Posted on June 26, 2019
by
Jack Winter
Financial crimes against the elderly more than quadrupled between 2013 and 2017, according to the Consumer Financial Protection Bureau (CFPB). While anyone can fall prey to these scams, the elderly are typically more at risk. They may be challenged with the Internet of things and using new technology safely, or they may be unfamiliar with […]
Posted on June 24, 2019
by
Lewis Taub
Despite the legalization of cannabis on a state-by-state basis, federal tax laws continue to limit the availability of certain tax benefits for businesses engaged in cannabis production and sales. Yet, with advance planning and analysis, cannabis companies and their investors have an opportunity to maximize their tax savings while maintaining compliance with federal laws. Federal […]
Posted on June 11, 2019
For many foreign persons, the U.S. tax system can be a complicated web of conflicting rules and exceptions, making compliance difficult, at best. One of the more complex challenges concerns the U.S.’s different treatment of foreign persons for income tax and estate and gift tax purposes. In general, the U.S. presumes foreign persons to be […]
Posted on June 04, 2019
On June 21, 2019, the U.S. Supreme Court issued a decision against the North Carolina Department of Revenue in its claim to tax the undistributed income of a New York trust that is “for the benefit of” a North Carolina resident. In the matter of North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 […]
Posted on May 26, 2019
by
Angie Adames
The U.S. tax laws have a long history of incentivizing taxpayers to invest in their domestic business operations and purchase equipment, machinery, vehicles and other capital assets that are essential to generating business income. With the enactment of the Tax Cuts and Jobs Act (TCJA) effective for tax year 2018, the government has sweetened the […]
Posted on May 23, 2019
by
Adam Cohen
The March and April tax filing deadline have come and gone, and many individual and business taxpayers can happily bid farewell to their 2018 federal income tax-filing responsibilities. However, if you are one of the millions of taxpayers who applied for an automatic extension of time to file for 2018, don’t get too comfortable. The […]
Posted on May 15, 2019
If you are one of the millions of taxpayers who received a smaller-than-expected tax refund or a surprise tax bill after filing your federal income tax returns for 2018, you can take comfort in knowing you are not alone. If you do not want to end 2019 in a similarly disappointing financial position or worse, […]
Posted on May 03, 2019
by
Rick Bazzani
Considering the amount of time and efforts taxpayers need to gather documents and prepare for the filing of their federal income tax returns, it’s no wonder that mistakes can occur. Luckily, the IRS offers taxpayers a few options for fixing their tax return filing errors. In general, you have three years from the date you […]
Posted on April 19, 2019
by
Joanie Stein
Many individuals filing their first federal income tax returns since the enactment of the new tax law are surprised to learn that they were not able to write off the donations they made to non-profit organizations in 2018. While few people give to charity solely for a tax break, much ink has been spilled over […]
Posted on April 05, 2019
by
Edward Cooper
By Edward N. Cooper, CPA The IRS has issued its annual list of the Dirty Dozen scams that taxpayers should look out for in 2019. Under U.S. laws, taxpayers are legally responsible for the information contained in their tax returns, even when those documents are prepared by someone else. Therefore, it is critical that you […]
