Keep More of Your Money: Top 12 Tax Strategies for the High-Net-Worth
High-net-worth individuals face unique challenges in managing their wealth, particularly when minimizing tax liabilities. Our firm offers expert guidance that will help you keep more of your money year after year. Whether you own rental properties around the country, stock options at multiple startups, or deal with inheritance taxes, we will help you preserve your […]
When Renting No Longer Makes Sense: A Financial Perspective
We often encounter clients who are at a crossroads: should they continue renting or take the plunge into homeownership? While renting offers flexibility, there comes a point when it may no longer make financial sense. This article will explore the tax implications, the impact of after-tax dollars, and current market conditions to help you determine […]
Have Fewer Than 50 Employees? Here is How the Health Care Act Affects You
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Holiday Spending Without the Stress: Smart Budgeting and Saving Tips for November
The holidays are right around the corner, and while the festivities bring joy, they can also bring financial stress if you’re not careful. With a bit of proactive planning in November, you can sidestep that dreaded January credit card bill and truly enjoy the season. Let’s break down a few smart budgeting and saving moves […]
2015 Return Not Filed Yet? You Could Lose Eligibility for 2017 Advance Premium Credit
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Seniors Beware, Affordable Care Act Will Be Cutting Your Medical Deductions
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
IRS Accepts Installment Agreement in Titusville, PA
IRS Accepts Installment Agreement in Titusville, PA IRS Installment Agreement – 08-22-2005 Taxpayer Situation: Taxpayer owed the IRS for tax years 1992-2003. The taxpayers were current with the filing of all their tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiationed an Internal Revenue Service Installment Agreement for a client in Titusville, PA. Legacy Tax […]
GOP Unveils Its Obamacare Repeal and Replace Legislation
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Single Member LLCs Personal Assets Vulnerable, Especially Regarding Payroll Tax Liabilities
Single Member LLCs Personal Assets Vulnerable, Especially Regarding Payroll Tax Liabilities Single Member LLCs provide very little creditor protection for the owner’s personal assets; especially when it comes to payroll tax liabilities. Case in point, the McNamee v. Dept. of Treasury case involves a six-person accounting firm that was operated as a Single Member LLC. […]
Ask the Taxman: Can the IRS Access My Stay at Home Mother, Wife For Payroll Trust Fund Penalties, When She Was Not Involved In the Business?
Ask the Taxman: Can the IRS Access My Stay at Home Mother, Wife For Payroll Trust Fund Penalties, When She Was Not Involved In the Business? The IRS has the ability to assess the “Trust Fund Recovery Penalty” against those that it determines are “Responsible Parties”. The Trust Fund Recovery Penalty is equal to 100% […]