This time of year often finds us attending fundraisers or donating our household items from spring cleaning to a charitable organization, which often raises questions about charitable contributions, acknowledgements and tax deductions. The Internal Revenue Service has compiled some tips… Read More
Better Late Than Never!
In January 2013, Congress passed the American Taxpayer Relief Act of 2012. The act made permanent many of the “Bush-era” tax cuts for low- and middle-income individuals, as well as making the following permanent changes regarding the estate and gift… Read More
New Developments for 2013
April 15th has passed, but it is not time to stop thinking about taxes and strategic tax planning opportunities. Many new tax developments have been introduced which will impact tax planning for 2013 and beyond. Changes made to the Tax… Read More
Reporting by U.S. Taxpayers Holding Foreign Financial Assets
Taxpayers have long been required by the Bank Secrecy Act to report certain foreign accounts. Now, there is a new reporting requirement in the Foreign Account Tax Compliance Act of 2010. U.S. taxpayers holding foreign financial assets may be required… Read More
Closely Held Business Planning
Recently, end of year tax planning for businesses has been complicated by uncertainty over the future availability of many tax incentives. Many business incentives extended by Congress in 2010 are about to expire. In addition, many of the “Bush-era” tax… Read More
2012 Estate, Gift, and Trust Planning
While many commentators believe that the “Bush tax cuts” will not sunset completely, it is generally agreed that income tax rates are likely on their way up. Under current law, as of January 1, 2013: The unified lifetime transfer tax… Read More
Individual Tax Planning
Year-end planning for 2012 requires a combination of multi-layered strategies, taking into account a variety of possible scenarios and outcomes. Every tax situation is different and requires a careful and comprehensive plan. We can assist you in aligning traditional year-end… Read More
