Category Archives: Tax Planning

Are you coordinating your income tax planning with your estate plan?

  Until recently, estate planning strategies typically focused on minimizing federal gift and estate taxes, such as by giving away assets during life to reduce the taxable estate. Today, however, the focus has moved toward income taxes, making the coordination … Continue reading

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Boost your 2016 deductions by buying a business vehicle this year

  If you’re looking to boost your deductions — and reduce your 2016 tax bill — you may want to consider purchasing a business vehicle before year end. Business-related purchases of new or used vehicles may be eligible for Section … Continue reading

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It’s time to “harvest” investment losses

If you hold investments outside of tax-advantaged retirement plans, you may be able to take steps before year end to reduce your 2016 tax liability. Offsetting gains with losses Suppose you’ve sold investments at a loss this year but you … Continue reading

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Tax Court Denies Conservation Deduction; Easement Not Protected In Perpetuity

With the increased popularity and scrutiny of Conservation Easements, we thought it would be of interest to outline a recent tax court decision.  In a case of first impression, the Tax Court has found that a conservation agreement violated the … Continue reading

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IRS Unveils Procedures For Expensing, Bonus Depreciation And More Under PATH Act

The IRS has released guidance related to Code Sec. 179 expensing, bonus depreciation and other related changes in the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The guidance describes the procedures for filing amended returns and taking other actions.

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2016 New Tax Developments

  As 2016 comes to an end, we thought it would be beneficial to provide an overview of the new developments in US tax law. This overview includes the items we believe are most relevant for the year and is … Continue reading

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Partners Who Work For Disregarded Entity Owned By Partnership Are Self-Employed

Partners Who Work For Disregarded Entity Owned By Partnership Are Self-Employed The IRS has issued final, temporary and proposed regs that preserve a partner’s status as a partner, and not an employee, where the partner works for a disregarded entity … Continue reading

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2016 Business Tax Planning Ideas

With Congress still contemplating changes before year end, we thought it would be good idea to put together some planning ideas that you can implement before year end. If Congress passes actionable laws before year end, you can add those … Continue reading

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2016 Year-End Strategies: Straddling Two Years Of Significant Change

As we move into year end tax planning, we thought it would be good to set the stage for how we will approach this years unique planning challenges. Implementing tax strategies at year-end always presents unique challenges and opportunities. The impact … Continue reading

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Tax Relief And Tips For Hurricane Matthew Victims

In light of the most recent natural disasters, including Hurricane Matthew, taxpayers may find it useful to review what IRS-related assistance might be available and what is not covered by typical “tax relief.” This post presents an overview of the … Continue reading

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