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

Lifetime gifts v bequests after death

The White House’s proposed tax reform plan includes repealing the estate tax. However, the “plan” is a one page outline with a bullet point simply stating “Repeal the death tax.” There are no details as to when this will occur. Moreover, the repeal could be short lived. As we saw back in 2010, the estate …

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IRS e-services upgrade planned for 2017

The IRS has continued to experience security breaches from identity thieves and, as a result, has endeavored to upgrade IRS e-services with more secure and modern technology. Upgrades are expected to the Get Transcript app, the Identity Protection Personal Identification Number (IP PIN) the e-file PIN, and the data retrieval tool for the Free Application …

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Friday – why’d you have to treat me that way?

I have to admit that Fridays post tax-season have a special place in my heart. I’m able to smile when someone says “Have a good weekend” rather than my inward snarl that takes place when I’m embroiled in the midst of tax season and Fridays hold no significance except as just another work day. So …

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Begging for the Earned Income Tax Credit

I recently ran across a 1999 tax court case that I thought was kind of humorous. Well I guess humorous if you do taxes for a living. Even though it is on the older side, it has some principles that can be learned for the earned income tax credit. The tax court case is Miguel …

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Millennials most likely to fall for tax scams

When most people think of Millennials, traits that come to mind probably include tech-savvy, progressive-thinking, and maybe a bit entitled. As a Millennial myself, the first trait that comes to mind is certainly not “tax scam victim.” Well surprisingly, in addition to being most likely to still live in their parents’ basements, Millennials are also …

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Advantages of a Roth IRA for retirement

Saving for the future can be a daunting task if you are unsure where to start or what the advantages of each type of saving can do for you. Let’s take a minute to look at the advantages of a Roth IRA. A Roth Individual Retirement Account (IRA) is an account you open and manage …

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Deduct your medical convention costs

Getting diagnosed with a chronic illness can be one of the scariest things that can happen to you in your life. What is this disease? How can I manage it? What is the medical industry doing to find a cure? These are probably just the cherries on top to the amount of questions that swirl …

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Mesa offers tax amnesty to businesses

The City of Mesa has begun a Tax Amnesty Program running from June 1, 2017 to July 31, 2017. This is the first City Tax Amnesty program offered in the Phoenix Metropolitan area, per the Arizona Republic. Taxpayers will be allowed to submit delinquent Transaction Privilege (Sales) Tax, Transient Lodging Tax and Use Tax reports …

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Out of state pension income – who gets your taxes?

The best part of being retired is no doubt the freedom of movement. This freedom allows retirees to live wherever they want and to move whenever they want. (Oh, the joy!) They may decide to move to someplace warmer, someplace cheaper, or even someplace closer to their kids or grandkids. The fact is that many …

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IRS future: will Uncle Sam be a robot?

Working on your tax return at 1am on April 14th? Not sure if you can deduct the vet bills you paid for Fido (a real question put to me once……no sorry you can’t)? Good luck calling the IRS. Even during normal business hours. We are already seeing questions being answered by devices like Apple’s Siri …

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