INTRODUCTION: For my clients residing in States with high State Income Taxes and/or high personal residential property taxes, the valued and yearly deduction of these taxes on your Itemized Deductions beginning in 2018 has had the unlimited ceiling crashing down to a total... Continue reading
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Category: Tax Planning
Question: Is a dividend distribution from a sole-shareholder S-Corporation a disguised wage payment? As with any economy, businesses are continually seeking to increase the bottom line of their profit statements. One such method is for the employer to reclassify its employees as independent... Continue reading
I’m not sure if there is something in the air, but I’ve been getting a bunch of questions from doctors who have recently been pitched Section 79 Plans. It’s odd because these plans are year-end income tax planning tools. Since I have not... Continue reading
The 2012 Act raises taxes on some individuals while retaining most of the provisions enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA,” generally referred to as the “Bush tax cuts”) and the two-year extension of EGTRRA enacted at... Continue reading
The past several months have witnessed an unfortunate setback in the fight for good tax policy. Bolstered by a shift in the U.S. position from benign neglect to active support, anti-tax competition ideologues have won a somewhat significant victory. Low-tax jurisdictions, faced with... Continue reading
Over the years, and certainly recently with the real estate crisis in America, intangible assets have become more important (and don’t forget, that their value as an asset is taxable). Much of what we are speaking of refers to intellectual property, although there... Continue reading
President Obama has had a dislike for offshore financial centers since he was a Senator. He co-sponsored a bill called the Stop Tax Haven Abuse Act and it appears that his administration will pursue the bill in the near future. President Obama pledged... Continue reading
Limited Liability Companies (LLC’s) may protect assets from the claims of outside creditors, but this protection depends on the law of the state in which the LLC was organized or the law of the state of business, depending on where the obligation was created. This protection... Continue reading
WASHINGTON –– The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty... Continue reading
Providing an investor is going to get what he or she feels is a great Rate of Return on Investment (ROI), then an entrepreneur might have a shot at a venture capital (VC) deal. There are deals to be achieved although the 2010... Continue reading
The latest and greatest marketing craze of financial planners is to advise people to convert their IRAs to Roth IRAs. Perhaps, this is one of the most harebrained financial moves a person can make. A couple of weeks ago, President Obama signed into... Continue reading
For wealthy global families seeking new passports, Canada is the world’s best kept secret. Although top marginal tax rates are a bit higher than the U.S., there are significant planning opportunities for wealthy immigrants. In some cases, wealthy families can legally acquire and,... Continue reading
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Financial Risk Analysis
Investments Too Risky?
It’s tough to determine which investments to use if you don’t know your own risk tolerance.Free Retirement Kit
