Individual Intrafamily Loans
If a relative needs financial help, offering an intrafamily loan might seem like a good idea. But if not properly executed, such loans can carry negative tax consequences. This article...
06 November, 2020
Author: Don Breckenridge
Real Estate: QIP Depreciation Changes
Earlier this year, Congress finally passed legislation that corrects a drafting error related to real estate qualified improvement property (QIP). The correction is part of the CARES Act. It retroactively...
06 November, 2020
S-Corporation Tax Advantages
This article explains the requirements and advantages of an S corporation status and what needs to be done to avoid S corporation termination. The proper care and feeding of your S...
06 November, 2020
Individual Roth Conversions
The COVID-19 pandemic has been causing havoc in the global markets and the U.S. economy. In these uncertain times, it’s important to stay on top of your financial status, including...
06 November, 2020
Individual Tax Scams
Scam artists seem to come out of the woodwork when there’s money involved — and taxes are no exception. Fortunately, by becoming familiar with common tax scams and understanding what...
06 November, 2020
Tax Relief for Businesses – CARES Act
To provide tax relief to businesses suffering during the COVID-19 pandemic, the CARES Act temporarily relaxes the limitation on deductions for business interest expense. This article explains the rules that...
06 November, 2020
Summary on Meal and Entertainment Tax Deductions
On Sept. 30, 2020, the IRS issued final regulations that provide guidance for meal and entertainment deductions under section 274 of the Internal Revenue Code. The following is a general...
03 November, 2020
COVID-19 Year-End Tax Planning
If you are reading this, that means you’ve survived what will be one of the most interesting years in your life! This year has brought changes to the way we...
03 November, 2020