Innovative Strategies For Tax Controversies, Business Structuring And Estate Planning
New Jersey government has raced towards the goal of being the worst place in the country for business. The highest real estate tax, aggressive tax administration and ridiculous regulations combine to make New Jersey a poor choice for new business. The “ nonprofit,...
13% of Mortgages in Trouble! At the end of the second quarter, 4.3% of all residential mortgages were in some part of the foreclosure process, up from 3.85% at the end of the first quarter and 2.75% a year ago. In addition, on a seasonally adjusted basis, 9.24% of all...
President want to Tax Health Benefits Reneging on his campaign promise, Pres. Obama announced he wants to tax employer provided health insurance benefits. This means the value of health benefits will be reduced for employees because they will have to pay tax on income...
Bad Economy = Good Time to Buy a Business! The current depression/recession is has been a disaster for many businesses. Companies, both large and small, are unloading assets and cutting staff. This may be the perfect time to start or expand a business to take...
Tax Exempts must file 990-N The IRS requires many small tax-exempt organizations to file their annual electronic informational return with the IRS by the May 15 deadline.This is the second year of the new requirement for tax-exempt organizations whose gross annual...
Supreme Court Limits Police [4/21/09 – 10:14] In a 5-4 decision this morning, the United States Supreme Court announced a major change to the law related to the search of a motor vehicle following the arrest of a recent occupant. In Arizona v. Gant, the Justices ruled...
Freedom for All Americans On this day in 1866, the Republican-majority 39th Congress overrode a veto by the Democrat president, Andrew Johnson, to enact the 1866 Civil Rights Act. Every Democrat in Congress voted against it. The purpose of the 1866 Civil Rights Act...
From 2005 to 2007 the IRS increased audits of the smallest companies – those with assets under $10 million. Internal Revenue Service investigations increased a whopping 41 percent. This is part of the government’s attack on small business by the IRS and other...
2009 Inflation Adjustments Announced The IRS has released Revenue Procedure 2008-66 announcing increases in deductions, exemptions, limitations, and credits for 2009, as well as widened tax brackets. Key changes affecting 2009 returns include the following: The value...
Nearly 1 million individuals and businesses filed bankruptcy in the 12 months ended June 30, according to U.S. Court data released August 27, 2008. There were 967,831 bankruptcy cases filed since July 1, 2007, up 28.9 percent from the prior 12 months, when cases...
