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Why Justice Matters: The Income Tax Trial Of Martin Luther King, Jr.

Mon, 15 Jan 2018 09:14:00 -0500

More than 50 years ago, Dr. Martin Luther King, Jr., a leader in the civil rights movement, was on the receiving end of repeated harassment by tax authorities, including the IRS. He was eventually indicted by the State of Alabama: The result was surprising.


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New, Extreme Tax Implications For U.S. Citizens Who Live Or Have Interests Outside The U.S.

Mon, 15 Jan 2018 09:00:00 -0500

It's possible new tax law provisions were meant to ensnare large foreign corporations that had subsidiaries overseas, however, they also affect ordinary individuals of more modest means.


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What The Wealthy Should Consider Because Of The Higher Estate Tax Exemption Levels

Mon, 15 Jan 2018 06:23:00 -0500

The new tax law is highly advantageous to the wealthy in numerous ways. By reexamining and reworking their estate plans, many of the wealthy will be able to use some highly cost-effective solutions to ensure their loved ones will get meaningfully more of their wealth at their death.



What Is Comprehensive Wealth Protection For The Super-Rich And Single-Family Offices?

Mon, 15 Jan 2018 06:17:00 -0500

For the wealthy, especially the wealthiest of the wealthy, the combination of asset protection planning and family security services are in high demand because their affluence makes them targets.



High-End Wealth Managers Are Embracing Private Placement Life Insurance (PPLI)

Mon, 15 Jan 2018 06:09:00 -0500

Those wealth managers that fail to incorporate the latest super-rich solutions such as private placement life insurance are going to find it harder and harder to compete.



How Trusts And Estates Lawyers Can Profit By Facilitating Super-Rich Solutions

Mon, 15 Jan 2018 06:00:00 -0500

By being knowledgeable concerning super-rich solutions, trusts and estates lawyers are able to both generate substantially more revenues from their own clientele and possibly obtain a very significant number of new wealthy clients from high-caliber financial advisors.



Most Single-Family Offices Outsource To Elite Wealth Planners

Mon, 15 Jan 2018 05:52:00 -0500

While the services performed by elite wealth planner tend to be critical, they are often comparatively infrequent. Therefore, for most single-family offices, it tends to be more cost effective to engage elite wealth planners as needed.



The Positive And Negative Impact Of Tax Cuts For Investors

Sat, 13 Jan 2018 18:21:00 -0500

Investors with significant investment expenses will decry the suspension of that miscellaneous itemized deduction. Investors in pass-through entities may be surprised they might be entitled to a 20% deduction on qualified business income.


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Tax Reform Isn't Over -- Here Come The States

Fri, 12 Jan 2018 15:56:00 -0500

Simmering just beneath the headline federal tax reform plan, state governments are busy at work hatching their own tax reform measures that will soon make the tax landscape even more complex to navigate for big business.


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Counting Cryptocurrency Gains And Losses Without Running Afoul Of IRS Rules

Fri, 12 Jan 2018 13:12:00 -0500

Investing in cryptocurrencies can be a risky and speculative investment option, but with the potential for financial success, comes real and complex tax reporting obligations.


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How Traders Can Get 20% QBI Deduction Under New Tax Law

Fri, 12 Jan 2018 13:08:00 -0500

Traders eligible for trader tax status (TTS) are considering to restructure their business for 2018 to take maximum advantage of the "Tax Cuts and Jobs Act." Two tax benefits catch their eye: The 20% deduction on pass-through qualified business income, and the C-Corp 21% flat tax rate.


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Why 2018 Might Be A Good Year For Stocks

Fri, 12 Jan 2018 11:20:00 -0500

The market looks healthy as we move into 2018, but with such a long bull run, remember that a sell-off could come at any time


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Ask The Taxgirl: The $10,000 SALT Cap & Rental Real Estate

Fri, 12 Jan 2018 10:36:00 -0500

It's "Ask The Taxgirl." Today's question focuses on the $10,000 cap on state and local taxes under the new tax law - and whether it applies to rental real estate.


