Jun 9, 2017 | Firm Updates, Individual Tax, Tax Tips
The Internal Revenue Service (IRS) continues to see an increase in collection scams in which scammers contact taxpayers and demand immediate payment for “taxes owed.” Here are some tips to help you determine if the person contacting you is truly an IRS employee: In...
Jun 6, 2017 | Firm Updates, Individual Tax, Tax Tips
With school letting out you might be focused on summer plans for your children (or grandchildren). But the end of the school year is also a good time to think about Coverdell Education Savings Accounts (ESAs)—especially if the children are in grade school or younger....
May 16, 2017 | Firm Updates, Tax Tips
Income and losses from investment real estate or rental property are passive by definition—unless you’re a real estate professional. Why does this matter? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive losses generally are...
May 2, 2017 | Firm Updates, Individual Tax, Tax Tips
Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government an interest-free loan for close to a year,...
Apr 25, 2017 | Firm Updates, Small Business, Tax Tips
Private companies with more than one owner should have a buy-sell agreement to spell out how ownership shares will change hands should an owner depart. For businesses structured as C corporations, the agreements also have significant tax implications that are...
Apr 11, 2017 | Firm Updates, Individual Tax, Tax Tips
Because of a weekend and a Washington, D.C., holiday, the 2016 tax return filing deadline for individual taxpayers is Tuesday, April 18. The IRS considers a paper return that’s due April 18 to be timely filed if it is postmarked by midnight. But dropping your return...
