My property professor in law school used to throw a little football around the lecture room to help illustrate to us 1L's what property is. He would say, “‘Property' is a bundle of rights.” For someone as wet behind the ears as I was at the time, it took awhile for the meaning of this statement t...
As self-settled asset protection trusts (SSAPTs) become more common throughout the US, they are inciting a debate among wealth management lawyers and others in the industry. With the increasing popularity of these trusts, state legislatures, including Georgia, may be forced to take a position on ...
Receiving a Notice of Deficiency from the IRS can be one of the scariest things to receive in the mail. However, just because you received that notice, does not mean that you necessarily owe those taxes. These next 7 blogs will give you, the taxpayer a rundown, of how and where to dispute a defic...
One narrow part of the new tax code has been the subject of some confusion among commentators. The new IRC Section 67(a) provides that for individuals, miscellaneous itemized deductions are only allowed if the aggregate of those deductions is greater than 2% of adjusted gross income. Miscellaneou...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
It is finally time to examine the standout provision of the 500+ page tax reform bill. Congress comprehensively reformed the tax regime for pass-through business, and this has generated a great deal of analysis from financial professionals tasked with understanding an incredibly complicated set o...
Each year, the Internal Revenue Service compiles a list of the 12 most common, dangerous or costly tax scams. They call this list their “dirty dozen” and recommend that taxpayers stay vigilant during tax season. We will summarize these twelve scams for you, and highlight the steps you should take...
Our first seven posts focused on individual taxpayers, and what they must know as tax laws change over the next three years. Now, we turn our attention to business owners. Congress made smaller adjustments to several regulations, but one of the most newsworthy changes involves pass-through busine...
This week we will take a break from lists of deductions to break down a specific concept: chained CPI. Many readers and taxpayers will be familiar with the Consumer Price Index, or CPI. The CPI is a measure of inflation that watches price changes in a set “basket of goods” over time. As a gallon ...
This week we will cover a few more headline-grabbing changes for individuals from the tax reform package. First, Congress eliminated the Obamacare coverage mandate, and there will be no penalty starting 2019. Unfortunately for those looking forward to immediate savings, this does not apply yet—w...
We have nearly finished covering the changes made to individual taxation! Business owners can prepare for the upcoming crash course in new tax structures, but for now, we return to the adjustments that affect those who itemize their deductions. First is the State and Local Tax Deduction, known a...
This week's post may be a little dry for some, but is aimed at the 30% of Americans who itemized deductions on their Schedule A. If you were in this group, you may be wondering what deductions were eliminated after we told you last week that the tax reform bill encourages a shift to the standard ...
Last week we outlined some changes affecting individual taxpayers, including adjustments to tax rates and brackets. This week we want to draw your attention to a few more parts of the tax reform bill that will impact many individuals and families. This bill encourages a broad shift from itemized ...
Notwithstanding changes to their treatment under the recent Tax Cuts and Jobs Act of 2017, carried interests continue to be in the news and in the cross-hairs of tax legislators and regulators, Bloomberg's Jennifer Epstein and Miles Weiss report. You can find the entire article here at Accounting...
As promised in our firstpost about tax reform, we begin by examining the timeline of changes established by the tax reform bill. Taxpayers will notice most changes in 2019, as the legislation only fully affects taxes beginning this year. However, a few provisions are already in place or do apply ...
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