Act Now: Expanded Charitable Deductions End In 2021
Expanded tax benefits for charitable contributions expire at the end of 2021, so it is important to consider additional giving now.
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Lifelong financial planning requires grappling with complex issues and myriad choices. The right path forward depends on your short and long-term goals. Since 1981, the CPAs at Frazier & Deeter have provided thousands of clients with expert tax and financial solutions.
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Expanded tax benefits for charitable contributions expire at the end of 2021, so it is important to consider additional giving now.
The $3.5 trillion infrastructure bill has cleared the House tax writing committee and now is the subject of intense negotiations to move it forward.
Fans of best-selling crime author Karin Slaughter can’t wait for the release of her Netflix series, Pieces of Her. The author, an Atlanta native who has sold a reported 35 million copies of her books worldwide, is known for dark…
Liability for the estate tax falls on the estate assets and is limited by the value of those assets. Executors and beneficiaries generally do not have personal liability for estate taxes although the IRS can come after the assets held…
Learn the consequences of dying without a will and how to create a clear plan for the executor. Plus, understand how to distinguish and designate probate assets and non-probate assets.
Learn easy tools for every age and every stage to help you start saving for your goals — and living for your dreams.
Frazier & Deeter Tax Compliance & Controversy Specialist James Robertson discusses ways to audit proof your return.
Frazier & Deeter Tax Compliance & Controversy Specialist James Robertson discusses the evolving family structure.
Frazier & Deeter Tax Compliance & Controversy Specialist James Robertson discusses 5 sure fire ways to get audited.
It’s that time of year again when the IRS makes a special effort to warn taxpayers about ever-evolving tax scams. Fake charities, phony R&D and fuel credits and fraudulent phone calls are highlighted in this year’s annual “Dirty Dozen” list.
Tax professionals, including attorneys and CPAs, must read court cases for a living to keep up with the proper interpretation of the tax laws. The more cases you read, the more patterns start to emerge that help a tax advisor predict the outcome of tax controversies. Sometimes, cases take a surprising turn and have unexpected outcomes.
With a December 22, 2017 signing date and an effective date just nine days later, the IRS has been rushing to implement the Tax Cuts and Jobs Act so that taxpayers can make necessary changes in planning and reporting for 2018.
To attract private investment in distressed communities throughout the U.S., Congress has created a generous tax deferral program that allows investors to rollover their capital gains into special funds designated for investment in these areas.
The Tax Cuts and Jobs Act (TCJA) not only made major changes that grabbed headlines but also made tweaks to hundreds of tax rules, leaving taxpayers overwhelmed with questions about what their 2018 tax bill will look like and what they should do to minimize their taxes in the future.
Only one change was made in the “kiddie tax” under the Tax Cuts and Jobs Act, but it could be significant. Children will no longer be taxed on unearned income at the parents’ tax rate (the “kiddie tax” rule). Instead, the estate and trust income tax rates will apply.
It appears the IRS has a clear mandate from Congress to write flexible, taxpayer-friendly regulations on the new provisions of the 2017 tax reform law, as evidenced by the new Opportunity Zone regulations.
If you have a financial interest in or signature authority over a foreign financial account, you may be required to file a report each year with the IRS. The FBAR report is required for bank accounts, brokerage accounts, mutual funds, trusts, or other types of foreign financial accounts with an aggregate value exceeding $10,000.
IRS RAISES THE STAKES FOR U.S. TAXPAYERS WITH OFFSHORE ACCOUNTS This summer, the IRS reworked its offshore voluntary disclosure program, substantially raising the penalty for U.S. taxpayers who fail to disclose their overseas accounts before the IRS catches them.
The Tax Cuts and Jobs Act (TCJA) takes effect this year. The big question now is what are the big changes and how do they affect taxpayers with different situations?