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Booming Markets Help BlackRock Cross $6 Trillion Mark, Strong Economy Bolsters JPMorgan Profits

Fri, 12 Jan 2018 09:59:00 -0500

Booming stock markets are leading to record profits at BlackRock. The same can't be said for Wall Street giants like JPMorgan, where profits are being carried by ordinary banking activity and the Federal Reserve, not trading.


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Ask Larry: ​​Are Spousal Benefits Really Still Available?

Fri, 12 Jan 2018 09:50:00 -0500

Today’s column addresses who might or might not still be able to get spousal benefits, whether an ex can file on your record and potential options for the cash strapped.


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The IRS's Private Debt Collection Program Once Again Looks Like A Failure

Fri, 12 Jan 2018 08:48:00 -0500

For the third time in recent years, Congress has required the IRS to turn some back taxes over to private firms for collections. An oversight report shows the agency has spent three times more on the program than the firms are collecting and remitting to the Treasury.


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21 Million Taxpayers Will Stop Taking Charitable Deductions Under The New Tax Law

Thu, 11 Jan 2018 15:52:00 -0500

The new law is likely to reduce charitable giving by somewhere in the neighborhood of 5%. And those gifts will come from fewer--and richer--givers.


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IRS Releases New 2018 Withholding Tables To Reflect Tax Law Changes

Thu, 11 Jan 2018 14:43:00 -0500

The Internal Revenue Service (IRS) has updated the income-tax withholding tables for 2018 to reflect changes made by the new tax law. The updated tables reflect the new rates for employers to use during the 2018 tax year. Here's what you need to know.


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Here's The Key Economic Indicator You Should Watch In 2018

Thu, 11 Jan 2018 14:04:00 -0500

Wage data will be important this year. It’s really the key to everything.


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3 Ways Artificial Intelligence Can Save The National Football League

Thu, 11 Jan 2018 09:59:00 -0500

It wasn’t that long ago that the NFL was considered infallible. But as the 2017 Playoffs kick off, that era seems like a distant memory. It begs the question: What can the league do to reverse the slide? Here are three ways the league could benefit from the promise of AI and wearable tech.


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Due Dates For Your W-2, 1099 & Other Tax Forms In 2018 (And What To Do If They're Missing)

Thu, 11 Jan 2018 08:03:00 -0500

Tax season is around the corner. If you're looking for your forms W-2 or 1099, here's what you need to know.


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Berkshire Hathaway Names Abel And Jain As Vice Chairmen As Buffett Succession Plans Sharpen

Wed, 10 Jan 2018 17:12:00 -0500

Warren Buffett's $500 billion investing conglomerate has sharpened its succession plans, offering vice chair roles and board seats to Greg Abel, head of Berkshire Hathaway Energy, and Ajit Jain, head of its insurance operations.


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Tax Reform: How Small And Medium Business Owners Can Maximize Tax Savings

Wed, 10 Jan 2018 15:03:00 -0500

Tax reform is now law --what can small and medium business owners do now to maximize their savings under the tax laws.


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Tax Reform: Facts Instead Of Partisan Positioning

Wed, 10 Jan 2018 11:52:00 -0500

Despite the harsh debate, the new tax law draws on bipartisan proposals and makes the code more equitable and more pro growth.


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Ask Larry: Can I Get A Lump Sum Payment?

Wed, 10 Jan 2018 09:37:00 -0500

Today’s column address the availability of lump sum payments, the availability of spousal benefits, divorced spousal benefits before retirement benefits and whether there is a lifetime limit to benefits.


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Many Lawyers Are Going To Become Very Rich Thanks To The New Tax Law

Wed, 10 Jan 2018 06:38:00 -0500

With the new tax law, the demand for legal services will only intensify. For lawyers in well-run firms, a sizable amount of this new business will end up going to their firm’s bottom line and from there into their own pockets.



How High-Net-Worth Accountants Build And Manage Exceptional Teams

Wed, 10 Jan 2018 06:34:00 -0500

In working with the wealthy, you will very likely have to put together and manage a team of specialists. By setting the ground rules and getting everyone’s buy-in, you will be able to ensure that your wealthy clients are being best served and your team is running efficaciously with you in charge.



