Your Guide to State, Local, Federal, Estate + International Taxation

Keeping track of your charitable donations for tax purposes

The fact is, making charitable contributions is a good way to give back to your community and can be deducted on your tax return. Let’s go over the details and major considerations that need to take place when donating items or money. Cash, checks + other monetary gifts Cash, checks or other monetary gifts are …

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Amazing inheritance stories – how some came into crazy fortunes

Who hasn’t purchased a lottery ticket and then spent the next few days, or the remaining hours before the big draw, dreaming about how you will spend the millions of dollars you are going to win. All the extravagant vacations, homes, cars, opportunities to share with family and friends, dance before your eyes! But are …

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Expanded debt relief for students of select defunct colleges

Student loan debt is a huge problem for Americans. The average student loan debt for the graduating class of 2017 is $39,400, which is up 6% from the prior year. Ouch! The scary part is that not all students are graduating from authentic and respectable colleges. Some students have found themselves graduating from fraudulent online …

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New secure IRS transcript aims to keep your tax info safe

The IRS has announced a new format for individual tax transcript that will better protect taxpayer data. This new will be rolled out on September 23, 2018. The main goal is to make greater strides to fight against stolen identity refund fraud. Over the last few years, criminals need more taxpayer details to better impersonate …

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New IRS regulations: be careful what you wish for!

August turned out to be quite a month for us in the IRS issued proposed regulations department. Quite the month. We started out with regulations clarifying 100% bonus depreciation from the Tax Cuts and Jobs Act (TCJA). As far as regulations go, these were not too game changing. You know, if you ignore the fact …

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AZ Supreme Court rules on Invest in Ed initiative

I have been very conflicted the past several months in Arizona. In case you were not aware, the teachers walked out in Arizona over the lack of support and school funding for our public schools. (The teachers wore red and sported a #RedForEd hashtag) Politics being politics, it came to an end after six days …

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6 Tips to protect your child from identity theft

Who would have thought that signing your child up for school could potentially be putting their information at risk? Well, it is a fact; identity theft is all around you in this era of new technology, and we need to be proactive in making sure that we keep ourselves and our children safe. Here are …

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MI law controls who receives Aretha Franklin’s $80 million estate

Aretha Franklin, the Queen of Soul, passed away on August 16, 2018. Her four sons filed court documents with the Oakland County Probate Court in Michigan. In those documents, they acknowledged that their mother did not have a will. It seems to be a trend with famous singer/songwriters to put off their estate planning until …

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So, I left for a wedding in France…

You know that saying “the grass isn’t always greener on the other side”? Debra Callicutt, our International Tax Partner, and I were talking before she left for a recent wedding in France. First, she was stressed about leaving because she has so many Forms 5471 to review before the September 15 tax deadline. But, goodness, …

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FTC: How to avoid a Bitcoin blackmail scam

When I received the August 21 Consumer Alert from the Federal Trade Commission (FTC) via email, I was amazed to find out that the FTC was forwarding instructions on, “How to avoid a Bitcoin blackmail scam.” Had the FTC had found a way to make us always behave in an appropriate manner? Or maybe they …

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