In 2017, estate tax thresholds were at $5.49 million. In 2018, the threshold more than doubled to $11.18 million and now sits at $11.7 million. This increase is currently set…
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A certified public accountant, commonly referred to as a CPA, is a professional accountant who has passed the CPA exam in one or more U.S. states. CPAs must also meet requirements related…
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Although there are people who qualify as both, tax attorneys and certified public accountants (CPAs) are not the same. They are both financial professionals that aim to protect you and…
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Income Tax Deadlines for Individuals and Businesses in the U.S. Tax season is here again as the Internal Revenue Service (IRS) officially began processing tax returns on January 27, 2020.…
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The 2020 tax season officially begins on January 27th. While the last day to file isn’t until April 15th (unless you apply for an extension until October 15th), it never…
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As a tax consultant, many of my clients discover that this month is so packed with holiday parties, family get-togethers, and shopping that the year ends before they've had a…
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The Internal Revenue Service is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability…
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Filing your taxes isn't just a once-a-year endeavor. Maintaining good records throughout the year - and disposing of old ones when appropriate - not only provides you with greater confidence…
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The gift tax is also a component of the federal transfer tax system and is a tax imposed on transfers (i.e., gifts) of property during life, either given outright or…
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Accelerate Deductions and Defer Income - It sometimes makes sense to accelerate deductions and defer income. There are plenty of income items and expenses you may be able to control.…
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