Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax Choosing a state that has no personal income tax may appear to be the best option. But that might [...]
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the [...]
If you want to preserve as much wealth as possible for your children, but you leave property to your spouse outright, there’s no guarantee your objective will be met. This may be a concern if your spouse has poor money management skills or if you two don’t see eye [...]
You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks and other financial records (or your computer desktop is filled [...]
While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you don’t miss any important 2018 deadlines, here’s a look [...]
IRAs and employer-sponsored plans such as 401(k)s are powerful retirement savings tools, but they also provide valuable estate planning benefits. If you hold a traditional IRA for life, for example, your children or other heirs can stretch out distributions over their lifetimes, maximizing the IRA’s tax-deferred growth and preserving [...]
Since 2012, payment settlement entities (PSEs) and third party settlement organizations (TPSOs) such as PayPal, Amazon, and eBay have been required to issue 1099Ks to all owners of accounts that reach the following thresholds: $20,000 USD in gross payment volume from sales of goods or services in a single calendar [...]
-'Taxation and Policing of the Virtual Currency World' – March 18, 2018 David R. Natan While the virtual currency craze and price volatility roller coaster may have caught many by surprise over the last six months, the IRS has been planting seeds since 2014 in an attempt to police [...]
Get Us Your Complete Tax Materials Now....Before It's Too Late! The tax filing deadline for Individuals, C Corporations, and most Trusts is quickly approaching. Please note that Newburg & Company, LLP is working expediently on the returns for those Clients who have already provided the materials to complete the [...]
When a taxpayer purchases a vehicle for business use there are a number of important considerations to maximize deductions and tax benefit. First and foremost, the IRS allows two different methods for calculating the deduction for using vehicles within your business: The Actual Expense Method The Standard Mileage Method [...]
