Monthly Archives: August 2016

Reminder: Some Foreign Individuals May Need to Renew Individual Taxpayer Identification Numbers by Lewis Kevelson, CPA

Posted on August 30, 2016 by Lewis Kevelson

Beginning this fall, certain non-U.S. persons who hold Individual Taxpayer Identification Numbers (ITINs) issued by the Internal Revenue Service may need to renew their ITINs.   The IRS issues Individual Taxpayer Identification Numbers (ITINs) to individuals who do not have or are not eligible to obtain a Social Security Number for filing and processing of U.S. […]

Did You Forget Your Mid-Year Financial Check-Up? It’s Not Too Late by Scott Montgomery, CLU, ChFC

Posted on August 18, 2016 by Richard Berkowitz

The past seven months have demonstrated just how unpredictable and volatile the global markets can be. A strong U.S. dollar combined with weak corporate earnings, low energy prices, low interest rates and uncertainty over China, the fallout from the Brexit vote and the upcoming U.S. elections have contributed to a rollercoaster year for investors thus […]

Proposed Regulations Threaten Valuation Discounts, Spur Immediate Estate Planning Need by Barry M. Brant, CPA

Posted on August 15, 2016 by Barry Brant

High-net-worth families may have a more difficult time transferring real estate and business assets to their heirs under proposed regulations recently issued by the U.S. Department of Treasury. At risk are the tax-saving discounts that entrepreneurs have used for decades to transfer ownership interests in closely held businesses and real estate, either by gift or […]

Social Media Platforms Help Non-Profits Raise Funds and Awareness by Megan Cavasini, CPA

Posted on August 11, 2016

Most non-profit organizations recognize the power social media can wield to increase awareness and engagements among potential donors.  For proof, look no further than the Ice Bucket Challenge, which successfully raised interest, excitement and millions of dollars for ALS research.   Social media platforms are now making it easier for 501(c)(3) organizations to request and […]

Learn How Your Children Can Lower Your Tax Bill by Joanie B. Stein, CPA

Posted on August 09, 2016 by Joanie Stein

Raising children can be expensive.  However, the IRS provides families with some financial relief through several tax benefits that help parents reduce the amount of taxes they owe each year.   Dependent Deductions.  Parents may reduce their annual income by claiming a dependent deduction of up to $4,050 in 2016 for each child under the […]

Export Activities Benefit from Often-Overlooked Tax Incentive by Jim Spencer, CPA

Posted on August 07, 2016 by Jim Spencer

Astute exporters are no strangers to the tax-savings opportunities presented by Interest Charge-Domestic International Sales Corporations (IC-DISCs). However, few companies understand the benefits of this tax incentive, its reach outside of the exporting industry and the ease with which one can establish such an entity to reap substantial savings. IC-DISC Defined A closely held U.S. […]