Archive

Monthly Archives: September 2018

IRS Extends Filing Deadlines for Victims of Hurricane Florence by Jeffrey M. Mutnik, CPA/PFS


Posted on September 27, 2018 by Jeffrey Mutnik

Certain taxpayers affected by Hurricane Florence have until Jan. 31, 2019, to meet all of their tax filing and payment obligations that had original deadlines of Sept. 7, 2018, or later. This postponed deadline applies automatically to taxpayers located in the designated disaster areas: North Carolina counties:  Allegany, Anson, Ashe, Beaufort, Bladen, Brunswick, Cabarrus, Carteret, […]

Taxpayers Receive Guidance on Deductions for Pass-Through Businesses


Posted on September 24, 2018 by Laurence Bernstein

The IRS recently issued its first round of proposed guidance concerning the pass-through deduction that tax reform introduced to qualifying business owners and to beneficiaries of trusts and estates beginning in the 2018 tax year. Taxpayers who own interests in pass-through businesses structured as LLCs, partnerships, S Corporations, or sole proprietorships now have guidance from […]

Small Businesses Competing for Talent are Making Use of a Forgotten Benefit by Adam Cohen, CPA


Posted on September 18, 2018 by Adam Cohen

In the current labor market, small businesses that lack the budgets to afford employee benefits, such as onsite food service, medical care and even ping-pong tables, are having a hard time attracting workers. However, many of these small companies are just now recognizing that the government provided them with an affordable, tax-friendly and hassle-free option […]

Why Real Estate Companies Should Consider REIT Structures to Attract Domestic and Foreign Investor Capital by Arkadiy (Eric) Green, CPA


Posted on September 12, 2018 by Eric Green

Investors around the world continue to view U.S. commercial real estate as an attractive asset to diversify their portfolios, minimize exposure to market volatility and build wealth. However, most of these projects require more capital than the average individual has to invest. In response, a growing number of businesses that own, operate or finance commercial […]

Artificial Intelligence Improves Audit Function, Helps Businesses Save Time and Money by Hector Aguililla, CPA


Posted on September 12, 2018 by Hector Aguililla

Artificial intelligence (AI) is quickly becoming a mainstay of our lives, helping us to control the appliances in our homes, recommend movies or products based on our previous behavior, and take us on rides in self-driving cars. Similarly, AI has crept into the corporate environment, helping to sort through the voluminous amounts of data created […]

Time is Ticking Away on your Tax-Filing Extension by Adam Slavin, CPA


Posted on September 06, 2018 by Adam Slavin

If you requested an extension to file your federal income tax return six months later than the traditional April deadline, it is now time to start preparing. You do not want to rush through the preparation process to meet the upcoming October 15 filing extension deadline, especially when considering that most mistakes occur when taxpayers […]

Will We Feel GILTI under Tax Reform? by Andre Benayoun, JD


Posted on September 01, 2018

In an effort to prevent U.S. businesses from shifting profits offshore to low-tax countries, the Tax Cuts and Jobs Act imposes an annual tax on foreign income that exceeds 10 percent of a taxpayer’s return on all foreign depreciable assets, including plants, equipment and real estate. However, under this Global Intangible Low Taxed Income (GILTI) […]