Latest News

Relevant Records Needed to Substantiate Employee Expenses

If you work for a business, you might incur certain expenses that are related to your job. In some cases, those expenses can be substantial. The process of claiming this deduction for employee business expenses might not be simple. You must go through several steps, and you’ll need relevant records to substantiate the deduction if you’re challenged by the IRS. The broad look In general terms, here is an... Read More

February/March Dates to Remember

February 15 All businesses. Give annual information statements to recipients of certain payments you made during 2017. Payments that are covered include amounts paid in real estate transactions (Forms 1099-S); amounts paid in broker and barter exchange transactions (Forms 1099-B); and payments to attorneys (Form 1099-MISC, if amounts are reported in box 8 or 14). Employers. For Social Security,... Read More

Does Your Small Business Have ‘Key Person’ Insurance

At a multinational corporation, the loss of any single employee may hardly cause a ripple in its ongoing business. That’s often not true for a small business. If you’re the prime mover, your inability to work could have severe consequences. The same is true if you have partners or other vital personnel who can no longer do their jobs. Building a strong team can hedge against this risk. Even so, your... Read More

Solving the Annuity Puzzle

Americans hold billions of dollars in annuities, yet they are widely misunderstood. Used properly, an annuity can serve valuable purposes in personal financial planning. On the other hand, some types of annuities are widely criticized, even scorned, by some financial advisers. Lifelong income What might be considered the purest type of annuity is a contract with an issuer, often an insurance company, for... Read More

Final Partnership Regulations Issued

On December 22nd President Trump signed Tax Cuts and Jobs Act as expected. This bill is the biggest tax reform the United States has seen in over 30 years. The bill contains many changes related to individuals, businesses, and specific industries. The real estate industry in particular will be impacted by the provisions related to expensing interest, depreciation and the recovery period for real... Read More

Tax Cuts & Jobs Act Impact on the Real Estate Industry

On December 22, 2017, President Trump signed Tax Cuts and Jobs Act as expected. This bill is the biggest tax reform the United States has seen in over 30 years. The bill contains many cuts and provisions related to individuals, businesses, and specific industries. The real estate industry in particular will be impacted by the provisions related to expensing interest, depreciation and the recovery... Read More

Webinar: The New Tax Laws and How They Impact Business Owners & Exit Planning

On December 22, 2017, President Trump signed into law The Tax Cut and Jobs Act the biggest reform to US taxes in several decades. The tax changes impact every corner of the economy, and every American taxpayer and business. Join us for a webinar on Tuesday January 23, at 2:00 p.m.: Exit Planning Under the New Tax Laws. Among others, Elizabeth Salvati will be a presenter. Click here to learn more... Read More

Reduce the Impact of a Catastrophic Event

From East Coast to West Coast, hurricanes and wildfires recently created huge losses of lives, property, and emotional wellbeing. In the middle of the United States, crippling natural disasters can range from blizzards to river flooding to tornadoes. News reports naturally focus on homes and families, but local businesses also are among the victims. There may be little a small company can do when it’s in... Read More

January/February Dates to Remember

January 16 Individuals. Make a payment of your estimated tax for 2017 if you did not pay your income tax for the year through withholding (or did not pay enough in tax that way). Use Form 1040-ES. This is the final installment date for 2017 estimated tax. However, you don’t have to make this payment if you file your 2017 return and pay any tax due by January 31, 2018. Employers. For Social Security,... Read More