Tax strategies

In case you haven’t heard, National Grandparents Day is just around the corner, on September 7.

This year's tax planning is going to be heavily focused on accelerating deductions and maximizing tax credits, according to Evan Stephens, a tax manager at the business consulting and accounting firm Sensiba San Filippo.

Wolters Kluwer Financial Services has partnered with Broadridge Tax Services on combining their cost basis and tax reporting compliance systems.

Taking advantage of low AFRs before they're gone

Republicans are considering voting this year to repeal the U.S. estate tax, said House Ways and Means Chairman Dave Camp.

A pair of Democratic lawmakers have introduced a bill that would provide tax relief to student loan borrowers who have been granted debt relief after consistently repaying their student loan debt for at least 20 years, giving them an exemption from being taxed on the amount forgiven on the loans.

Rising education costs mean clients can’t pass these up

I remember the tax-cutting years in previous political eras. Those were the good old days. Now it’s easy to get the impression we have higher income taxes and an extra tax on investment earnings. But analyzing taxes and the reasons behind them are not that simple. Some brackets are actually lower today, and some taxpayers are paying at a higher rate while others are paying at a lower rate.

Thomson Reuters has released the 2014-2015 edition of its Tax Planning Guide, which accountants and tax professionals can distribute to their clients and prospects.

A federal appeals court has upheld a penalty assessed against the estate of a deceased man because the executor filed the return late, even though estimated taxes had been paid.

Health care reform tax issues for 2014

From SEP and SIMPLE IRAs to Solo 401(k)s

Sole proprietors and practitioners mainly generate their revenue during tax season from tax preparation clients, but there are other opportunities for them.

Bill and Hillary Clinton have long supported an estate tax to prevent the U.S. from being dominated by inherited wealth. That doesn’t mean they want to pay it.

You probably know more about Donald Sterling and his mistresses, his infamous recording, and the proposed forced sale of his team, the Los Angeles Clippers, than you want to know. Nevertheless, as tax professionals we should be aware of the tax opportunities and issues for the Sterlings as sellers, if only to make conversation at the next tax-themed gathering we attend.

When an individual receives a Schedule K-1 from a partnership reflecting a loss, there are several things to consider before deciding if the loss can be deducted. In order to determine deductibility, a partner's basis and at risk limitations need to be evaluated.

Tax rules continuously change, but the specific tax matter here is not what’s important. What is important is the process.

The Internal Revenue Service has released the spring 2014 edition of its quarterly Statistics of Income Bulletin, with statistics up through 2011 indicating there are still people who earn over $200,000 a year who pay no federal income taxes, although the number of them has been decreasing.

The economic benefits of the income exclusion for U.S. citizens working abroad are uncertain, according to a new government report.

Real estate investment trusts were originally created to permit tax-efficient public investment in real estate, but REITs have also found wide use as private vehicles.