Innovative Strategies For Tax Controversies, Business Structuring And Estate Planning
This is my client letter addressing Tax Reform: Dear Client: Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family and your business calculate your federal income tax bill, and the amount of...
THIS YEAR’S COMPANY HOLIDAY PARTY IS PROBABLY TAX DEDUCTIBLE, BUT NEXT YEAR’S MAY NOT BE Many businesses are hosting holiday parties for employees this time of year. It’s a great way to reward your staff for their hard work and have a little fun. And you can probably...
SHOULD YOU BUY A BUSINESS VEHICLE BEFORE YEAR END? One way to reduce your 2017 tax bill is to buy a business vehicle before year end. But don’t make a purchase without first looking at what your 2017 deduction would be and whether tax reform legislation could affect...
Today, Pres. Trump unveiled the general outline for his new tax plan. Yes, to my great amazement, he is talking about simplification of the Internal Revenue Code. I do not know if Congress will let this happen, but the compliance cost of federal and state taxes is far...
Tax season for individuals starts January 23, 2017 for the 2016 return. Unfortunately, most individuals are facing increasingly complex and confusing tax laws. It is not just businesses that are suffering. The National Taxpayer Advocate has called for Congress to...
Yesterday, the 115th Congress convened.The Republicans are in charge of both the House and Senate and there is been a lot of talk about tax reduction and “tax reform”. Does this mean we will get tax simplification? Since President Reagan signed the Internal Revenue...
Congress refuses to actually simplify the Internal Revenue Code. Since the 1986 tax Reform Act, Congress has passed more than 30,000 amendments to the Internal Revenue Code. Instead of simplification, Congress is now proposing a disguise tax increase for businesses....
Not surprisingly, Hillary Clinton is proposing to increase federal estate taxes from 40% to 45%. Right now, the rate starts at 40% for people who die with an estate, including all assets such as insurance, in excess of $5.45 million. Clinton has repeatedly...
More Taxes – Time after Time Wake up and smell the coffee! Its political season again and unfortunately it appears most candidates for State Governors and Congress are advocating a “tax the other guy” approach. “We need more money for the schools!”-Tax the Rich. “We...
IRS NON-APOLOGY OVER HARASSING TEA PARTY NON-PROFITS Jon Stewart, on the Daily Show pegged Pres. Obama and the IRS for what they really are: “You’ve managed to show that when the government wants to do good things, your managerial competence falls somewhere between...
