High income taxpayers face tax issues that others don't face. From additional filing requirements to restricted access to certain deductions, it's vitally important to the health of your estate that you and your accountant keep
Earlier this month, the IRS released proposed regulations aimed at eliminating certain practices of transferring value to descendants at a discounted value. The proposed regulations under IRC Section 2704 are aimed at two current estate
Many taxpayers take advantage of the itemized mortgage interest tax deduction on the mortgage interest paid in a calendar year on their first and second residences. Until recently, the amount of interest a taxpayer can
Many people are aware of the ability to contribute to their employer’s 401(k) plan, currently set at $18,000, either through a tax-deferred 401(k) account or a tax-free Roth 401(k) account. However, many employer 401(k) plans
Last month, I was invited to speak at the 2016 National Professional Anglers Association (NPAA) Conference, held Jan. 8-10 in Wisconsin Dells. The conference topic “From Passion to Profession” could not have been more appropriate.
On Friday, December 18, 2015, Congress passed an important tax bill that has finally given us some certainty in tax law. The Protecting Americans from Tax Hikes (PATH) Act of 2015 has retroactively restored a number
For most of us, the question, “Which state are you living in?” is a fairly easy one. For others, particularly professional athletes and warm weather-loving retirees, it can be difficult to answer. That’s because these
With the holiday season upon us, charitable contributions play a significant role in making the holiday season a bit merrier. To many, charitable contributions also play an important part in their year-end tax planning strategy.
Earlier this month, the U.S. Supreme Court dismissed the City of Cleveland’s appeal on two tax cases that challenged the city’s non-resident taxation of NFL players during the 2012-2015 tax years. While Cleveland is not
Are there steps you can take that will lower your federal income-tax liability? Given the tax law’s complexity, the answer is probably “yes.” Effective tax planning can help reduce your tax bill, leaving you with