Archive

Monthly Archives: August 2017

What is my Tax-Filing Status? by Jack Winter, CPA/PFS, CFP


Posted on August 24, 2017 by Jack Winter

When U.S. taxpayers file their income taxes each year, they must choose a tax-filing status to ultimately determine the amount of taxes they must pay to the IRS. In some instances, selecting a filing status is easy; under certain circumstances, however, more than one filing status may apply. It is critical that taxpayers carefully consider […]

The Border Adjustment Tax is Dead…or is It?? by James W. Spencer CPA


Posted on August 21, 2017 by Jim Spencer

As Congress shifts its attention from healthcare to tax reform, key Republicans and the White House on July 27, 2017, issued a joint statement agreeing to “set aside” a proposed and much-hyped border adjustment tax (BAT) on imported goods. Business groups that feared a destination-based tax would drive up costs cheered this news. However, it […]

Navigating Tax Nexus in the Cloud by Karen A. Lake, CPA


Posted on August 18, 2017 by Karen Lake

There is no doubt that the rise of interconnectivity between networks, devices and apps have helped businesses in virtually all industries improve operational efficiency and personalize the customer experience. While more than half of U.S. states have made some progress in defining the sales taxability of digital goods and software, either by adopting the standards […]

Understanding and Avoiding Business Nexus and Taxation across Borders under BEPS by Andre Benayoun, JD


Posted on August 16, 2017 by

Gone are the days when multinational companies could reduce or eliminate their tax liabilities by taking advantage of broad language contained in various income tax treaties that the U.S. had effectuated with other foreign jurisdictions. In 2015, the Organization for Economic Cooperation and Development (OECD) introduced a new framework that aims to prevent businesses from […]

6 Tax Regulations Face the Chopping Block by Edward N. Cooper, CPA


Posted on August 15, 2017 by Edward Cooper

The Department of Treasury in July 2017 announced its intent to reform or repeal eight tax regulations enacted during the Obama administration that it deems to be financially burdensome or excessively complex for U.S. taxpayers. It is expected that Treasury will make its final recommendations on these rules by September 18, 2017. The regulations at risk […]

Summer Camp Costs May Qualify for a Tax Credit by Rick Bazzani, CPA


Posted on August 11, 2017 by Rick Bazzani

Working parents may be able to offset some of the costs of sending their children to summer day camp when they qualify for the Child and Dependent Care Tax Credit. The credit, which is based on a taxpayer’s gross income, filing status, amount of allowable expenses and number of children, can be worth up to $2,100 for a […]

Taxpayers Beware: Summertime Tax Scams are on the Rise by Joseph L. Saka, CPA/PFS


Posted on August 01, 2017 by Joseph Saka

Tax-related scams are casting a dark cloud over the typically blue skies and sunshine-filled days of the summer months. During this time of easy living, people must remain vigilant against new and often aggressive schemes that can comprise their personal information and financial security and leave them as yet another victim of identity theft.   […]