Tax Articles
Summer Loving? Financial Considerations to Think About Before You Tie the Knot
Posted by Kelsey Weigel on August 20, 2019
For many couples, summer is the quintessential time to tie the knot, but there's more than the ceremony to consider when a couple merges their lives, including taxes and other financial issues.
BDO Real Estate & Construction Monitor | Summer 2019
Posted by Brian Kern on August 19, 2019
Available through our affiliation with the BDO Alliance, download the summer edition of the Real Estate & Construction Monitor.
Uncertain Tax Position Disclosures: Is Your Organization in Compliance?
Posted by Donna Gonser on August 16, 2019
As a not-for-profit, tax-exempt organization, you might think the subject of “uncertain tax positions” (UTPs) doesn't apply to you. Think again.
Final Regulations Limit Federal Charitable Contribution Deductions in Connection With Receipt of State Tax Credits
Posted by Mark Stack on August 12, 2019
On June 13, 2019, the IRS and Treasury Department issued final regulations under Section 170, limiting federal charitable contribution deductions when taxpayers receive or expect to receive state or local tax (SALT) credits in return for charitable donations.
Five Mid-Year Tax Planning Strategies for Individuals
Posted by Cheryl A. Jankowski on August 05, 2019
Whether you are looking for ideas to help cut your tax bill for the current year, or you are hoping to minimize future taxes, now is a good time to start thinking about your tax planning strategies.
IRS Approves Spousal IRA Rollover Despite Existence of Trust
Posted by Robert Ingrasci on July 02, 2019
The IRS has privately ruled that a surviving spouse can roll over their deceased spouse's IRA — payable to a trust of which they sole trustee and beneficiary — into their own IRA. Generally, where an IRA beneficiary is a trust, a surviving spouse is barred from treating a decedent's IRA as their own account.
Dynasty Trusts Are More Valuable than Ever
Posted by Cheryl A. Jankowski on June 28, 2019
The Tax Cuts and Jobs Act has brought great changes to estate planning. In doing so, it bolstered the potential value of dynasty trusts. This article explains why these trusts are well worth considering for tax purposes. We'll also look at valid nontax reasons for establishing one.
Beneficiaries Learn a Lesson About Paying Estate Taxes
Posted by D’Marie Murray on June 27, 2019
Beneficiaries of a South Dakota estate failed to make a payment when submitting a federal estate tax return — and again failed to pay when the IRS subsequently notified them of additional assessments. The IRS sued. In U.S. v. Ringling (2017), a district court reviewed the facts and ultimately granted the IRS's summary judgment motion.
IRS and Treasury Release Second Set of Opportunity Zone Guidance
Posted by Cory Van Deusen V on June 14, 2019
On April 17, 2019, the IRS and Treasury issued its much anticipated second set of proposed regulations under Internal Revenue Code, Section 1400Z-2, Special rules for capital gains invested in opportunity zones.
Article IRS Announces Changes for Personal Use of Employer-Provided Vehicles
Posted by Kevin Smeader on June 11, 2019
The free use of a company car is one of the best perks an employee may receive as part of a compensation package, but the benefit to the employee isn't completely “free” under current tax law.