Instead of making an outright sale of commercial or investment property, the tax law enables you to “swap” it for like-kind property with out paying any current tax. However, things aren’t usually so cut-and-dried in the real world. For one thing, it is unlikely the potential buyer of your property will own any real estate… Read More
One of the biggest surprises in the new tax is that of Alimony: Effective 2019 Alimony is no longer deductible by the payer spouse and includible in income by the recipient spouse. This rule only applies for divorce or separation instruments executed on or before December 3, 2018 but modified after that date to include… Read More
Yes I know this is a late Christmas blog, but I felt since we are a Tax & Bookkeeping Service that my focus should be on the current tax changes….BUT since it is Christmas I felt I would do a fun blog about buying gifts for your partner at various relationship stages. Happy Holidays! When… Read More
I’m one of those people that love to read…books, magazines, journals. I used to list reading as a hobby on those questionnaires that I would answer but too many people called me a nerd so I stopped and replaced “reading” with “fishing.” I find that in December there are so many lists that are published… Read More
Taxpayers having a financial interest or signature authority over any foreign financial account such as a bank account, a securities account, or other types of financial accounts in a foreign country outside the U.S boarders must report these accounts to the Department of the Treasury if their aggregate balance exceeds $10,000 at any time during… Read More