Retirees have special concerns when evaluating state tax policies: Are Social Security benefits taxed? Does the state impose its own estate tax? Are there property tax breaks for seniors? The answers can greatly affect the financial well-being of someone living…
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By Allison DeLuca, CPA, Melville, N.Y. October 1, 2015 The U.S. real estate market has always attracted the attention of investors and developers worldwide and even more so recently because of a number of factors including increased financing channels…
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By Sally P. Schreiber, J.D. October 20, 2015 An IRS-led coalition is making progress in the fight against tax-return identity theft the agency announced on Tuesday (IR-2015-117, FS-2015-23). IRS Commissioner John Koskinen called the collaborative effort an ?unprecedented partnership ……
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On October 21, 2015, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. Here are the highlights: 2016 Plan Limits
IR-2015-119, Oct. 21, 2015 WASHINGTON ? For tax year 2016, the Internal Revenue Service today announced annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2015-53 provides details about…
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By Susan C. Allen, CPA/CITP, CGMA, Durham, N.C. October 1, 2015 The worker classification issue persists due to the inherent tug-of-war between workers, who tend to prefer employee status, and payers/businesses, which often prefer to classify their workers as…
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By David J. Holets, CPA, Indianapolis September 1, 2015 Most employers take advantage of the accountable plan rules to deduct travel and entertainment expenses. Amounts received by an employee under an accountable plan are deductible by the employer without any…
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Clients dragging their heels? Let them know why estate planning is so important. By Patricia M. Annino, J.D. October 12, 2015 Clients tend not to want to deal with estate planning until they absolutely have to. In my 30 years…
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By Sally P. Schreiber, J.D. Printed by The Tax Adviser October 8, 2015 At the end of every year, it seems, taxpayers wait anxiously for Congress to enact extensions of popular business tax breaks, and every year Congress waits to…
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