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. […]
Posted on August 28, 2016 by
Joanie Stein
The excitement of planning a wedding should not take a back seat to the important tax and legal issues that newlyweds will face after they say I do. Following are five factors to consider when couples marry. New Names. Taking a spouse’s last name requires an individual to legally change his or her name with […]
For the first time since the Great Depression, the number of young adults who live with their parents has reached record levels. In fact, according to the Pew Research Center, adults between the ages of 18 and 34 are now more likely to live under their parents’ roofs than they are to live on their […]
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 […]
Business owners may erroneously assume that the value of their companies is the same as their profits, which is calculated by subtracting expenses from total revenue. While profits certainly play a role in establishing how much an enterprise is worth, it is not the sole determinant. Other factors come into play that may enhance or […]
Posted on August 17, 2016 by
Karen Lake
Thanks to the Protecting Americans from Tax Rate Hikes of 2015 (PATH Act) the research and development (R&D) tax credit is now a permanent fixture in the Internal Revenue Code. As a result, businesses that incur qualifying research expenses (QREs) in the development, design or improvement of products, techniques, services or software may claim […]
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 […]
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 […]
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 […]
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. […]
