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As record-high inflation saps wealth and purchasing power, your high-net-worth clients may be interested in strategies to restructure their finances. Life Harbor Settlements founder and CEO Lucas Siegel discusses ways CPAs can help. Continue Reading
The federal opportunity zone program creates jobs and improves communities, and the tax benefits for investors remain substantial. Continue Reading
The quest to properly report revenue for federal income tax purposes continues as 2021 tax filings will provide yet another opportunity for taxpayers to assess and adjust their revenue recognition methods. Continue Reading
With tax rates expected to rise, opportunity zone investors are exploring ways to invest their cryptoasset gains in opportunity zone funds. Continue Reading
For nearly 70 years, businesses have enjoyed the option of fully deducting their research and experimental (R&E) expenses. Due to the 2017 Tax Cuts and Job Act, businesses may need to prepare for this to change. Continue Reading
While commentators have predicted that SECURE 2.0 will be enacted by the end of the year, the bill's future remains uncertain. Continue Reading
The new rules surrounding business meal and entertainment deductions in the Tax Cuts and Jobs Act (TCJA) left many practitioners looking for further guidance on accurate documentation of expenses. Learn about the history of the act, and how to navigate the new TCJA rules. Continue Reading
Capital gains rates may be increasing, leading to a spike in investor interest in opportunity zone funds. Continue Reading
This week's topics: Supreme Court finds no status for challenging ACA due to TCJA changes; IRS backlog was huge at May 1 which causes two pieces of guidance to be issued: Do not file Form 990-EZ on paper and offer in compromise program changes put in place due to backlog. Continue Reading