…with loan forgiveness as taxable, by way of disallowing deductions. This Notice lacked important details that left taxpayers and practitioners with questions. When should a taxpayer recognize the income attributable…
Considerations for planning to meet your philanthropic goals Qualified Charitable Distributions (QCD) are a valuable tax planning technique for individuals over age 70.5 to meet their philanthropic goals, utilizing a…
…an estate planning perspective, 529 contributions, when paired with the annual gift tax exclusion, allow families to shift substantial assets out of their taxable estates without using lifetime gift and…
…injury for the taxpayer, the taxpayer’s spouse, co-owner of the house, or a person whose principal place of abode is in the same household as the taxpayer or any relative…
…percent limitations, Pease limitations, and Alternative Minimum Tax (AMT), the new tax law shined a bright light on investment expenses. In the context of hedge funds, fund of funds, stock…
…bailout strategy. Given the difference between ordinary income tax rates and capital gain tax rates, it is easy to understand why the IRS might challenge a taxpayer’s reporting of a…
The Employee Retention Credit (ERC) is a complex tax credit for businesses and tax-exempt organizations that continued paying employees during the COVID-19 pandemic because their operations were either: 1) fully…
What the IRS’s Bonus Depreciation Guidance Means for Strategic Tax Planning Following the passage of H.R. 1, formerly the One Big Beautiful Bill Act (OBBBA), the IRS has released guidance…
Accounting, Tax, Audit & Consulting – Raleigh (NC) Our team of seasoned professionals specialize in assisting high net worth individuals and business owners navigate the complex tax landscape, assist…
…2022. Tax Update Presentation Agenda Pending Tax Legislation 2021 Planning: Key Provisions for Consideration Review or 2020 Tax Acts Action Items View more presentations from this event: State and…
…to know the charter and nature of its tax impacts. The taxable interest income resulting from a contingent payment debt instrument does not always follow investor expectations. There are cases…
By Gary G. Wallace, CPA | Tax Partner As part of the 2017 Tax Cuts and Jobs Act, Congress initiated a new tax deduction for qualifying pass through businesses. Section…