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Monthly Archives: August 2015

Do You Need a Construction Overrun Investigation? by Joel Glick, CPA/CFF, CFE


Posted on August 31, 2015 by Joel Glick

Developers, building owners and construction contractors are keenly aware that as a real estate project progresses to completion, sizeable differences often exist between initial budget estimates and the final tally of the project’s total cost and capital expenditures. When these costs are inaccurately estimated prior to the commencement of work, an avalanche of change orders […]

Sponsors of 401(k) Plans Must Heed Supreme Court Warning by Sean Deviney, CFP


Posted on August 30, 2015 by Richard Berkowitz

A recent U.S. Supreme Court decision reaffirmed that the fiduciary duty of employers sponsoring 401(k) plans extend beyond the six-year statute of limitations. In its unanimous decision, the court ruled that 401(k) fiduciaries must monitor investments, dispose of inappropriate assets and minimize management fees on a continuous and regular basis. According to the court, “an […]

You’re Never Too Young to Begin Estate Planning by Stefan Pastor


Posted on August 27, 2015 by Richard Berkowitz

Most individuals in their 20s and 30s pay little attention to estate planning. Why should they? They are just beginning their careers, earning often modest wages and a long way off from retirement. However, experts agree that those early years are the perfect time to start planning for life’s what-ifs and preparing to build a […]

3 Ways to Maximize Losses from Passive Investment Activities by Angie Adames, CPA


Posted on August 20, 2015 by Angie Adames

Harvesting losses is one of the most basic tenets of taxation; losses may offset gains to reduce taxable income. Yet, this rather simple concept is significantly more complex for high-income taxpayers who operate pass-through businesses and whose investments in businesses and/or real estate generate interest income, dividends and capital gains. For these taxpayers, a clear understanding of the […]

Know Your Intent to Qualify for 1031 Exchange Tax Deferral by John G. Ebenger, CPA


Posted on August 18, 2015 by John Ebenger

Despite governmental efforts to repeal or limit taxpayer use of 1031 exchanges, a robust real estate market is driving demand for this powerful tax-planning tool. Under Section 1031 of the Internal Revenue Code, individuals may defer taxes on the sale of certain business or investment property when they reinvest the profits into new, similar property […]

Tax Credits vs. Tax Deductions by Jeffrey M. Mutnik, CPA/PFS


Posted on August 17, 2015 by Jeffrey Mutnik

The Senate Finance Committee recently voted to extend more than 50 expired tax breaks for two years. While Americans await a full Congressional vote, now is a good time for taxpayers to gain an understanding of the difference between tax credits and tax deductions. Both tax credits and tax deductions are intended to reduce individuals’ […]

Moving Forward After the Death of a Spouse by Kathleen Marteney, CRPC


Posted on August 13, 2015 by Richard Berkowitz

The death of a spouse is perhaps the most stressful time an individual can endure during his or her lifetime. In addition to often paralyzing grief, questions of uncertainty and decisions for the future are suddenly thrust onto the surviving spouse’s plate. Knowing where to turn for help and prioritizing an action plan are key […]

Does Your Small Business Qualify for a Health Care Tax Credit? by Adam Cohen, CPA


Posted on August 12, 2015 by Adam Cohen

Small businesses that purchase health insurance for employees through the Small Business Health Options Program (SHOP) may qualify for a tax credit worth up to 50 percent of their premium contributions. To be eligible for the credit, small businesses, including those that are tax-exempt, must meet the following criteria: Have fewer than 25 full-time equivalent […]

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