Bloomberg Business has reported that the estate of billionaire William Davidson has sued Deloitte LLP for $500 million (Aaron v. Deloitte Tax LLP, 653203/2015, NYS Supreme Court, NY County, … [Read more...] about Lesson Learned from a Billionaire
AFFORDABLE CARE ACT – AFFORDABLE FOR WHOM?
The Affordable Care Act (ACA) has been quite controversial. One of the issues that the U.S. Supreme Court looked at is whether the ACA was a tax when deciding whether the ACA was constitutional. For … [Read more...] about AFFORDABLE CARE ACT – AFFORDABLE FOR WHOM?
ARE COMMUTING EXPENSES TAX DEDUCTIBLE?
While traveling from your home to your place of business is generally not tax deductible, there are exceptions. The three exceptions are: … [Read more...] about ARE COMMUTING EXPENSES TAX DEDUCTIBLE?
US GOVERNMENT INCREASING ODDS THAT YOUR IDENTITY WILL BE STOLEN?
Effective in 2016, health insurance companies will be required to provide to every individual who received minimum essential health care coverage in the 2015 calendar year with Form 1095-B, Health … [Read more...] about US GOVERNMENT INCREASING ODDS THAT YOUR IDENTITY WILL BE STOLEN?
IRA Recharacterization – “Heads I Win, Tails You Lose”
For those of you who converted your traditional IRA to a Roth IRA in 2015 and are watching the market value of that IRA fall, there is relief available to you. You can reverse your previously made … [Read more...] about IRA Recharacterization – “Heads I Win, Tails You Lose”
ANNUAL PHYSICAL INVENTORY REQUIREMENT
When working with clients on tax preparation and tax planning, one of our focuses is to minimize the likelihood of an Internal Revenue Service (IRS) audit. It is surprising how many business owners do … [Read more...] about ANNUAL PHYSICAL INVENTORY REQUIREMENT
