broker, trade counsel, and tax...
by Gayathri Indrakrishnan | May 22, 2026 | Uncategorized
Key TakeawaysAs of April 20, 2026, the Consolidated Administration and Processing of Entries (CAPE) tool is the exclusive electronic system for reclaiming IEEPA tariff duty payments. Importers must have an active ACE Secure Data Portal account and an authorized...
by Gayathri Indrakrishnan | May 15, 2026 | Uncategorized
Key TakeawaysFor 2026, the Section 179 immediate expensing limit has increased to $2.56 million, allowing businesses to write off the full cost of equipment, software, and vehicles in a single year. The 20% Qualified Business Income (QBI) deduction is now...
by Gayathri Indrakrishnan | May 15, 2026 | Uncategorized
Quick Summary: Could Changing My Business Entity Mean a Lower Tax Bill?As a Sole Proprietor or single-member LLC, you pay a 15.3% Self-Employment (SE) tax on your profit (up to the annual Social Security wage base of $184,500). By electing S-Corp status, you...
by Gayathri Indrakrishnan | May 15, 2026 | Uncategorized
Key TakeawaysYour business entity determines how you are taxed. Choosing the right structure can save you thousands of dollars in self-employment or double taxation. While Sole Proprietorships are the simplest to set up, LLCs and Corporations provide a corporate...
by Gayathri Indrakrishnan | May 14, 2026 | Uncategorized
Key TakeawaysOnly the Importer of Record (IOR) or an authorized customs broker can claim a refund. If a carrier like UPS or FedEx is the IOR, you must coordinate with them rather than filing directly with the CBP. Refunds are exclusively for IEEPA-related tariffs...