What Super-Rich Heirs Want Most To Know About Wealth Management

Wed, 10 Jan 2018 06:26:00 -0500

Very few wealthy heirs are going to personally manage their substantial inheritances. Knowing how to find, screen, and work with high-caliber experts is very high on their list of concerns and tends to be their primary concern when it comes to wealth management.



What You Need To Know About Taxes & Cryptocurrency

Tue, 9 Jan 2018 14:03:00 -0500

Cryptocurrency is riding high these days. But even as more investors are taking a chance on digital currency, many are still confused about how to treat it for federal income tax purposes. Here's what you need to know


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5 Questions To Ask Your Estate Planner After The New Tax Law

Tue, 9 Jan 2018 13:01:00 -0500

Answers from your estate planner to these five questions can help you ensure that your estate plan is up-to-date and reflects your wishes.


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Ask The Taxgirl: Flipping Your Tax Refund Strategy To Keep More Of Your Paycheck

Tue, 9 Jan 2018 12:20:00 -0500

It's Ask The Taxgirl! Today's question is focused on flipping your tax refund strategy to keep more of your paycheck.


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Cryptocurrency Traders Owe Massive Taxes On Fat 2017 Gains

Tue, 9 Jan 2018 11:23:00 -0500

I confirmed what the media has been reporting: Coin traders made fortunes in 2017. Now that the 2017 tax-filing season is underway, these traders should gather online tax reports if available, use a coin trade accounting program, and review the latest guidance on tax treatment.


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Contingent Fee Lawyers Dodge Bullet In Tax Reform

Tue, 9 Jan 2018 08:48:00 -0500

Most contingent fee lawyers cover costs of the case until there is a recovery. But the IRS generally says lawyers can't deduct the costs.


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They Won The $1 Billion Jackpot - Here's What's Next

Tue, 9 Jan 2018 08:32:00 -0500

What would you do if you won $1 billion? Here are your next best steps.


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Ask The Taxgirl: Charitable Deductions For Giving Away Free Stuff

Tue, 9 Jan 2018 08:19:00 -0500

It's Ask The Taxgirl! Today: can you claim a charitable deduction on your taxes if you give away free stuff on Craigs List?


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Trump Declares War On Taxpayers In Democratic States

Mon, 8 Jan 2018 13:42:00 -0500

The Republican tax bill departs from tradition to specifically target citizens of Democratic states with higher taxes via the elimination of the deductions for real estate taxes and state and local income taxes, both of which are more important in the coastal states where those taxes are high.


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Ask Larry: ​​​​​​Can My Husband Get Spousal Benefits If I Continue Working?

Mon, 8 Jan 2018 10:33:00 -0500

Today’s column addresses the effect of the earnings test on the availability of spousal benefits, when to apply for widow(er)'s benefits, spousal benefits and public pensions, potential optimal filing times for a married couple and the availability of divorced spousal benefits.


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Dogecoin Explodes To $2 Billion, Reaches All-Time High

Mon, 8 Jan 2018 10:26:00 -0500

This Bitcoin alternative is now worth $2 billion - and has doubled its value in 2 weeks.


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5 Student Loans Resolutions For 2018

Mon, 8 Jan 2018 09:44:00 -0500

Make 2018 the year you ace your student loans.


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$10K State Tax Deduction Cap Prompts Bold Moves To Skirt California Taxes

Mon, 8 Jan 2018 08:50:00 -0500

From New York to California, a $10,000 tax deduction may prompt the states and their residents to take drastic action. Meanwhile, some taxpayers might vote with their feet.


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Five Retirement Housekeeping Moves For The New Year

Mon, 8 Jan 2018 08:47:00 -0500

Do yourself and your family a favor. Update your retirement documents now.


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For Many Of The Global Super-Rich The U.S. Is The Number One Tax Haven

Mon, 8 Jan 2018 07:10:00 -0500

With the incredible growth in the number and affluence of ultra-wealthy individuals and families across the world (with no end in sight), the amount of money from the global super-rich and even those less wealthy flowing into the United States is only going to multiply.



Want To Minimize Your Taxes, Consider Hiring An Elite Wealth Planner

Mon, 8 Jan 2018 06:59:00 -0500

If you want to understand the possibilities in your unique situation, you should consider hiring an elite wealth planner.



