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Tax Planning & Preparation, Business Advisory Services, Business Income
March 15th Due Date for Returns Extended to March 20, 2018 for Some
Mar. 15, 2018
The ... View Article>
Tax Planning & Preparation, Litigation and Business Valuation, Personal and Fiduciary Income, Business Valuation, Family Law
Mar. 13, 2018
In John R. Kirkpatrick v. Commissioner, TC Memo 2018-20 , Code Sec(s) 408, John was to transfer funds to his spouse. John took a distribution from the IRA and then wrote a check to his spouse for the amount of the distribution. The IRS determined that John received a taxable distribution. The U.S. Tax Court upheld the IRS. if a taxpayer take... View Article>
General Discussion, Tax Planning & Preparation, Business Income, Personal and Fiduciary Income
Be Aware of Scams and Emails Posing as the IRS
Mar. 13, 2018
The Internal Revenue Service issued an advisory warning taxpayers of scams in switch scammers pose as the IRS.
What Home Equity Loan Interest Is Still Deductible Under TCJA
Feb. 24, 2018
The Internal Revenue Service has advised taxpayers that in many cases they can continue to deduct interest paid on home equity loans under TCJA. Responding to many questions received from taxpayers and tax professionals, the IRS said that despite newly-enacted restrictions on home mortgages, taxpayers can often stil... View Article>
Tax Planning & Preparation
New Tax Law DOUBLES Estate and Gift Tax Exemption
Feb. 21, 2018
 The Tax Cuts and Jobs Act made changes to the estate and gift tax exemption effective beginning in 2018 that will result in many fewer estates being subject to the 40% tax, and larger estates owing less tax. Before the Tax Cuts and Jobs Act, the first $5 million (as adjusted for inflation in years after 2011) of tr... View Article>