The Artistic Works Exemption in CIS: What Contractors Need to Know
HMRC’s Construction Industry Scheme (CIS) excludes work that is purely artistic, meaning contractors do not need to apply CIS deductions to items such as freestanding sculptures or canvas murals that have no functional building purpose. By contrast, artworks that serve a building function—like stained‑glass windows, decorative tiling, or iron gates—remain within the scheme and attract the standard 0%, 20% or 30% deduction rates. Contractors bear the responsibility for classifying each piece, and mixed contracts that blend artistic and construction tasks can trigger CIS treatment for the entire agreement unless the artistic component is clearly separated. HMRC advises detailed contracts, explicit descriptions, and documentation to mitigate the risk of costly compliance errors.
The Shelter Debate
Recent Statistics Canada data shows 11.3 million Canadians contributed to retirement accounts in 2023, with 5 million using only a TFSA (median $6,500 CAD ≈ $4,750 USD) and 3.8 million using only an RRSP (median $3,420 CAD ≈ $2,500 USD). A further 2.5 million Canadians contributed to both,...
Cliff Planning Before Washington's 2028 Income Tax: How to Use 2026 and 2027
Washington will levy a 9.9% income tax on household earnings above $1 million beginning Jan 1 2028, making 2026 and 2027 the last years to recognize income without state liability. The article introduces “cliff planning,” a timing strategy that accelerates taxable events—such as...
Equipment Gains Not Automatically Farm Income for SDRP
The One Big Beautiful Bill Act (OBBBA) reclassifies equipment gains as farm income, but the change only takes effect for crop years beginning in 2026. Consequently, for the current Supplemental Disaster Relief Program (SDRP) years—2023 and 2024—equipment gains do not count toward the...
Washington Vs. California: Residency Safe Harbors Compared
Washington and California use vastly different residency safe harbors that can make or break a founder’s tax position when moving between the two states. Washington offers a statutory 30‑day rule that requires no Washington abode, an outside abode for the...
The Hidden Costs of Getting Tax Planning Slightly Wrong
Retirees often underestimate how small income shifts can trigger disproportionate tax consequences. A modest increase can push Social Security benefits, Medicare premiums, and investment income into higher tax brackets, turning an apparent 12% rate into an effective 20% or more....
Stop Flying Blind on Sales Tax: How RJM Tax Exemption Protects Shopify Brands From a Compliance Crisis
RJM Tax Exemption, a specialist compliance firm, helps Shopify brands navigate the four sales‑tax nexus triggers—economic, physical, affiliate and click‑through—that can create hidden liabilities once a seller exceeds $100 K in interstate sales or uses Amazon FBA warehouses. The firm offers...
Washington's Capital Gains Tax (Now Up to 9.9%): Residency Planning Before You Sell
Washington’s new capital‑gains excise tax charges 7% on the first $1 million of gain and 9.9% on any amount above that, creating a potential seven‑figure liability for founders selling stock or other intangibles. The tax applies only to sellers domiciled in...
QSBS Attestation Letter: What It Needs to Say
Qualified Small Business Stock (QSBS) benefits hinge on solid documentation, and the article breaks down exactly what a QSBS attestation letter must contain to survive an IRS audit. It warns that generic, one‑page letters are ineffective and outlines each statutory...
GLD Tax Treatment: Wash Sales, §475 MTM, and GLD Options (Section 1256 Vs. Section 1234)
The SPDR Gold Trust (GLD) is a grantor‑trust ETF whose tax treatment hinges on its legal structure. For most investors, GLD is viewed as property, so wash‑sale rules under §1091 generally do not apply. Traders who elect §475 mark‑to‑market can...
How the 2008 Farm Bill Helps Joint Filers Qualify for SDRP
The USDA’s Supplemental Disaster Recovery Program (SDRP) requires at least 75% of a household’s gross income to come from farming. Married couples filing jointly often fall short when one spouse earns significant off‑farm income. A provision in the 2008 Farm...
Can You Prove Your QSBS Will Hold Up?
Founders often assume their Qualified Small Business Stock (QSBS) automatically qualifies for the §1202 tax exclusion, but the benefit is fact‑intensive and subject to IRS scrutiny. To preserve eligibility, shareholders must retain a stock purchase agreement, certificate, and evidence that...
The Tax Trap That's Costing Your Clients Millions — And the One Tool That Breaks It
The Lead‑Lag Report is hosting a free, one‑hour webinar on May 5, 2026 to teach CFP® professionals about the 351 Exchange—a tax‑deferred strategy that lets clients move concentrated, appreciated stock into a newly created ETF without triggering capital gains. The session, co‑presented...
No, Washington Didn't Just Pass a Wealth Tax. Here's What It Did Pass.
Washington did not enact the touted "Capital Assets Ownership Tax" wealth levy. Instead, Governor Jay Inslee signed ESSB 6346, a flat 9.9% tax on household taxable income above $1 million, effective Jan 1 2028 with returns due in 2029. Earlier wealth‑tax bills (SB 5797...
Big Private Company Gain in Washington? Your 2028 Planning Window Is Closing
Washington will levy a 9.9% state income tax on taxable income above $1 million per household starting Jan 1 2028, adding a permanent annual drag for owners of late‑stage private‑company equity. The 9.9% capital‑gains excise tax has been in effect since 2025, so...