Author Archives: mgracey

With the complexity of the U.S. tax code, foreign persons may inadvertently trigger a withholding tax on the sale or disposition of U.S. real estate even when they are party to an otherwise tax-free reorganization. It is important for foreign individuals to understand the nuances of the Foreign Investment in Real Property Act (FIRPTA) and […]

In this episode Director of Forensic and Advisory Services Joel Glick, CPA/CFF, CFE, CGMA, explains the concepts behind piercing the corporate veil and how in partnership disputes and damages claims.

Charitable giving is a great way to support causes that are important to you and your community while establishing a legacy of philanthropy for your family members to carry on long after you are gone. For some, it also allows them to reduce their tax bill when they understand some basic rules. Who Can Claim […]

If you accepted more than $5,000 in online business payments in 2024 for goods and services via platforms such as Venmo, PayPal, eBay, Airbnb and Cash App, the IRS expects you to pay taxes on those earnings come April 15, 2025. While the IRS has always considered these payments as taxable business income, many taxpayers […]

In this episode Associate Director of Tax Services Max Jewell, CPA, MST, shares workaround strategies for navigating the PTET limits.

Generally, the taxes you owe depend on the decisions you made before year-end on December 31. However, as you prepare to file your 2024 tax returns, certain trusts and estates may have an additional 65 days in 2025 to reduce their tax liabilities and those of their beneficiaries for the prior year. Under the Internal […]

Buyers in the market for a yacht often hear from friends and anxious salespersons that they can claim federal income tax deductions when using a yacht for business purposes, such as entertaining clients or renting it out for private charters to generate income. This is often coupled with the promise of large depreciation write-offs against […]

It has been said that a picture is worth a thousand words. However, the IRS has the final say when it comes to the valuation and tax treatment of paintings, sculptures and other works of art. Whether you own a few valuable pieces or amassed a significant art collection, you must consider how these assets […]

In this episode, Associate Director of Forensic and Advisory Services Richard Fechter shares details about Florida’s new financial reporting regulations for condo associations and HOAs.

The IRS has issued tax relief to individuals and businesses affected by the devastating wildfires in southern California. Taxpayers who live in or own a business in a federally declared disaster area automatically receive an extension to file various federal tax returns and make tax-associated payments originally due between Jan. 7, 2025, and Oct. 15, […]