Posted on September 24, 2021
When individuals sign legal documents, including personal checks, contracts, tax returns, etc., they generally are not required to add any language explaining who they are. Their names alone satisfy the legal requirements for validating those documents. However, when those people are also officers of corporations or managers of partnerships or LLCs, they usually include their […]
Posted on September 14, 2021
Tax-Deferral Strategies for Commercial Real Estate Investors Commercial real property investors have long relied on Section 1031 of the Internal Revenue Code to defer capital gains tax on the sale of appreciated property when they reinvest sales proceeds into similar like-kind property. However, with the Biden administration’s proposal to restrict the tax-deferral benefits of 1031 […]
Posted on August 19, 2021
by
Andrew Leonard
Just as the IRS issued new guidance concerning the Employee Retention Tax Credit (ERTC), Congress is considering a proposal to end the program that would continue offering qualifying taxpayers as much as $7,000 in refundable tax credit per employee each quarter of 2021. Time is truly of the essence for employers to take advantage of […]
Posted on August 13, 2021
Employer-sponsored 401(k) plans are excellent vehicles for individuals to save for retirement during their prime earning years. Annual contributions made today with pretax dollars grow tax-deferred until you reach retirement age, when the distributions you take are treated as taxable ordinary income. However, even if you are diligent and contribute the maximum allowable amount to […]
Posted on August 04, 2021
by
Joanie Stein
Congratulations! You graduated college, secured a job and are entering the real world of financial independence. Before forging ahead and spending your first paycheck, take a moment to understand some basic lessons in financial responsibilities that you probably did not learn in school. Lesson 1: You Owe the Government Money Under U.S. law, all money […]
Posted on August 02, 2021
by
Rick Bazzani
It is not uncommon to blindly toss documents received throughout the year into a drawer, never to be seen again until it comes time to file your tax returns. This process, however, is not ideal for year-round tax planning, which is critical for tax efficiency and wealth preservation. Instead, take the time now to establish […]
Posted on July 29, 2021
by
Lewis Taub
According to the U.S. Treasury, the cryptocurrency market capitalization in April 2021 reached more than $2 trillion. Today, there are approximately 4,000 virtual currencies, such as Bitcoin (BTC), Etherium (ETH), Tether (USDT) and Dogecoin (DOGE), stored and traded on more than 8,600 cryptocurrency exchanges around the world, including Kraken and the largest exchange, Coinbase, which […]
Posted on July 26, 2021
by
John Ebenger
Commercial property owners in Florida will soon receive Truth in Millage (TRIM) notices indicating the county’s appraised market value of their real estate and the estimated property taxes they can expect to pay for the year. Although it is not uncommon for landlords and developers to ignore these estimates in anticipation of receiving a final […]
Posted on July 07, 2021
by
Lewis Taub
Signaling that cryptocurrency is not a passing fad, more than 12,000 people gathered in Miami in early June 2021 for what was billed as the largest Bitcoin conference in history. As digital currency continues to gain mainstream popularity — both as a viable investment vehicle and a method of payment for goods and services — […]
Posted on June 29, 2021
by
Angie Adames
There is a very fine line between business and pleasure when it comes to how the IRS treats business-travel expenses, including airfare, meals and lodging. In general, some or all of these costs may be deductible only when they are deemed reasonable, necessary and directly attributed to the taxpayer’s active conduct of a trade or […]
