Dear Clients and Friends, Last December, Congress passed the Tax Cuts and Jobs Act which will greatly impact taxes for 2018. While the law was signed nearly a year ago, the Internal Revenue Service continues to issue regulations in response to tax professional questions in interpreting these new laws. Among the major changes: Lower individual … Continued
The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued
The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued
The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued
The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued
Tax Cuts and Job Act (TCJA): Impact on IC-DISC Effectiveness Let’s explore the use and effectiveness of the Interest-Charge Domestic International Sales Corporation (IC-DISC) in the new tax environment. For those new to an IC-DISC, the IC-DISC converts what would normally be ordinary business income into qualified dividends, thus generating a tax savings due to … Continued
Any change in Presidential Administration brings the possibility, indeed the likelihood, of tax law changes and the election of Donald Trump as the 45th President of the United States is no exception. During the campaign, President-elect Trump outlined a number of tax proposals for individuals and businesses. This letter highlights some of the President-elect’s tax … Continued
Nexus Updates Nexus Standards for Wholesale Sales With the passage of SB 6138 this past year by the Washington State Senate, wholesalers with sales into Washington are subject to a new set of nexus standards. Specifically, these businesses will be subject to the wholesaling B&O tax on Washington wholesale sales if they are “organized or … Continued
Financial statement fraud has been defined as the deliberate misrepresentation of the financial health of the company – either by intentional misstatements or omission of dollar amounts within the company’s financial statement. Without access to the internal books of the company, it’s difficult for an outside user to detect fraud. But there are certain signals … Continued
If you begin putting away $5,000 per year in a traditional IRA at age 45 and don’t start taking withdrawals until you’re 67, you’ll have more than $178,000 when you retire. This assumes a 4 percent average return on your investment. And, don’t forget, your taxable income will be $5,000 less each year for 22 … Continued