Posted on August 21, 2024
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Magda Szabo
On June 28, 2024, the U.S. Supreme Court issued a landmark decision in Loper Bright Enterprises v. Raimondo,[1] overturning its 40-year long-standing precedent set forth in Chevron v. Natural Resources Defense Council.[2] The latest ruling has far-reaching consequences concerning the courts’ power to override a federal agency’s interpretation (regulatory guidance) of the laws Congress designated […]
Posted on August 15, 2024
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Andrew Leonard
In this episode, Director of Tax Services Andrew Leonard explains foreign tax credits and a recent court ruling that could make an impact on taxpayers.
Posted on August 13, 2024
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Joanie Stein
In July 2024, the IRS issued final regulations regarding the SECURE Act’s elimination of stretch IRAs for certain non-spouse beneficiaries. The announcement gives taxpayers and their advisors much-needed clarification on the law’s requirement that beneficiaries of inherited IRAs draw down those accounts and pay the related taxes within 10 years of an original owner’s death. […]
Posted on August 01, 2024
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Brendan Kurpis
In this episode, associate tax director Brendan Kurpis explains electric vehicle tax credits and the common missteps.
Posted on July 19, 2024
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John Ebenger
There are many different types of participants in the real estate market and an equally diverse set of rules for how each may treat profits and losses from property sales. For example, real estate investors may claim the tax deferral benefits of a 1031 exchange, but these benefits and rules generally do not apply to […]
A recent decision by the U.S. Court of Federal Claims may open the door to a potential deluge of requests for tax refunds from U.S. citizens and resident aliens living or working in foreign countries with which the U.S. has an income tax treaty. In Christensen v. United States, the court interpreted the U.S.-France Income […]
For more than a century, Section 1031 of the U.S. tax code has carved out a unique opportunity for qualifying individuals and businesses to defer federal capital gains tax on the sale of highly appreciated real estate held for investment or business use when they reinvest the sales proceeds into a similar, like-kind property. These […]
Posted on July 09, 2024
Florida’s Department of Revenue (DOR) is offering qualifying businesses a tax credit against their state corporate income and franchise in tax years 2024, 2024 and 2026 when they hire qualifying employees with physical or intellectual impairments. The maximum tax credit available to qualifying businesses is $10,000 per year. Florida’s Individuals with Unique Abilities Tax Credit […]
Posted on June 20, 2024
On this episode Associate Director of Tax Services Jonathan Menna shares the latest tips and traps for cryptocurrency investors.
U.S. tax laws provide domestic and foreign real estate investors and developers with some of the most generous tax breaks, including the deferral of capital gain tax on the sale of highly appreciated property. This benefit of a 1031 exchange requires taxpayers to follow a unique set of rules and regulations. What is a 1031 […]
