Congress Green-Lights Some Alternative Vehicle Credits
Article Highlights: Hybrid Credit (Expired) Four-Wheeled Plug-In Electric Drive Vehicle Credit Qualified Fuel Cell Motor Vehicle Credit Two-Wheeled Plug-In Electric Vehicle (Motorcycle) Credit Alternative Fuel Vehicle Refueling Property Credit Refund Opportunity On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which includes a number of tax law changes, including extending […]
Caring for Someone at Home? Here are the Tax Issues.
Article Highlights: Home Care Workers Employee Payroll W-2 1099-NEC Medical Deduction Equipment and Supplies Nursing Services Home Modifications Because people are living longer now than ever before, many individuals are serving as care providers for loved ones (such as parents or spouses) who cannot live independently. It can be tough enough caring for a disabled […]
Where is Estate Tax Going in the Future?
Article Highlights Estate and Gift Tax Lifetime Exclusion Amount Gifting While the LEA is at its Current Level Annual Gift Tax Exclusion Inherited Basis Capital Gains Rates Tax Planning The Tax Cuts and Jobs Act (TCJA, often referred to as tax reform) generally became effective in 2018 and increased the federal estate and gift tax […]
Treasury and IRS Announce 90-Day Delay for Tax Payment Deadline
UPDATE: Since this article was published, Treasury Secretary Steven Mnuchin has announced that the tax filing deadline for the 2019 tax year will also be extended by 90 days to July 15, 2020. This is available to everyone and means that taxpayers do not need to file for an extension by April 15th in order to […]
US Tax Advice for US Expatriate Living and Working in Maldives
Tax Guide for US Expats Living and Working in Maldives Download Our Expat Tax Guide Who Is Liable For Income Taxes in Maldives Maldives has no personal income tax. To learn more about the history, culture, economy and other information about Maldives We have been preparing US income tax returns for US Citizens and permanent residents […]
Families First Coronavirus Response Act: What Employers Need to Know
The rapid spread of the COVID-19 virus has begun to initiate an economic downturn and spurred a series of rapid responses on the part of the government. There have been so many proposals and versions floated regarding employee policies during the public health emergency that employers are understandably confused. Though there was an initial belief […]
Year-End Investment Moves
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 […]
Coronavirus and Taxes: Frequently Asked Questions (FAQ)
The COVID-19 outbreak is affecting every facet of our lives – including our taxes. Check here for all your FAQs to see how you may be impacted. Q: Has the government extended the filing deadline? A: Yes, the federal government has extended the April 15 filing deadline for 2019 tax returns to July 15, 2020. Please […]
Beware of Scammers During the COVID-19 Crisis
As part of the efforts to contain the COVID-19 outbreak, the elderly, especially those over the age of 80 who are most susceptible the dangers of the virus, have been asked to self-isolate themselves. At the same time, the public has been asked to assist family, friends and neighbors who can’t do their own their […]
Tax Filing Deadline Delayed to July 15
After already extending the due date for tax payments earlier this week to account for the COVID-19 emergency, Treasury Secretary Steven Mnuchin announced in a Tweet on Friday that the deadline for filing tax returns is also being delayed from April 15 to July 15. “At @realDonaldTrump’s direction, we are moving Tax Day from April […]