The tax code includes Section 179, which permits first-year deduction (expensing) of amounts spent for business equipment. This provision formerly allowed annual deductions up to
Champagne and caviar on the IRS? Typically, the answer is no. Nevertheless, there are times when you can go out to eat—perhaps to the best
When couples divorce, financial negotiations often involve alimony. The tax rules regarding alimony were dramatically changed by the Tax Cuts and Jobs Act (TCJA) of
As the world shrinks, business owners may find themselves traveling to foreign destinations. Often, such trips are vital, leading to personal visits with suppliers and
A recent court case was decided that may affect many of our clients who work in the homebuilding industry. The U.S. Tax Court ruled that
Please use the link below to download a PDF file containing reference slides from today’s presentation.
For a contribution of property other than money, you generally must maintain a receipt from the donee organization that shows the organization’s name, the date
Many employers provide a vehicle to employees for their use during working hours. However, that employee may also use that vehicle for personal use before
Patient investors generally have prospered over the long term. Nevertheless, there are many reasons for selling stocks. Knowing the basics can help improve your tax
High-income taxpayers face escalated effective tax rates as a result of new tax laws. Moreover, the higher rates are not limited to athletes, entertainers, and
It takes fortitude, innovation and perhaps a little bit of luck for a business to thrive in these uncertain economic times. But what will happen
You may think that your estate plan should include a will in order to handle the disposition of your assets. That’s true: If you die
As a successful business owner, you still may reach a point where life’s realities are at odds with your career. Your health might decline, making
Businesses with more than one substantial co-owner should have a buy-sell agreement. This agreement can help all parties when the inevitable happens, and one of
If you are rather new to the field of business and you are the owner of a small business, you might be solely focusing on
For several years, through 2012, Americans paid income tax at six rates, ranging from 10% to 35%. Now, a higher rate has been added: 39.6%,
Our firm often deals with the proper treatment of certain dispositions of property on which businesses claimed depreciation deductions. Under the depreciation recapture rules, when
The Federal Housing Administration (FHA) has imposed more stringent requirements on reverse mortgages, making them increasingly difficult to obtain. For qualified borrowers, though, continued low
We have posted links below to the recorded tax reform webinar held on February 19th and the associated power point slides. Please feel free to
Many people think IRAs come in two flavors. Traditional IRAs, as they’re known, often hold pretax dollars. They offer tax deferral, but you’ll owe income