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Many wage earners were stymied last April when they completed their tax filings. Despite the much-touted anticipated tax savings, which should have resulted in a sizable refund, many taxpayers discovered they actually owed taxes.  The reason for this was a shortfall...

Partnerships and entities taxed as partnerships, such as some LLCs, often pay partners specific amounts outside of the partnership’s usual income allocation.  This is usually in the form of health insurance, retirement contributions, or additional income for specific...

The Importance of Financial Planning For Families Affected by Disability Intellectual and physical disabilities affect approximately 10% of the population. A parent’s journey with their disabled child is akin to a never-ending winter storm: spectacularly beautiful and...

The Treasury recently finalized regulations on the 20% 199A passthrough deduction.  While some questions remain unanswered, the new regulations address several areas omitted from the proposed regulations released this past August, alter rules on others, and clarify...

On December 28th, 2018 the governor signed HR 4327 into law, subjecting short term rentals to the same 5.7% state occupancy tax as hotels, bed and breakfasts, and motels.  Municipalities can also subject these rentals to a local occupancy tax (up to an additional 6%)....

Much like Wilbur the pig from “Charlotte’s Web”, Qualified Opportunity Zone Tax Incentives have been generating a lot of attention.  Given their ability to defer gain recognition up to 10 years, and exempt subsequent gains entirely, they should be attracting...

With 2018 ending, employees with significant unreimbursed expenses are almost out of time to renegotiate their expense reimbursement terms.  The Tax Cuts and Jobs Act removed the ability to deduct all miscellaneous expenses subject to a 2% limitation, including...

Last year’s Tax Cuts and Jobs Act removed the itemized deduction for home equity interest for 2018 onward.  At first blush this would appear a straightforward prohibition of the deduction for interest on any loan not used for the original purchase of a home.  As with...

In days before the world was fully explored, map makers often placed the words “here be dragons” in uncharted waters as a warning to sailors.  On June 21, 2018, the Supreme Court handed down its ruling on South Dakota v Wayfair, requiring “out-of-state sellers to...