August 31, 2015

The Kiddie Tax – Part One

Internal revenue code section 1(g) taxes unearned children’s income as if it belonged to the parents. This is known as the Kiddie tax. This income is […]
September 20, 2012

IRS Treatment Of Forgiven Student Loan Debt Causing Concerns

In the wake of the housing market collapse, many people have become familiar with the concept of cancellation of debt (COD) income.  The basis for COD […]
September 12, 2012

IRS $104 Million Whistleblower Payment Should Make Foreign Account Holders Nervous

Bradley Birkenfeld, a former UBS AG bank executive, was instrumental in helping U.S. authorities expose tax evasion facilitated by the Swiss banking giant.  The information Birkenfeld […]
September 7, 2012

Church May Have Violated IRC By Endorsing Romney For President

St. Raphael Catholic Church of El Paso Texas appears to have violated the IRC by endorsing Mitt Romney in its bulletin.  “I am asking all of […]
August 21, 2012

Tax Tips For Charitable Giving

Contributing money and property to a charitable organization is one of the ways that a taxpayer can support a charitable cause while simultaneously reducing their income […]
August 6, 2012

IRS Rules That Donations To Single Member LLCs Wholly-Owned By Charities Are Deductible

The IRS has issued a new notice which offers guidance regarding the deductibility of contributions made to a single member LLC that is wholly-owned by a […]
June 6, 2012

Challenges To DOMA May Lead To Changes In Same-Sex Couple Tax Planning

As challenges to DOMA keep mounting, the status of tax planning for LGBT couples find itself in a state of flux.  DOMA, fully known as the […]
May 31, 2012

Why Florida Is A Great Tax State For Retirees

Earlier this week we talked about the recent survey  which ranked Florida among the three states to do business in tax-wise.  Now it is time to discuss why Florida […]
May 29, 2012

Florida Tax Structure Ranked As One Of The Most Attractive For Businesses

A new survey of corporate chief financial officers released by Alvarez & Marsal Taxand, LLC, a tax consulting firm based in New York, ranks Florida among […]
May 24, 2012

IRS Announces Changes To Offer In Compromise Programs As Part Of Fresh Start Initiative

In the latest installment of the fresh start initiative, a program designed to assist taxpayers with settling their tax bills, the IRS has announced that it will […]
May 22, 2012

Senators Propose Legislation In Response To Facebook Founder’s Expatriation

Previously, we reported on Facebook co-founder Eduardo Saverin, who renounced his American citizenship months ahead of Facebook’s initial public offering, which occurred on Friday, May 18.  Many […]
May 14, 2012

Facebook Co-Founder Eduardo Saverin Renounces U.S. Citizenship Ahead Of Facebook IPO

Facebook co-founder Eduardo Saverin, best known for his bitter legal battle with Facebook founder and CEO Mark Zuckerberg which was highlighted in the popular 2010 film The […]