Monthly Archives: November 2016

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 […]

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 […]

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 […]

 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 […]

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 […]

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 […]

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 […]

The IRS this month issued temporary regulations that will give taxpayers who incurred losses from a federal disaster area an additional six months to claim those losses on their federal tax income tax returns. Under Section 165 of the Internal Revenue Code, taxpayers may elect to deduct losses incurred from a federally declared disaster area. […]