Feb 14, 2017 | Firm Updates, Individual Tax, Tax Tips
Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved ones with some helpful financial support. Regardless of the reason for making a gift,...
Feb 1, 2017 | Firm Updates, Small Business, Tax Tips
The Section 199 deduction is intended to encourage domestic manufacturing. In fact, it’s often referred to as the manufacturers’ deduction. But this potentially valuable tax break can be used by many other types of businesses besides manufacturing companies. Sec. 199...
Jan 24, 2017 | Firm Updates, Retirement Planning, Tax Tips
Investment interest—interest on debt used to buy assets held for investment, such as margin debt used to buy securities—generally is deductible for both regular tax and alternative minimum tax purposes. But special rules apply that can make this itemized deduction...
Jan 17, 2017 | Firm Updates, Individual Tax, Tax Tips
The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can be valuable to those residing in states with no or low income taxes or who...
Jan 11, 2017 | Firm Updates, Individual Tax, Tax Tips
If you’re like many Americans, you might not start thinking about filing your tax return until close to this year’s April 18 deadline. You might even want to file for an extension so you don’t have to send your return to the IRS until October 16. But there’s another...
Dec 28, 2016 | Firm Updates, Tax Tips
There are many ways to save for a child’s or grandchild’s education. But one has annual contribution limits, and if you don’t make a 2016 contribution by December 31, the opportunity will be lost forever. We’re talking about Coverdell Education Savings Accounts...