Recently enacted legislation termed “CTA” may affect your tax planning. The recently enacted legislation is part of the National Defense Authorization Act (NDAA) enacted by Congress on January 1, 2021, through the override of a presidential veto. The NDAA is a series of federal laws primarily specifying the annual budget... read more →
Feb
18
Dec
14
PART I. More and more the news articles are extolling the depressing, disappointing and no longer totally surprising cyberattacks with the inevitable demand for a ransom…a staggering ransom with no guarantees that once paid your internet data would even be returned from deep dark space. These cybercrimes are multiplying at... read more →
Aug
14
5 Financial Safety Tips! The often forgotten piece of disaster preparedness After a natural disaster, having access to personal financial, insurance, medical and other records can help people starting the recovery process quickly. There are a few things you can do to help protect your financial safety in a disaster... read more →
Aug
14
Retention Credit The U.S. Treasury and the Internal Revenue Service issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC) permitting employers to exclude certain amounts from gross receipts solely for determining eligibility for the ERC.... read more →
Aug
14
US Tax Relief for certain employers claiming the Work Opportunity Tax Credit The U.S. Treasury is providing transition relief to employers claiming the Work Opportunity Tax Credit which is a federal income tax credit available to employers that hire members of groups specified in the Internal Revenue Code facing significant... read more →
Jun
30
Currently, these are the test that the Franchise Tax Board, FTB, apply to determine whether you are a California tax resident: FTB Closest Connection Test: The location of your largest and most expensive residential real property. Yes, this means that if you left California for another State or out of... read more →
Jun
29
This case was adjudicated by the Honorable Judge Robert M. Dow, Jr. Let's start with some background and some of this may cause you to pause and recall a similar matter. The Defendant is Eunice Sally, also known as Eunice Salley Dobyns, also known as Oya Awanata-Bey and also known... read more →
Apr
02
Can a trustee who is also a beneficiary exercise discretion to exclusively benefit oneself? Kansas intermediate appellate court reversed in Roenne v. Miller, 475 P.3d 708 (Kan. Ct. App. 2020), A parent’s will created a trust for the benefit of the parent’s five children and named one of them as trustee. The... read more →
Mar
26
Face masks and other personal protective equipment to prevent the spread of COVID-19 are tax-deductible WASHINGTON — The Internal Revenue Service today, March 26, 2021, made an announcement clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer, and sanitizing wipes, for the primary purpose of preventing... read more →
Dec
30
Belize and Nevis International Tax Fraud Scheme Robert F. Smith Agrees to Pay $139,000,000 to the U.S. Government. PART I. Robert F. Smith, the Chairman and Chief Executive Officer of a San Francisco based private equity company, was involved in an illegal scheme to conceal income and evade millions in... read more →