Category: Timely Articles
The Tax Cuts and Jobs Act (TCJA) imposed a new limitation on deductions for business interest expense. The IRS recently issued guidance in the form of proposed regulations. The business interest expense limitation is a permanent change for tax years … Read More »
Timely Articles. Comments Off on Update on the New Business Interest Expense Limitation
If you or a loved one needs long-term care, you probably don’t want to pay it from your hard-earned savings. Instead, consider purchasing a long-term care (LTC) insurance policy. As a bonus, qualified LTC policies may deliver some tax breaks. Here are … Read More »
Timely Articles. Comments Off on FAQs about LTC Insurance and Your Taxes
Does your son or daughter work during the summer or school year? A part-time job can be a great way for your child to learn about financial responsibility. It can also teach a valuable lesson about owing taxes. In addition to … Read More »
Timely Articles. Comments Off on Common Questions about Kids and Taxes
Good things come to those who wait. Older taxpayers may be entitled to some age-based tax breaks. Here are the details.
Catch-Up Contributions to Retirement Accounts
Older taxpayers can make extra “catch-up” contributions each year to certain types of tax-favored retirement accounts. For … Read More »
Timely Articles. Comments Off on Tax Strategies for Seniors
Virtual currency has gone mainstream. AT&T recently announced that its customers can use Bitcoin to pay their phone bills. Other big companies that accept Bitcoin include Microsoft, Expedia and Overstock. Competitors likely will follow suit. However, using virtual currency has tax implications … Read More »
Timely Articles. Comments Off on FAQs About Virtual Currency and Your Taxes
“A Run for Its Money,” article by Anthony DeMarco, with a contribution by Robert Hoberman, was published in Rapaport Magazine.
How can the diamond and jewelry trade pull out of whay many say are dire financial straits?
Please see this article and Robert Hoberman’s … Read More »
The complimentary use of a company car is one of the best perks an employee may receive as part of a compensation package. But the benefit to the employee isn’t completely “free” under current tax law. Essentially, personal use of a … Read More »
Timely Articles. Comments Off on IRS Announces Changes for Personal Use of Employer-Provided Vehicles
Many businesses will pay less federal income taxes in 2018 and beyond, thanks to the Tax Cuts and Jobs Act (TCJA). Some will spend their tax savings on merging with or acquiring another business. Before you jump on the M&A bandwagon, … Read More »
Timely Articles. Comments Off on Making Smart Mergers and Acquisitions under Today’s Tax Law
For many small business owners, their ownership interest is one of their biggest personal assets. What will happen to your ownership interest if you get divorced? In many cases, your marital estate will include all (or part) of your business interest.
Sometimes, … Read More »
Timely Articles. Comments Off on Tax Issues to Consider When Small Business Owners Get Divorced
Are you considering buying a new plug-in electric vehicle or a plug-in electric-gas hybrid vehicle? There is good and bad news about the tax credits and other cost-saving benefits available on these vehicles.
The good news is that the Tax Cuts and Jobs … Read More »
Timely Articles. Comments Off on Electric Vehicle Tax Credit: You Can Still Save Greenbacks for Going Green