Archive

Monthly Archives: July 2018

Florida Renews Annual Back-to-School Sales-Tax Holiday in 2018 with One Big Exception by Michael Hirsch, JD, LLM


Posted on July 24, 2018 by Michael Hirsch

Florida families should mark their calendars for the first weekend in August when the state’s annual three-day back-to-school sales-tax holiday begins. Beginning on Friday, Aug. 3, through the end of Sunday, Aug. 5, families can reap significant savings and avoid paying state and local sales tax on in-store or online purchases of qualifying school supplies, […]

Now is the Time to do Some Reverse Estate Planning by Jeffrey M. Mutnik, CPA/PFS


Posted on July 23, 2018 by Jeffrey Mutnik

For decades, families with moderate-to-high net worth have employed a variety of tried-and-true estate-planning techniques to protect assets, transfer wealth to future generations and minimize their income and estate tax liabilities. However, with the changes to the tax laws that went into effect beginning in 2018, a strategy that worked as recently as last year […]

When was the Last Time you Assessed your Business’s Cyber-Security Risk? Now is the Time to Get Started by Steve Nouss, CPA, CGMA


Posted on July 20, 2018 by Steve Nouss

The frequency and sophistication of cybersecurity attacks continue to intensify leaving businesses, governments and not-for-profits with an ever-present risk of falling victim to data breaches. Cyberattacks not only disrupt normal business operations, they also erode public trust and can lead to irreparable reputational damage, loss of customers and intellectual property, litigation, and significant fines and […]

Tax Reform Makes Cost Segregation Studies more Important than Ever for Real Estate Businesses by Joshua P. Heberling


Posted on July 19, 2018 by Joshua Heberling

The Tax Cuts and Jobs Act (TCJA) brings a broad range of potentially significant tax savings to individuals and businesses involved in the construction, acquisition and renovation of commercial real estate. Property developers, owners and investors seeking to leverage these benefits will need to engage in advance planning and put into place appropriate strategies and […]

New Rules for Tax Treatment of Motor Vehicle Use in 2018 by Flor Escudero, CPA


Posted on July 11, 2018 by

The use of a motor vehicle can sometimes provide individuals and businesses with tax benefits. Here is what taxpayers need to know for 2018. Increased Standard Mileage Rates Taxpayers have the option to deduct the actual use of their cars, vans, pickups and panel trucks for multiple purposes or, they may simply apply the standard […]

Taxes Related to Selling a Home by Adam Slavin, CPA


Posted on July 10, 2018 by Adam Slavin

The sale of a family home comes with a long list of tax liabilities and some opportunities of which sellers should be aware. Taxable Gains and Non-Deductible Losses The IRS allows certain individuals who sell their homes for a profit to exclude up to $250,000 of that gain from their taxable income, or $500,000 when […]