Selling your home? Consider these tax implications

June 10, 2019

Spring and summer are the optimum seasons for selling a home. And interest rates are currently attractive, so buyers may be out in full force in your area. Freddie Mac reports that the average 30-year fixed mortgage rate was 4.14% during the week of May…

The chances of IRS audit are down but you should still be prepared

June 3, 2019

The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage of tax returns are being chosen for audit these days, that will be little consolation…

Plug in tax savings for electric vehicles

May 20, 2019

While the number of plug-in electric vehicles (EVs) is still small compared with other cars on the road, it’s growing — especially in certain parts of the country. If you’re interested in purchasing an electric or hybrid vehicle, you may be eligible for a federal…

Understanding how taxes factor into an M&A transaction

May 16, 2019

Merger and acquisition activity has been brisk in recent years. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets From a tax standpoint, a transaction can basically…

Recent Captive Tax Court Ruling – Syzygy Insurance vs. Commissioner

May 13, 2019

On April 10, the US Tax Court released its ruling in Syzygy Insurance v Commissioner of Internal Revenue. This is the third case related to micro-captive insurance companies and whether it qualified as a small insurance company. Similar to Avrahami v. Commissioner and Reserve Mechanical…

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