Senate Snuck A Tax Break For Subsidy Farmers Into Tax Cuts And Jobs Act

Sun, 7 Jan 2018 16:27:00 -0500

Rule that makes it harder for some wealthy taxpayers to take losses eases up on claiming losses from subsidized agricultural operations.


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To Incorporate Or Not To Incorporate: Breaking Down Your Options Under The New Tax Law

Fri, 5 Jan 2018 21:43:00 -0500

Most provisions of the new tax reform act kicked in beginning January 1, 2018. Taxpayers and tax professionals alike have been mulling what the provisions of the new law might mean - and how to be best get around them. Tops in the minds of many taxpayers: Should I incorporate now to save on taxes?


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You Can Greatly Increase Gifts To Kids -- But Should You?

Fri, 5 Jan 2018 13:22:00 -0500

With the passage of the Tax Cuts and Jobs Act, the lifetime gift tax exemption has doubled, Rob discusses why the decision to pass assets via current gifts is a difficult decision that should be made both deliberately and thoughtfully.


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Will California Bid To Substitute Charitable Contributions For State Taxes Work?

Fri, 5 Jan 2018 12:59:00 -0500

The tax treatment of the proposed California program—and maybe other similarly structured programs in effect in other states—is far from clear. The issue is acute now because the tax classification—implicit tax payment versus bona fide charitable contribution—matters due to the SALT deduction cap.


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The Five New Year's Resolutions Every Tax Professional Should Make

Fri, 5 Jan 2018 11:10:00 -0500

It's 2018: time to make a better you. And while I can't promise you six-pack abs or a whiter smile, I can make you a better tax professional.


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Ask Larry: Will Filing And Suspending Now Allow Spousal Benefits For My Wife?

Fri, 5 Jan 2018 09:26:00 -0500

Today’s column takes up filing and suspending, how benefits for spouses can be sequenced, early retirement benefits before a widow(er)'s benefit, filing early and eligibility for filing a restricted application.


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Tax Reform Winners: 3 Stocks To Buy, 1 To Watch

Fri, 5 Jan 2018 08:12:00 -0500

You and I both know the spoils from the GOP tax plan will go right into shareholders’ pockets—so let’s discuss how we can grab our piece of the action!


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Laws Of Tax Planning Updated For Tax Cuts And Jobs Act

Thu, 4 Jan 2018 18:18:00 -0500

Reilly's Laws Of Tax Planning updated for Tax Cuts And Jobs Act.


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IRS Announces 2018 Filing Season Opens January 29, Reminds Taxpayers About Delayed Refunds

Thu, 4 Jan 2018 14:38:00 -0500

The Internal Revenue Service (IRS) has announced that tax season will open on Monday, January 29, 2018. The IRS will begin accepting paper and electronic tax returns that day, with more than 155 million individual tax returns expected to be filed in 2018.


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Brookfield Goes Nuclear: Why You Should Watch The Canadian Giant's Restructuring Work

Thu, 4 Jan 2018 12:50:00 -0500

Dominion Energy and Brookfield Asset Management are stepping into the nuclear mess, hoping to buy big assets on the cheap. For real estate and infrastructure giant Brookfield, Thursday's $4.6 billion deal for Toshiba's bankrupt Westinghouse unit highlights its underappreciated restructuring skills.


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The New 'Qualified Business Income Deduction' Varies Based On Your Business Type - Or Does It?

Thu, 4 Jan 2018 10:50:00 -0500

The new "20% of qualified business income" deduction was intended to benefit owners of sole propietorships, S corporations and partnerships. But a straightforward reading of new Section 199A reveals that all three business types will not be treated equally under the law. Can this be correct?


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20% Deduction - Let The Games Begin

Thu, 4 Jan 2018 09:47:00 -0500

Tax advisers will be gaming the 20% deduction for qualified business income. Let the games begin.


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Tax Reform Changes To Recharacterizations And Roth IRA 2018 Contribution Limits

Thu, 4 Jan 2018 09:19:00 -0500

Tax reform is here and the changes are being felt with Roth IRAs. Lower tax rates could mean increased benefits of Roth tax savings but a popular strategy, recharacterization, that encouraged Roth savings by allowing taxpayers to undo a Roth conversion is no longer available under the new tax laws.


