Tax Law
Power of Giving
Power of Giving - When the heart of a business is service, everyone receives and the lake continues to grow.
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IRS Scam
Here are four signs it's an IRS scam: 1. Demands of . . .
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Summer Plans
Have you taken the time to sure up your estate plan before travelling?  If not, let us help you get it done before you leave.  Call us at (877) 622-5840 today to make an appointment or see if our digital solutions might be a good fit.
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We all want a solution to the new tax liabilities we all face. You have recently learned about The Tax Cuts and Jobs Act - the new limits that the tax law has imposed on itemized deductions for state and local taxes (“SALT”). However, don’t buy the snake oil from the fast travelling dealer.
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Are you using itemized deductions on your federal tax returns? The Tax Cuts and Jobs Act made some substantial changes to itemized deductions for 2018 tax returns taxpayers will file in 2019. The major changes to itemized deductions include the following: Limited deductions for state and local taxes Limited deductions for home mortgage interest in...
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Want to avoid probate? A revocable living trust, “RLT,” is a typical answer for avoidance of probate.  The RLT is a viable solution for many people for the following reasons: (1) avoidance of probate; (2) privacy – probate is public record; (3) continuity of management of assets; and (4) tax planning, which is less common...
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Taxation of an LLC. A Limited Liability Company (“LLC”) is an entity formed under the laws of a particular state. The owner(s) of the LLC is called a “Member.” The operation of the LLC is governed by state law, and generally, those statutory operational procedures/options can be modified by a written agreement between the members....
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At times the IRS radar can shift to focus on specific targets.  Lately, we have notice a growth in a few areas that we wanted to share with our readers:  (1) Misclassification of Employees; (2) S-Corp Reasonable Compensation; and (3) For Profit or Hobby Farming.  Noncompliance in any of these three areas could lead to...
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virtual currency
What could the IRS be reminding us about today during tax season?  Oh, yes of course – Virtual Currency transactions.  It is always interesting overhearing people talk about virtual currency as if it is a mythical creature that the IRS doesn’t know about.  Not only does the IRS know about the mythical BitCoin and the...
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