Tax Reform
The Weekly Scenario: Time Traveling IRS
Question: In general, how far can the IRS go back in time to audit your tax return? Answer: Traditionally, the statute…
Read MoreThinking About Hiding Money From The IRS In Offshore Bank Accounts? Don’t Go There!
The US Department of Justice this week announced that a US resident faces three years in prison and fines after…
Read MoreWhat Happened To Your Tax Matters Partner?
If you have partnership (including LLC) clients, you probably know the Partnership Agreement or Operating Agreement contains a provision appointing…
Read MoreThe 2017 Tax Act Eliminated Deductions For Entertainment, But IRS Issues Guidance Stating That Business Meals Remain Partially Deductible
Prior to the change made by the 2017 Tax Act, taxpayers could deduct up to 50 percent of entertainment expenses…
Read MoreIRS Shoots Down States’ Efforts to Circumvent Federal $10,000 Limit on Deduction for State and Local Tax Payments
This week, the IRS announced new regulations to thwart efforts by some states to circumvent the $10,000 limitation on individuals’…
Read MoreSmall and Medium-Sized Business Owners: Know How the Tax Cuts and Jobs Act Impacts You
Numerous corporations in the United States are cheering the passage of H.R. 1, known as the Tax Cuts and Jobs…
Read MoreThe Weekly Scenario: Roth IRA Contributions Under TCJA
Question: I have exceeded the ability to make a Roth IRA contribution this year. Is it still possible to make…
Read MoreThe Weekly Scenario: Alimony & Tax Cuts and Jobs Act of 2017
Question: I receive alimony as a primary source of income. Does the Tax Cuts and Jobs Act of 2017 (TCJA)…
Read MoreHow the Tax Reform Bill Could Impact Homeowners and Real Estate Developers (Part 3)
How will the Tax Cuts and Jobs Act affect real estate? That question was the focus of our two-part…
Read MoreThe Weekly Scenario: Tax Cuts and Jobs Act
Question: How did the Tax Cuts and Jobs Act passed on December 22, 2017 affect federal estate, gift and generation-skipping…
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