Before meeting with your tax accountant, it’s essential to review a list of required items necessary to complete the filing. While each taxpayer is different, both individual and business, there are standard items required for each to prepare the returns.
Over the years, the estate planning game has changed for the majority of taxpayers. Due to the increased exemptions, only 1,800 decedents will be required to pay an estate tax in 2019, but the need for planning continues.
The end of the year is a time of review and evaluation for many business owners. It’s an excellent time to review company sales performance, new product/service development, customer retention, and production efficiency.
Each year presents a new opportunity for you to revamp your estate plan. When the calendar turns over, take a peek at your strategy once again.
If you are a nonprofit organization that needs to know whether income is taxable as unrelated business income, this program is a must-attend event. Join Klatzkin’s Michelle S. Martin, CPA, as she discusses basic unrelated business income concepts and shares examples of methods to minimize taxable income.
The California Consumer Privacy Act (CCPA) goes into effect on January 1, 2020. The CCPA is desgned to give consumers more control over their information in a climate where data breaches are occurring on an almost daily basis. Even if your business isn’t located in the Golden State, you may still be required to comply. Are you prepared? Continue reading…
Sharing your wealth with family, friends, and loved ones may be easier said than done.
The IRS prevents the tax-free transfer of wealth both before and after death. The estate tax applies when you transfer wealth after death, and the gift tax applies when you transfer wealth during your lifetime. Although their rules are a bit different, the two taxes go hand in hand, which is something to be discussed later. But first, let’s go over the basics of gift taxes and discuss how the gift tax laws will impact you now and into the future.
The college admissions cheating scandal is all over the news, and rightfully so. This story involves the rich and famous, some of the most elite universities and colleges in the nation, and a nonprofit organization that allegedly engineered more than 800 bribes and other initiatives to benefit the children of its wealthy “donors.” The scandal involved everything from cheating on college admission tests to bribing athletic departments to giving students sports scholarships that they did not deserve.
Most people hire a lawyer to administer a loved one’s estate after they pass. While having a lawyer involved is always advisable, there are many advantages to also working with a Certified Public Accountant (CPA) who specializes in estate planning and administration, even if the lawyer is a tax attorney.
The Internal Revenue Service (IRS) officially opened the 2019 tax season on January 28, 2019. This is the day that the IRS began accepting paper and electronic tax returns.
