Imagine that you could invest in real estate with all the advantages and a few disadvantages of the market. You can skip the process of buying and maintaining a property and jump straight...
Although it is too late to elect Section 475 mark-to-market (MTM) for fiscal 2020, the opportunity for 2021 is now available. In this blog post, I'll cover the scenarios that make...
It's tax season! Tax return companies and DIY software vendors work hard to convince individual taxpayers that their services and products are the way to maximize tax refunds or...
On January 19, the Treasury Department and the IRS released a final rule to help tax-exempt nonprofits comply with excise tax which is considered excessive under Section 4960 of the...
Posted by Unifirst Financial & Tax Consultants on 03/15/2021
Following the highly successful offshore voluntary disclosure program's closure at the end of 2018, the IRS updated its previous voluntary disclosure program. In April 2020, it...
Uncle Sam knows that many taxpayers are trying to limit or completely get rid of their federal income tax. They do this by claiming that all forms of compensation and funds received...
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Qualified pension plans have many tax advantages but some disadvantages for employers and highly compensated employees (HCEs) or entrepreneurs. For companies, qualified pension plans...
Posted by Daniel P Vigilante CPA and Profit Consultants on 02/23/2021
As a U.S. citizen or U.S. Resident Alien, you must pay taxes on your worldwide income. Suppose you are not a resident of the United States or its territories or have income in the...
Posted by James Financial Services Inc on 02/23/2021