A recent headline in Tax Analysts reads: “Reasonable IRS Appraisal Triggers Conservation Easement Settlement.” The article describes a long battle involving what the IRS calls “syndicated” conservation easement transactions. Hale E. Sheppard Esq. an Atlanta Georgia based Attorney stated in review of the ruling: “after the IRS was unable to win the case on technical issues [...]
There are many ways a tax return can be done that are all OK with the IRS, but only one of those ways nets the largest refund! People need to understand this across America, and we talk about tax planning constantly. We blog, tweet, post, email and on and on, yet we as an industry [...]
Tax filing season is looming again, with the IRS saying they will begin accepting returns between January 24th and 30th. However, it is possible that the IRS will delay the start of tax season a week or so beyond that, and returns containing Earned Income Tax (EITC) or Child Tax (CTC) credits may have refunds [...]
Photo by mehrab sium on Unsplash Source
Photo by Isabela Kronemberger on Unsplash Photo by Isabela Kronemberger on Unsplash Source
The IRS as Santa Claus? A gift under the tree that every business owner should want to open! Often the IRS makes new tax rules in reaction to a natural disaster, such as extending the filing deadline for Kentuckians after devastating tornadoes struck. Other rules are put in place to deal with changing financial dynamics, [...]
Many people have the intention of doing a better job of “tax planning” in order to start having more favorable outcomes, but busy lives and life interruptions can leave them little time. If this is you, you’re not alone. Time flies even in normal times, but with the current stressful environment, everyone is scrambling even [...]
At the end of the year the Salvation Army red kettles come out, the bells ring and the charitable organizations turn up their activities for fundraising, hoping to appeal to the holiday spirits of people, and in some cases the tax planning needs of businesses and corporations as well! Speaking of charitable giving and tax [...]
From our family to yours, have a safe and happy holiday weekend! Source
Many investors have had success this year, which might mean that capital gains tax reporting is on it’s way to their 2021 tax returns. If you own stocks you love and you didn’t sell this year, then you have no tax issues, so no problem for the direct buy and hold group. However, many people [...]