Posted on October 05, 2017
by
Adam Cohen
Benevolent individuals who volunteer their time for nonprofit organizations may be able to reduce their taxable income when their charitable work takes them away from home. U.S. tax laws allow individuals to deduct some of the expenses they incur when traveling on behalf of charitable organizations. Here’s what taxpayers need to know. Duty. The […]
Posted on October 03, 2017
Workers seeking new career opportunities in their current fields may be able to deduct certain expenses related to their job hunt even when they do not ultimately secure a new position. Qualifying job-search expenses are considered miscellaneous deductions that taxpayers may report on IRS Form 1040, Schedule A, Itemized Deductions. To qualify for a tax […]
Posted on September 28, 2017
by
Edward Cooper
On September 27, 2017, President Trump and top Republican leaders unveiled the latest round of updates to what they see as the future of the Tax Code. While it remains to be seen whether the tax reform package in its current state will become the law, it is important for taxpayers to understand what the […]
Posted on September 13, 2017
by
Joseph Saka
Dear Clients and Friends, We are grateful that Hurricane Irma veered away from South Florida and hope that your family is safe and that the impact to your property was minimal. Our offices in Miami, Boca Raton and West Palm Beach are open as of today, Wednesday, September 13, 2017. Our office in […]
Posted on September 06, 2017
by
Joseph Saka
Our office are closed in anticipation of Hurricane Irma. Our firm members’ connectivity to the office and their ability to respond to this email or return phone calls will be impacted by our need to prepare for the storm and potentially evacuate to safer locations. We will respond as quickly as we can under the circumstances. If […]
Posted on August 24, 2017
by
Jack Winter
When U.S. taxpayers file their income taxes each year, they must choose a tax-filing status to ultimately determine the amount of taxes they must pay to the IRS. In some instances, selecting a filing status is easy; under certain circumstances, however, more than one filing status may apply. It is critical that taxpayers carefully consider […]
Posted on August 15, 2017
by
Edward Cooper
The Department of Treasury in July 2017 announced its intent to reform or repeal eight tax regulations enacted during the Obama administration that it deems to be financially burdensome or excessively complex for U.S. taxpayers. It is expected that Treasury will make its final recommendations on these rules by September 18, 2017. The regulations at risk […]
Posted on August 11, 2017
by
Rick Bazzani
Working parents may be able to offset some of the costs of sending their children to summer day camp when they qualify for the Child and Dependent Care Tax Credit. The credit, which is based on a taxpayer’s gross income, filing status, amount of allowable expenses and number of children, can be worth up to $2,100 for a […]
Posted on August 01, 2017
by
Joseph Saka
Tax-related scams are casting a dark cloud over the typically blue skies and sunshine-filled days of the summer months. During this time of easy living, people must remain vigilant against new and often aggressive schemes that can comprise their personal information and financial security and leave them as yet another victim of identity theft. […]
Posted on July 24, 2017
by
Jack Winter
Individual and business taxpayers erroneously believe that once they file their returns in April, they can put those documents away in a file cabinet and ignore them until the following year. The fact is that the information contained in an annual tax return can provide an abundance of information about your current financial health and […]
