Batley CPA Tax & Business Alert December 2019
Ownership of your assets plays an important role in whether they can be seized by creditors. Thus, it might be wise in some situations to transfer ownership of certain assets to your spouse.
Batley CPA Tax & Business Alert November 2019
To qualify for a bad debt deduction, the underlying debt must be bona fide. That is, you must have loaned the money or extended credit with the expectation that you would be repaid and with the intent to enforce collection if you weren’t repaid.
Batley CPA Tax & Business Alert October 2019
It’s common for owners of closely held businesses to transfer money into and out of the company. But it’s critical to make such transfers properly. If you don’t, you might hear from the IRS.
Batley CPA Tax & Business Alert September 2019
Paying spouses will argue that, without the benefit of the alimony deduction, they can’t afford to pay as much as under previous rules.
Batley CPA Tax & Business Alert August 2019
This article provides both general and business-specific tax document retention guidelines.
Batley CPA Tax & Business Alert July 2019
When the TCJA was passed, the big estate planning news was that the federal gift and estate tax exclusion doubled from $5 million to $10 million.
Batley CPA Tax & Business Alert June 2019
The Tax Cuts and Jobs Act has given business owners much to think about, including whether to change the structure under which their companies operate.
Batley CPA May 2019 updates
Generally, profits from selling assets such as securities and real estate held in taxable accounts are classed as long-term if the holding period was longer than one year.
Batley CPA April 2019 updates
Your principal residence is probably a valuable asset, so you should be confident your homeowner’s insurance can protect you against multiple perils.
Batley CPA offers advice on qualified charitable distributions
They can take qualified charitable distributions from their IRAs and effectively reduce their income in a maneuver solidly supported by the tax code.