Articles

Asset Sales Versus Stock Sales

Selling a business is never a decision that should be made lightly. A business is something that you’ve likely worked hard to build from the ground up into the entity that you always hoped it could be – you don’t

Posted in Client Education

Proving Noncash Charitable Contributions

One of the most common tax-deductible charitable contributions encountered is that of household goods and used clothing. The major complication of this type of contribution is establishing the dollar value of the contribution. According to the tax code, this is

Posted in Client Education

Take Advantage of the IRA-to-Charity Provision

Individuals age 70.5 or over—who must withdraw annual required minimum distributions (RMDs) from their IRAs—will be pleased to learn that the temporary provision allowing taxpayers to transfer up to $100,000 annually from their IRAs to qualified charities has been made

Posted in Client Education

Household Help: Employee or Contractor?

Frequently taxpayers will hire an individual or firm to provide services at the taxpayer’s home. Because the IRS requires employers to withhold taxes for employees and issue them W-2s at the end of the year, the big question is whether

Posted in Client Education

Transition Relief under the Employer Shared Responsibility Provisions

Under the Affordable Care Act, certain employers – referred to as applicable large employers (ALEs) – are subject to the employer shared responsibility provisions, which require ALEs to offer affordable minimum essential coverage healthcare coverage that provides minimum value to

Posted in Client Education

Not All Home Mortgage Interest Is Deductible

One of the current IRS audit initiatives is checking to see if taxpayers are deducting too much home equity debt interest. Generally, taxpayers are allowed to deduct the interest on up to $1 million of home acquisition debt (includes subsequent

Posted in Client Education

Automatic Tax Filing Extensions Available

A taxpayer who needs more time to complete his or her 2015 individual tax return can request an automatic six-month extension. The extension is obtained by filing IRS Form 4868 on or before the April 18, 2016 deadline.

Posted in Client Education

Jointly or Separately – How to File After Saying I Do

A taxpayer’s filing status for the year is based upon his or her marital status at the close of the tax year. Thus, if you get married on the last day of the tax year, you are treated as married

Posted in Client Education

Launching a Startup: 8 Steps to Make it Happen

Every year, thousands of entrepreneurs across the nation launch their own business. If you’re ready to start your own business, here’s a step-by-step overview of what you need to do to make your vision become a reality. 1. Start with

Posted in Client Education

Traditional to Roth IRA Conversions

The tax provision that allows taxpayers to convert a Traditional IRA to a Roth IRA is a great tax-planning tool when used properly, and timing is everything. To make a conversion, you must pay income taxes on the amount of

Posted in Client Education