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On October 31, 2013, the IRS issued Rev. Proc. 2013-35 in which it announced that the Unified Credit Against Estate Tax for decedents dying in 2014 is $5,340,000 per person. This is a $90,000 increase for inflation. The IRS also confirmed that the annual gift tax...
The United States Department of Treasury has issued a news release today regarding the FATCA FFI Agreement. Click here to access the FFI Agreement that foreign financial institutions must use.If you have any questions, call our office at our office.
The United States Department of Treasury has issued a news release today regarding the FATCA FFI Agreement. Click here to access the FFI Agreement that foreign financial institutions must use.If you have any questions, call our office at our office.
With practically no guidance being provided by Congress, courts have been trying cases regarding the application of sales tax to online retailers like Amazon.com, Inc. Unfortunately, not all state rulings have been consistent.One state court ruled that Amazon and...
With so much news about implementation of the new health care law, a tax credit benefit may be overlooked by some qualified participants. Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the...
Even though California based Twitter hasn't made any money this year, it is doing some major tax planning. Just as Apple and Facebook have made moves to sidestep the IRS, Twitter is taking steps to move out of the country to save on taxes. These plans are being made...
The Internal Revenue Service today announced a delay of approximately one to two weeks to the start of the 2014 filing season to allow adequate time to program and test tax processing systems following the 16-day federal government closure.The IRS is exploring options...
The Financial Awareness Foundation is celebrating the 5th Annual Estate Planning Awareness Week October 21 through 27. According to the Foundation's website, it is estimated that over 120 million Americans do not have an up-to-date estate plan to protect themselves,...
The New Employment Credit (NEC) is available for each taxable year beginning on or after January 1, 2014, and before January 1, 2021, to a qualified taxpayer employer that hires a qualified full-time employee on or after January 1, 2014, and pays or incurs qualified...
Sometimes a client cannot pay their bill. When this happens, some business owners will look to the goods or services provided by the client in her business, to see if a trade can be made to satisfy the debt. While most business owners would rather be paid for services...
