When taxpayers receive a tax audit notice, they often feel as if they are stranded on a hostile island and danger awaits. If their record keeping is s...
Tax Tips: Charitable contributions …
Americans are the most charitable people in the world, as evidenced by records of our annual charitable giving. Congress has been very generous in the...
Tax Tips: Self-employed retirement savings plans …
Saving for retirement has never been more important. The Social Security system is being placed under increasing strain as people live longer and the ...
Tax Tips: Foreign asset reporting – watch out
Several filing requirements can apply when you own or are a beneficiary of foreign financial assets. These forms report on the specific assets themsel...
Tax Tips: Are all payments received income?
I often get questions as to whether payments a client has received are taxable and the answers are often surprising. Many taxpayers are receiving Form...
Tax Tips: Beating the taxman in retirement
While you are working, the taxman has you at his mercy. You can take advantage of tax-deferred accounts and pension plans but after that you have litt...
Tax Tips: People get ready, tax season’s a comin’
About this time of year, we begin to collect all the information we will need to properly file our income tax returns. Since it’s been a year, I have ...
Tax Tips: Capital gains and losses
Capital gains and losses are areas that offer great tax planning opportunities, since in many situations, you control when the gains and losses will b...
Tax Tips: Trusts and taxes
Trusts have become extremely popular in recent years. The most popular type is the intervivos or living trust which is used to control the disposition...
Tax Tips: Beware of tax traps
Our tax code is extremely complex with rules and regulations that can often catch a taxpayer by surprise. There is nothing sadder than informing a tax...