Category Archives: Finance & Banking

Foreign Bank Account Reporting Due June 30th

Any US person that has a financial interest in, or signature authority over, foreign financial accounts whose combined values exceeded $10,000 at any time during the 2014 year, generally must disclose such accounts by filing an FBAR (Report of Foreign Bank … Continue reading

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FACTA

FACTA, the Foreign Account Tax Compliance Act was enacted in 2010, as a portion of the Hiring Incentives to Restore Employment.  This act has been placed into service, to target non compliance by U.S. taxpayers using foreign accounts. It will … Continue reading

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Tax-Smart Cash Choices

Cash and cash equivalents such as CDs, savings accounts, and money- market funds, are core parts of most asset allocations, as anchors to limit portfolio volatility and safe harbors from choppy markets. But cash is the least tax-efficient investment. Bank … Continue reading

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How Section 529 Plans Can Help With Your College Savings

These days saving for college can be harder than saving for retirement. Consider Section 529 Plans which offers various tax advantages. Section 529 Plans are state-sponsored college savings plans that allow you to set aside money for your child’s education … Continue reading

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Foreign Bank Account Reporting Due June 30th

There is a major and often overlooked tax filing that is due on June 30th. Any US person that has a financial interest in or signature authority over foreign financial accounts with an aggregate value in excess of $10,000 at … Continue reading

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StartupLounge coming September 15th

We are proud to be sponsors of the StartupLounge in Savannah on September 15th.  This is an event which tries to connect start up businesses with much needed capital investment.  Read more or check out their website.

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So why do we care that the IRS has lowered its Interest Rate?

Our clients know that we have used the low IRS interest rate environment as a short term borrowing mechanism through this economic down turn. Currently, the IRS collects an annualized interest rate of 4% on underpayments by individuals.  In essence, … Continue reading

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Untapped VA Benefits for Elderly

I went to lunch the other day with Mike Smith, an attorney, with Smith Barid.  During our lunch, Mike started telling me about some great VA benefits for those over 65.  As Mike explained, subject to certain income limits, any … Continue reading

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Georgia “Angel Investor Tax Credit”

In June, 2010 Georgia passed a law known as the “Angel Investor Tax Credit”. This provides for a Georgia tax credit of up to $50,000 annually for investors of early‐stage, start‐up companies in Georgia. The purpose of the tax credit is … Continue reading

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Venture Capitalists & Private Equity Taking Advantage of QSBS

Since late last year we have been gearing our attention towards Qualified Small Business Stock. Now there are a number of reported venture capitalists and private equity groups structuring their start ups to qualify for these tax benefits. As we … Continue reading

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