Monthly Archives: May 2016

IRS Rules, Partners are Not Employees in Disregarded Entities by Angie Adames, CPA

Posted on May 31, 2016 by Angie Adames

Under temporary regulations issued by the IRS on May 4th, partners in partnerships that own disregarded entities may not be considered employees entitled to benefits from those entities nor exempt from federal self-employment tax.  While the disregarded entity may be considered a corporation for federal employment tax purposes, the IRS will treat the partners, themselves, […]

New Investment Rules for Private Foundations by Adam Cohen, CPA

Posted on May 25, 2016 by Adam Cohen

The Internal Revenue Service recently issued final regulations concerning which investments made by private foundations do not jeopardize the foundation’s tax-exempt status and are therefore not subject to excise tax. Section 4944 of the Tax Code imposes an excise tax on a private foundation that makes an investment for the primary purpose of producing income […]

When Income is Not Taxable by Kenneth J. Strauss, CPA/PFS, CFP

Posted on May 24, 2016

According to federal tax laws, all income is considered taxable. This includes money earned through wages and tips, investment gains and bartered transactions that involve an exchange of property or services. Yet, there are some exceptions to this rule, for which individuals may avoid tax liabilities. Under certain circumstances, the following types of income may […]

6 Facts to Know about Capital Gains and Losses by Brendan T. Hayes

Posted on May 19, 2016 by Richard Berkowitz

When an individual sells a capital asset he or she owns, such as personal property or investment property, the sale typically results in a capital gain or loss. A gain represents the profit an individual earns by selling the asset for more than the price they paid to acquire it. Conversely, a capital loss occurs […]

Deadline Nears for Employers to file Informational Heath Coverage Returns for 2015 by Adam Cohen, CPA

Posted on May 12, 2016 by Adam Cohen

Self-insured employers and applicable large employers with 100 or more full-time equivalent employees must remember to file with the IRS Affordable Care Act (ACA) information returns that detail the health care coverage they offered, or did not offer, to employees in 2015. While these employers should have provided their workers with individual copies of informational […]