Monthly Archives: November 2016

Last-Minute Tax-Planning Strategies for 2016 by Rick Bazzani, CPA

Posted on November 29, 2016 by Rick Bazzani

The results of the 2016 U.S. elections signal a high probability that the country’s tax code will be reformed in the near future. However, before the new Congress convenes on January 3 and President-elect Donald Trump takes office on January 20, individuals should take some time now to review their finances and identify last-minute strategies […]

Individuals with High Tax Debt Have a New Option for Meeting Their IRS Obligations by Andreea Cioara Schinas, CPA

Posted on November 21, 2016 by Andreea Cioara-Schinas

Taxpayers who owe between $50,000 and $100,000 in assessed back taxes, penalties and interest will have an easier option for paying off their tax debt, under a new IRS test program that will run through Sept. 30, 2017.   Previously, tax debts exceeding $50,000 required complex financial disclosures and lien filings. However, under the Fresh […]

Florida’s Prepaid College Plan Announces Open Enrollment by Rick D. Bazzani, CPA

Posted on November 17, 2016 by Rick Bazzani

The annual enrollment period for Florida’s Prepaid College Plan opened on October 15, 2016, providing families with an opportunity to begin saving for a child’s future education at one of the state’s public universities before a child reaches the 12th grade. Open enrollment continues until February 28, 2017.   Since 1987, the Florida Prepaid College […]

Tax Reform Under President-Elect Donald Trump by Barry M. Brant, CPA

Posted on November 15, 2016 by Barry Brant

 The election of a new president brings with it the expectation and hope for positive change. Among the policy platforms proposed by President-elect Donald J. Trump is a revamp of the country’s Federal tax code. While it remains to be seen whether or not Trump’s plans will become the law in 2017, it is critical […]

Businesses Face New Standard for Recognizing Leases on their Balance Sheets by Whitney Schiffer, CPA

Posted on November 14, 2016 by Whitney Schiffer

The traditional method that businesses, including real estate developers, have used to account for lease transactions is in for a significant change. For many years, users of financial statements criticized lease accounting rules for failing to provide a complete picture of a company’s financial performance. More specifically, while businesses were required to record on their […]

Upcoming Tax Deadlines November 2016 Through April 2017

Posted on November 11, 2016 by Richard Berkowitz

December 7:               Last day Medicare beneficiaries may enroll in new plans for 2017.   December 15:             Deadline to file Form 1040 NR, U.S. Nonresident Alien Income Tax Return, if an extension was previously filed   December 15:             Deadline for calendar-year Corporate 4th Quarter Estimated Tax Payment   December 31:             Deadline for individuals over age 71½ […]

Complex Tax Issues Await Russian Investors in U.S. Real Estate by Ken Vitek, CPA

Posted on November 09, 2016 by Ken Vitek

Global uncertainty continues to fuel international investment in U.S. real estate due to the low capital costs in the form of near record low interest rates as well as the potential for significant yields. However, Russian investors who are not considered U.S. citizens face a complex U.S. tax system that can lead to negative tax […]

Best Practices for Businesses after a Disaster by Daniel Hughes, CPA/CFF/CGMA

Posted on November 09, 2016 by Daniel Hughes

As Hurricane Matthew churned along South Florida’s coastline, residents and businesses dodged a potentially devastating bullet. Yet, the storm serves as an important reminder about how businesses must prepare for and respond to natural disasters in order to minimize losses and ensure their long-term viability. The actions a business takes during the first few days […]

Berkowitz Pollack Brant Announces Leadership Changes

Posted on November 08, 2016 by Richard Berkowitz

Richard Berkowitz is Founding and Executive Chairman; Joseph Saka is CEO, Edward N. Cooper is Director-in-Charge of the Tax Department MIAMI, FL, November 7, 2016 – Berkowitz Pollack Brant Advisors and Accountants has announced its succession plan, introduced a new chief executive officer and elevated the former CEO to the position of founding and executive […]