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Monthly Archives: May 2015

Savings and Tax Strategies for Recent College Grads by Joanie B. Stein, CPA


Posted on May 29, 2015 by Joanie Stein

May marks the start of graduation season for college students across the country.  To help recent grads save money and start building a solid financial future, they need look no further than the IRS for a range of tax savings.   Student Interest Loan Deduction  According to The College Board, the average student graduates from a public, […]

Provenance Wealth Advisors’ Chief Investment Officer Earns National Recognition


Posted on May 26, 2015 by Richard Berkowitz

Provenance Wealth Advisors, an independent advisory firm affiliated with Berkowitz Pollack Brant, is proud to announce that its chief investment officer, Todd Moll, earned notable recognition from two of the world’s leading financial news organizations.   Financial Times selected Moll as one of the top-400 financial advisors in the U.S., based on assets under management, […]

Understanding Individual Capital Gains and Losses by Jeffrey M. Mutnik, CPA/PFS


Posted on May 21, 2015 by Jeffrey Mutnik

Capital assets include almost everything owned for personal use or investment purposes, including houses, furnishings, cars, artwork, bonds and shares of stocks.  Understanding the resulting tax liabilities or deductions that apply when taxpayers sell these assets is an important step in an efficient tax-planning process.   What is a capital gain? A capital gain is […]

Are You Ready to Meet the FBAR Filing Deadline? by Andrew Leonard, CPA


Posted on May 19, 2015 by Andrew Leonard

U.S. citizens and resident aliens with financial interests in, or signature or authority over, foreign bank accounts, securities and brokerage accounts, mutual funds, trusts or other accounts with an aggregate value exceeding $10,000 at any time during the year, must file by June 30 a Report of Foreign Bank and Financial Accounts (FBAR).  Identifying these […]

What to do if the IRS Contacts You by Joseph L. Saka, CPA/PFS


Posted on May 18, 2015 by Joseph Saka

For many taxpayers, a letter from the IRS creates fear and a steep rise in blood pressure. While there is no need to panic, taxpayers should consider the following tips when receiving correspondence from taxing authorities.   Be mindful of tax scams. The IRS will never contact taxpayers nor request personal information via email, telephone […]

Marriage and Taxes by Joanie B. Stein, CPA


Posted on May 12, 2015 by Joanie Stein

Saying “I do” is a significant life event that will lead to many changes along the road to happily ever after. Among these changes are a range of legal and financial issues that couples should address as early as possible.   Change in Name Individuals who elect to take the last name of their new […]

The Risks and Rewards of Investing in Master Limited Partnerships by Jeffrey M. Mutnik, CPA/PFS


Posted on May 07, 2015 by Jeffrey Mutnik

Over the past decade, master limited partnerships (MLPs) have increased in favor among savvy investors, thanks to historically strong returns and steady income they provide in a low-yield environment. However, these crafty investments often come with complicated compliance requirements and surprising tax liabilities.   What is an MLP? A master limited partnership (MLP) is a […]

Filing a Decedent’s Final Tax Return by Joanie B. Stein, CPA


Posted on May 01, 2015 by Joanie Stein

Death and taxes may be the two certainties in life, but death does not excuse an individual from meeting their tax liabilities.  When a taxpayer passes away, his or her estate may owe Uncle Sam federal income taxes, federal estate taxes and, depending on where they passed, state death taxes. Filing a final return for […]

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