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What You Should Know About Taxation Of Cryptocurrencies

Wed, 3 Jan 2018 11:58:00 -0500

It is crucial to understand how virtual currency transactions are treated for tax purposes. The taxation of cryptocurrencies will likely continue to become a hot topic for many tax practitioners, so we can only hope the IRS will offer additional guidance in the near future.



Here's Why Trump's Tax Plan Might Be Counterproductive

Wed, 3 Jan 2018 10:16:00 -0500

The real impact will be on small and mid-sized businesses—particularly exporters and everyone who competes with imports.


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Housing Outlook 2018: 6 Predictions From The Experts

Wed, 3 Jan 2018 09:34:00 -0500

In 2017 Americans learned to expect the unexpected. This was true in politics, weather and housing. Here are the factors experts are watching to get an idea of where the housing market is headed in 2018.


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Ask Larry: Can I Suspend At 68 After Filing At 66?

Wed, 3 Jan 2018 09:04:00 -0500

Today’s column explores suspending after years of collecting a retirement benefit, the availability of benefit estimates from SSA, the advisability of waiting to file, benefits potentially available based on a spouse's record and options if a former employer didn't withhold SSA taxes from your pay.


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Ironically, Weinstein Tax On Sexual Harassment Settlements May Hurt Plaintiffs Too

Wed, 3 Jan 2018 08:51:00 -0500

The Harvey Weinstein tax may have designed to hurt harassers and their companies. But plaintiffs could face a big tax hit too.


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Another Advantage Of Being Super-Rich...Elite Wealth Planners

Wed, 3 Jan 2018 06:40:00 -0500

One advantage regularly making a monumental difference for the super-rich is their use of elite wealth planners. These experts deftly navigate legal systems and access cutting-edge financial products to mitigate taxes and protect wealth.



Filing Taxes Does Not Have To Be Completely Stressful For Military Families

Wed, 3 Jan 2018 03:30:00 -0500

Like many other things in military life, filing taxes can be quite stressful. Taking time for organizing documents can reduce stress when it is actually time to file.


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7 Steps Employees Can Take to Adapt To The New Tax Law

Tue, 2 Jan 2018 10:00:00 -0500

Here are some steps you can take now to adapt to the new law:


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Middle Market M&A -- Selling A Company? What's My Company Worth? Part 6

Tue, 2 Jan 2018 09:41:00 -0500

Selling a company? There are things that you can do to enhance the sale value of your firm but your buyer is also looking to capture value. When prepping your business for sale, you'll need to weigh this concept and prioritize what you work on.



Five Steps To Play Retirement Catch-Up

Tue, 2 Jan 2018 09:14:00 -0500

In your 50s? It’s time to put retirement savings first.


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Tax Geek Tuesday: Changes To Depreciation In The New Tax Law

Tue, 2 Jan 2018 09:08:00 -0500

The Tax Cuts and Jobs Act made substantial changes to the way businesses will depreciate their assets. Let's take a look at the new rules.


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Why Tax Reform Is Not The Top Issue For Retail Investors In Alternative Assets

Tue, 2 Jan 2018 08:00:00 -0500

Alternative investments, if they are conceived and structured with investor and product sponsor interests aligned, can offer investors income generation and reduced correlation to the broader financial markets.


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What Should You Do About The Life Insurance You No Longer Need?

Tue, 2 Jan 2018 06:56:00 -0500

For those families that purchased life insurance to pay federal estate taxes and no longer need or want the coverage, the smart move for them is probably to evaluate their situation and their options with trusted high-caliber professionals, so they can make informed decisions.



Accountants With Rich And Super-Rich Clients Should Have A Sensational 2018

Tue, 2 Jan 2018 06:32:00 -0500

The future of accountants serving the rich and super-rich is sensational before the new tax law. With the new tax law acting as a catalyst, the demand for the services of capable accountants is significantly expanding.



Many Trusts And Estates Lawyers Can Increase Their Incomes By $1 Million Or More In 2018

Tue, 2 Jan 2018 06:24:00 -0500

The demand for high-quality trusts and estates lawyers who can address a variety of tax and related issues for affluent clients is booming. Trusts and estates lawyers who take advantage of this opportunity can increase their income by $1 or more in 2018.



