Tax Issues Facing Small Business
Small business ownership is a good way to take more control of your time and puts more money in your pocket. But what is the true cost of…
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Foreign Accounts – Changes in Reporting
When most people think of foreign accounts, they think of ex-pat living overseas and utilizing banks for the accumulation of their payments. However, many taxpayers may also be…
Retiring? 3 Tax Concerns to Consider.
When we are working, taxes are a part of daily life and influence the considerations that we take in our spending habits. Once we start thinking about retiring,…
Kiddie Tax Changes: What You Need to Know
The Tax Reform Act of 1986 first brought about the concept of taxation on the investment and unearned income for those individuals over thirteen and under seventeen years…
Tax Reform and Transfer Pricing Issues For Small Businesses
The Tax Cuts and Jobs Act (TCJA) tax reform and transfer pricing questions have become hot topics. However, as publications such as Tax Notes have observed, there is…
Tax Planning After the Tax Cuts and Jobs Act (TCJA)
Tax planning will become more important than ever now that the TCJA has completely transformed the tax code landscape. There are significant implications for tax planning on every…
Are Entertainment and Client Meal Expenses Deductible Under TCJA?
With such sweeping changes coming in with that Tax Cuts and Jobs Act (TCJA), there has been a fair amount of confusion with how certain deductions are handled.…
Tax Reform Impact on Meals, Entertainment, and Automobile Parking
If you’ve formed certain habits related to how you handle meals, entertainment, transportation, and parking as it relates to your business and taxes, the time to change those…
How are Nonprofits Affected by The Tax Cuts and Jobs Act?
After a lengthy process, Congress and the President did what they had to do in late December 2017 to put into law one of the most significant pieces…
The Down and Dirty On The New Tax Rules and Estate Planning
Most articles about the passage of the Tax Cuts and Jobs Act in December buzz about the resulting income tax consequences for individuals and businesses. But what about…
Tax Reform And Cash Management Considerations For Clients
A recent interview style Q and A session appeared in Accounting Today featuring the expertise of author Iralma Pozo. In this series of questions, Pozo tackles some important…
Additional Details About the Tax Reform Act
In last month’s newsletter we presented some general facets of the Tax Cuts and Jobs Act (TCJA). In this article, we will explore some portions of the new…
President Trump’s "Tax Cuts and Jobs Act"
President Trump signed the "Tax Cuts and Jobs Act" into law on Dec. 22, as noted and summerized from a report by Investopedia. The Senate passed the bill…
What You Need to Know About The “New Tax Reform Framework”
On September 27, 2017, the Trump Administration and select Republican members of Congress released a “unified framework” for tax reform. The document provides more detail than a number…
Trump Tax Reform – Pass Thru Update
Trump administration officials and congressional Republican leaders are negotiating the terms of a tax reform bill. While they have not introduced legislation or a detailed plan, here are…
Worst Small Business Taxation Mistakes
Although the official tax filing date has passed us by, the subject matter of this blog is still relevant because many taxpayers have filed extensions and have a…
Common Tax Time Mistakes to Avoid
“And they’re off!” If you’ve ever been to a horse race, the phrase should sound familiar. Those words apply now: the rush to file a complete and accurate…
Ten Things You Need to Know About Passport Restrictions on Delinquent Taxpayers
Since 2015, when the Fixing American’s Surface Transportation Act was passed by Congress, world travelers who owe the IRS money have found that it’s no fun to owe…
Know Your Tax Responsibilities
It is crucial to understand your small business’s tax responsibilities, and there are real risks if you do not. Mismanagement of your tax obligations can ultimately lead to…
The Importance of Tax Planning
Many people use the term “tax planning,” but it is often misunderstood. It is the art of learning how to manage your affairs in ways that postpone or…
Answers to Frequently Asked Questions for Individuals of the Same Sex Who Are Married Under State Law
The following questions and answers provide information to individuals of the same sex who are lawfully married (same-sex spouses). These questions and answers reflect the policy outlined in Revenue…
Update Of Key 2016 Tax Figures
The following 2016 information is an update of the “Preview Of Some Key 2016 Tax Figures” article originally published last October (2015). The October 2015 publication was presented…
The PATH Act
Near the end of last year (December 2015), as PR News Wire notes, Congress passed and President Obama signed into law the Protecting Americans from Tax Hikes (PATH)…
Preview of Some Key 2016 Tax Figures
It’s never too early to begin detailed planning for next year’s taxes -- especially as we head into the final stretch of 2015 and get a better look…