Month: January 2014

IRS Releases Long-Awaited Draft Instructions To Form 8960: Computing New 3.8% Tax On Net Investment Income

With the majority of the U.S. beginning to resemble the planet Hoth from The Empire Strikes Back, I made the wise decision to flee the cold for the tropical [...]

What Is A QDRO?

Question: What Is A QDRO? Answer: A qualified domestic relations order is an order that needs to be included in a divorce agreement when dealing with [...]

Dividing Retirement Plan Assets in a Divorce

How a Qualified Domestic Relations Order (QDRO) Can Protect Your Rights Even while you're going through the difficulty of a divorce, you need to make [...]

Explaining To Wealthy Clients Why Their Tax Bill Is So High In Six Easy Steps

If you’re a tax advisor, then your holidays were anything but happy. This has been, without question, the worst year-end tax projection season in decades. [...]

With Tax Break Set To Expire, Partnerships Should Consider Converting To C Corporations Before Year End

Subchapter C corporations are like pit bulls or prostate exams — they carry quite the stigma,  but they’re not nearly as bad as they’re made out to [...]

14 IRS Audit Red Flags

Short on personnel and funding, the IRS audits only slightly more than 1% of all individual tax returns annually. We expect the audit rate for 2013 to fall [...]

Insider Tips: The Most Common Reasons Tax Returns Get Audited

For its Insider Tips From the Pros package, Kiplinger’s spoke with dozens of experts in fields ranging from college aid to travel to glean insights they [...]

IRS releases inflation adjustments for 2014

On Thursday, the IRS issued the annual inflation adjustments for 2014 for more than 40 tax provisions and the tax tables for 2014. Among the [...]

IRS announces automation of taxpayer resources, start of business filing season

The IRS announced on its website that, beginning in 2014, it will stop providing a number of taxpayer assistance services in person or over the phone and will [...]

Hiring your Children to work in your Business

What Can they Do – This is generally the opening question in this discussion. Obviously, the type of work for which you hire your child has to match their [...]