Top Tax Concerns Of My Readers In 2017

Mon, 1 Jan 2018 15:07:00 -0500

Tax act leads as top tax story of 2017.


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2018 GOP-Led Tax And Spending Debate Will Be Even Worse Than Last Year

Mon, 1 Jan 2018 07:00:00 -0500

This year's spending and tax debate is going to be worse than last year's, and 2017 was an absolute slum of a year as far as the federal budget is concerned.


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UAE And Saudi Arabia End Tax-Free Living, Roll Out 5% VAT As Oil Revenue Slump

Mon, 1 Jan 2018 06:59:00 -0500

A 5% levy is imposed on most goods and services to boost revenue as the collapse in crude prices since 2014 sparked cutbacks.


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Will A Global Corporate Tax-Cutting War Yield The Intended Benefits?

Sun, 31 Dec 2017 22:27:00 -0500

Governments poised to engage in a competitive war of cutting corporate taxes in response to the 2017 changes in U.S. policy as a strategy to woo away investors aren't addressing the factors that fundamentally attract investment. No matter how much lipstick is put on a pig, it’s still a pig.


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Top 100 Must-Follow Tax Twitter Accounts For 2018

Sun, 31 Dec 2017 16:46:00 -0500

Want to know what's happening in the tax world? Here are the top 100 must-follow tax Twitter accounts for 2018.


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The Complete List Of The 12 Days Of Charitable Giving 2017

Sun, 31 Dec 2017 11:26:00 -0500

Looking for the complete list for the 12 Days Of Charitable Giving 2017? Here it is, along with useful links to info you need when giving to charity.


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Earnings Havoc Unleashed By Tax Act

Sun, 31 Dec 2017 11:04:00 -0500

Tax act triggers unprecedented earnings adjustments this quarter.


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12 Days Of Charitable Giving 2017: Bigelow Laboratory For Ocean Sciences

Sun, 31 Dec 2017 08:34:00 -0500

It's the final day of my 12 Days of Charitable Giving for 2017. Readers have suggested deserving charities over the past few weeks, and I’ve been posting one a day for – well, 12 days (I’m clever that way). Today's charity is the Bigelow Laboratory for Ocean Sciences.


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IRS Warns On Email Scam, Advises Taxpayers To Watch Out For Similar Schemes

Sat, 30 Dec 2017 12:28:00 -0500

The Internal Revenue Service (IRS) has issued an alert about a new email scheme targeting taxpayers. Here's what you need to know to protect yourself.


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12 Days Of Charitable Giving 2017: The Diaper Bank

Sat, 30 Dec 2017 09:30:00 -0500

It's the eleventh day of my 12 Days of Charitable Giving for 2017. Readers have suggested deserving charities over the past few weeks, and I’ll be posting one a day for – well, 12 days (I’m clever that way). Today's charity is The Diaper Bank.


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Tax Bill For Dummies

Sat, 30 Dec 2017 07:15:00 -0500

A tax geek boils down a thousand pages for the proverbial man in the street.


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12 Days Of Charitable Giving 2017: Make-A-Wish International

Thu, 28 Dec 2017 18:19:00 -0500

It's the tenth day of my 12 Days of Charitable Giving for 2017. Readers have suggested deserving charities over the past few weeks, and I’ll be posting one a day for – well, 12 days (I’m clever that way). Today's charity is Make-A-Wish International.


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The Modified Home Mortgage Interest Deduction

Thu, 28 Dec 2017 13:50:00 -0500

Importantly, the final bill suspends (eliminates) the home equity indebtedness deduction for taxable years beginning after December 31, 2017 and through December 31, 2025.


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Complexity And Uncertainty Add Psychological Cost To The GOP Tax Cuts

Thu, 28 Dec 2017 11:30:00 -0500

The tax bill that passed last week made good on a host of Republican campaign promises. But it doesn’t even come close on one that almost every agrees is way overdue: Reducing the complexity of the tax code.


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When You Shouldn't Prepay Your 2018 Property Taxes

Thu, 28 Dec 2017 11:18:00 -0500

In the wake of the signing of the new tax plan into law, there’s been a flurry of activity as people in high-tax states rush to prepay property taxes for 2018. But it might not be such a helpful tax move. Here's why.


