Estate Tax Exemption Doubled under Tax Reform
Tax News, TaxesArticle Highlights
Estate Tax Exemption
Unused Exemption Portability
Annual Gift Tax Exemption
Check Your Beneficiaries
Note: This is one of a series of articles explaining how the various tax changes made by the GOP’s Tax…
Living Abroad? Here Is How Tax Reform May Affect You
Tax News, Tax Tips, TaxesIf you are an expatriate living abroad, you may be wondering how the provisions of the Tax Cuts and Jobs Act (TCJA) will impact you. This is the most extensive tax change in over 30 years, and although it was touted as tax simplification when…
Can’t Pay Your Taxes by the April Due Date?
Tax News, Tax Tips, TaxesArticle Highlights:
What to Do If You Can’t Pay
Loans
Credit Card Payments
IRS Installment Agreements
Retirement Funds
If you aren’t one of those lucky Americans who gets a tax refund from the IRS you might be wondering…
Tax Reform Limits Exchanges to Defer Taxes
Tax News, TaxesArticle Highlights:
Deferring Tax with Like-Kind Exchanges
Changes Made by Tax Reform
Impact on Trade-ins
Note: This is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs…
Business Owners Beware: New Tax Law Severely Limits Entertainment Deductions
Tax News
Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December 2017, could affect you, your business…
How Small Businesses Write Off Equipment Purchases
Small Business, Tax NewsArticle Highlights:
Depreciation
Materials & Supplies
De Minimis Safe Harbor Expensing
Routine Maintenance
Unlimited Expensing
Bonus Depreciation
Sec 179 Expensing
Mixing Methods
From time to time, an owner of…
Medical Deductions & The New Tax Law
Tax News, TaxesArticle Highlights:
Medical Deductions Retained by the Tax Reform Law
Adjusted Gross Income Floor Dropped to 7.5%
The Standard Deduction
Bunching Medical Deductions
Unusual Medical Deductions
Medical Dependents
Divorced…
If You Owe the IRS a Lot of Money, You May Not Want to Plan Any Out-of-the-Country Trips
Audit, Tax NewsArticle Highlights:
Seriously Delinquent Tax Debt
Exceptions
Passport Denial or Revocation
As promised several months back, the IRS has begun to crack down on seriously delinquent taxpayers. A law passed on Dec. 4, 2015, requires…
Personal Casualty Losses Axed by the New Tax Law
Tax News, Tax TipsArticle Highlights:
Casualty Losses
Deduction Suspension
Disaster Related Casualty Losses
Insurance Coverage
Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs…
Tax Reform Cracks Down on IRA Recharacterizations
Retirement, Tax NewsArticle Highlights:
Tax Trap
Traditional IRA
Roth IRA
Traditional to Roth Conversions
Undoing a Conversion
Note: The is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts &…