by CJ Skelton | Jun 29, 2023 | newsroom, RSS Feed
Because people are living longer now than ever before, many individuals are serving as care providers for elderly loved ones (such as parents or spouses) who cannot live independently. Such individuals often have questions regarding the tax ramifications associated...
by CJ Skelton | Mar 3, 2022 | newsroom, RSS Feed
As printed by Journal of Accountancy A taxpayer’s physical possession of gold coins purchased with her individual retirement account (IRA) caused her to have taxable distributions from the IRA, the Tax Court held. Facts: In 2015, Donna McNulty purchased IRA...
by CJ Skelton | Mar 3, 2022 | newsroom, RSS Feed
As printed by Journal of Accountancy This article discusses some strategies that married taxpayers can use to manage their estate tax liability by creating certain types of trusts. During the past 10 years, the federal estate tax has not been a major concern for most...
by CJ Skelton | Mar 3, 2022 | newsroom, RSS Feed
The 2020 tax year was wild. Pandemic relief bills brought a slew of changes, and filing for the 2021 tax year doesn’t look like it’s going to be much easier. Some temporary tax provisions for the 2020 tax year were extended through 2021, while others were not. Then...
by CJ Skelton | Apr 1, 2020 | faq, newsroom, Uncategorized
The Coronavirus Aid, Relief and Economic Security (CARES) Act passed this past Friday, March 27, 2020. We believe there are a number of benefits for individuals and small businesses. In our opinion, the most significant benefit to most small businesses including the...
by CJ Skelton | Mar 31, 2020 | faq, newsroom, Uncategorized
The IRS has announced that distribution of economic impact payments would begin in the next three weeks. However, some seniors and others who typically do not file returns would be required to submit a simple tax return to receive the stimulus payment. Further, the...
by CJ Skelton | Mar 28, 2020 | faq, newsroom, RSS Feed
March 27, 2020 Download this article. As COVID-19 continues to upend nearly every aspect of life in the United States, Congress has been working to relieve suffering Americans. Having passed the Families First Coronavirus Response Act on March 18 in an effort to...
by CJ Skelton | Mar 25, 2020 | faq, newsroom, RSS Feed, Uncategorized
You can download this article here. As coronavirus (COVID-19) continues to spread, rattling financial markets, forcing the closures of businesses and schools, and canceling major public events across the country, the Trump Administration and Congress began taking...
by CJ Skelton | Mar 20, 2020 | faq, newsroom, RSS Feed, Uncategorized
Treasury Secretary Steve Mnuchin announced today that the federal income tax filing date has been extended from April 15 to July 15 for people who owe $1 million or less and corporations that owe $10 million or less. This allows taxpayers and businesses additional...
by CJ Skelton | Mar 19, 2020 | newsroom, RSS Feed, Uncategorized
This article can be downloaded as a PDF here. As coronavirus (COVID-19) continues to spread, rattling financial markets, forcing the closures of businesses and schools, and canceling major public events across the country, the Trump Administration and Congress began...