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How Much Owner Salary Should S Corp Pay To Maximize Qualified Income Deduction?

Thu, 28 Dec 2017 10:59:00 -0500

How much salary to pay owner of S corporation with no other employees? Consider the 28.57% solution.


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Loophole Allows Tax-Free Bitcoin Exchanges Into 2018

Thu, 28 Dec 2017 08:47:00 -0500

1031 exchanges of Bitcoin and other crypto assets won't qualify after 12/31/17. However, it turns out there's a way to delay this rule into 2018.


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How Trump's Tax Plan May Affect Your Business

Thu, 28 Dec 2017 07:00:00 -0500

You may not always agree with President Trump or even agree with his tax plan, but it is important that we do our part to improve the conditions of America and the American economy.


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Trump's New Tax Reform Likely Won't Help The Trade Deficit

Thu, 28 Dec 2017 06:03:00 -0500

If President Trump mostly cared about delivering a tax cut, he can be proud of his party’s achievement. If he really cared about the trade deficit, he likely just pressed the wrong button.


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Inside The Secret Treasures Of The Republican Tax Overhaul

Wed, 27 Dec 2017 22:12:00 -0500

Buried within this trickle-down economics-based tax overhaul are a bunch of secret provisions that have little to do with taxes, such as dealing a potentially lethal blow to Obamacare and rejiggering the inflation rate used to calculate retirement benefits. What other morsels are hidden inside?


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Types Of Work That Will Not Qualify For 20% Deduction - Some Devilish Details

Wed, 27 Dec 2017 20:02:00 -0500

Various fields of endeavor will not qualify for the 20% Qualified Business Income deduction. Most reports on the subject are misleading.


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IRS Offers Guidance On Prepayment Of State & Local Property Taxes

Wed, 27 Dec 2017 18:48:00 -0500

To prepay or not to prepay state and local taxes? That's been the burning question over the past week. The Internal Revenue Service (IRS) now has an answer as to whether it might accept prepayment as a tax strategy - and not surprisingly, it's maybe.


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12 Days Of Charitable Giving 2017: Institute For Veterans And Military Families

Wed, 27 Dec 2017 18:02:00 -0500

It's the ninth day of my 12 Days of Charitable Giving for 2017. Readers have suggested deserving charities over the past few weeks, and I’ll be posting one a day for – well, 12 days (I’m clever that way). Today's charity is the Institute for Veterans and Military Families.


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Understanding The New Tax Law: A Q&A With David Kirk, Former IRS Attorney Turned EY Tax Partner

Wed, 27 Dec 2017 16:57:00 -0500

There are few people who understand the tax law as well as David Kirk, former attorney for the Office of the Chief Counsel at the IRS and now a national tax partner for EY. In this Q&A, I sit down with David to get his take on the new tax law.


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Early 2018 Paychecks Won't Look Much Different Until IRS Finalizes Withholding Guidance

Wed, 27 Dec 2017 13:30:00 -0500

So about that tax reform: The Internal Revenue Service (IRS) is working to develop withholding guidance to implement the tax reform bill passed by Congress. What does that mean for your paycheck? Chances are, it won't look different any time soon.


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4 Tax Moves To Consider Before December 31

Wed, 27 Dec 2017 11:01:00 -0500

In 2018, the corporate tax rate is falling, federal income tax brackets are moving and there are big changes to your ability to itemize deductions. Here are a few things financial planners are suggesting you do before year end.


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Unlike Trump's Tax Reform, Japan's Taxation Plan Is Neither Bold Nor Stimulative

Wed, 27 Dec 2017 02:47:00 -0500

Despite some good elements, Japan's tax reform is timid, and the next year's budget is contractionary. Coupled with the BOJ's inaction, they would pose threats to the prospect of the Japanese economy.


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12 Days Of Charitable Giving 2017: HAVEN

Tue, 26 Dec 2017 12:50:00 -0500

It's the eighth day of my 12 Days of Charitable Giving for 2017. Readers have suggested deserving charities over the past few weeks, and I’ll be posting one a day for – well, 12 days (I’m clever that way). Today's charity is HAVEN.


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