Tax Planning

How Tax Reform Affects IRS Moving Deductions

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Often people end up changing cities for a better job opportunity or simply because they are expanding or shifting their existing business. Such a move [...]

Just In! This year’s list of the “Dirty Dozen” tax scams- Part I

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An annual ritual of the IRS, Dirty Dozen is a list of possible tax scams that innocent taxpayers can easily fall prey to. This list becomes especially [...]

GSP Trade Rules No Longer Applicable for India & Turkey

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On March 4th, the current Trump administration announced the end of its GSP trade with two nations - India and Turkey. The decision was justified on the [...]

“Choose Your Tax Preparers Carefully!” – IRS

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With the tax season in full bloom and a host of new and seemingly confusing tax reforms like the Tax Cuts and Jobs Act in effect, it is no surprise that a [...]

New Yorkers v/s The State Tax Officials : Who will win?

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It’s a cat-and-mouse chase between the elite of New York and the IRS! With the latest federal tax laws lowering the deduction limit on state and local [...]

IRS waives late tax payment fees

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Did you miss out on paying your tax liabilities in the fiscal year 2017-2018? We might have some good news for you! The US Federal income tax works on a [...]

All You Need to Know About W-2 Forms

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  As per IRS, every employer engaged in a trade or business who pays remuneration, including non-cash payments of $600 or more for the year for an [...]

Are 401K Savings Deductible From Your Taxes?

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The 401K is an employer-sponsored plan that allows an individual to replenish their retirement funds in a tax-sheltered manner. The limit is set to be [...]

Is your client the subject of an FBAR examination?

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FBAR or Foreign Bank and Financial Accounts report is required to be filed by a person residing in the USA, a domestic partnership, a domestic corporation, [...]

Demystifying Life Insurance – one myth at a time

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Life Insurance policies are often surrounded by a canopy of myths and confusion. This is mostly due to a lack of awareness which leads to a lot of hesitant [...]