We often hear from clients who have received a gift or an inheritance and inquire as to how much this will cost them in taxes that need to be paid. The good news is that the recipient of a gift or … [Read more...] about Property Acquired by Gift or Through an Estate Inheritance
Archives for August 2016
HOW THE AFFORDABLE CARE ACT AFFECTS EMPLOYERS WITH LESS THAN 50 EMPLOYEES
Under the Affordable Care Act, large employers must either offer “minimum essential coverage” that is “affordable” and that provides “minimum value” to their full-time employees and their dependents, … [Read more...] about HOW THE AFFORDABLE CARE ACT AFFECTS EMPLOYERS WITH LESS THAN 50 EMPLOYEES
“You Are Going to Be Arrested” says the Criminal
Scammers are calling taxpayers and threatening to have a magistrate come to their home unless they pay their IRS tax debts. The IRS has reported that it is seeing a significant increase in automated … [Read more...] about “You Are Going to Be Arrested” says the Criminal
THE BANK SECRECY ACT MAKES SELF-PREPARED TAX RETURNS VERY EXPENSIVE
Every year we have new clients come to us to have their personal tax returns prepared because they are finding complying with the U.S. tax laws too complicated or preparing the returns consumes too … [Read more...] about THE BANK SECRECY ACT MAKES SELF-PREPARED TAX RETURNS VERY EXPENSIVE
SHAREHOLDER COMPENSATION – BE PRUDENT AND TAKE THE NECESSARY STEPS TO DOCUMENT REASONABLENESS
We periodically remind our S Corp. clients of the importance of paying themselves a reasonable salary. We offer to perform a reasonable compensation analysis for them for a nominal cost, especially in … [Read more...] about SHAREHOLDER COMPENSATION – BE PRUDENT AND TAKE THE NECESSARY STEPS TO DOCUMENT REASONABLENESS
