Category: Technology articles

2018 Year-End Tax Planning Letter

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

Annuity Option for Pension Plan Payouts

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

Simplified Per-diem Increase for Business Travel

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

Research Credit for Internal Use Software

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

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

Post-Election Tax Letter

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

Loss Deductions for Ponzi Losses

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

Washington State Tax News and Updates

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

When a hobby becomes a business

So which is it – business or hobby and what do I do with it (tax wise)? Taking photographs during my many sightseeing trips and hiking excursions, as well as annoying my friends and family with limitless flashes during birthdays, weddings and dinners, was always my passion. With time, and as I could afford a … Continued

Tax Savings for U.S. Exporters

IC-DISCs: Tax Savings for US Exporters A unique tax incentive vehicle exists for taxpayers who manufacture or produce goods within the United States and then export those goods to foreign jurisdictions. The IC-DISC entity – formally known as the Interest Charge Domestic International Sales Corporation – allows for income to be taxed at qualified dividend … Continued