Posted on February 28, 2019
by
Sandi Perez
Married couples considering a divorce in 2019 should first meet with their tax advisors and accountants to ensure their settlement negotiations reflect the way in which the new federal tax law treats alimony payments beginning this year. For more than 75 years, alimony was treated as a tax deduction for the payor and taxable income […]
Posted on February 21, 2019
by
Joanie Stein
Many U.S. residents and resident aliens accustomed to itemizing the expenses they were once eligible to deduct annually on Schedule A of their federal income tax returns may find it more beneficial to claim the standard deduction on the 2018 tax returns they will file in 2019. Under the new tax law, the standard deduction […]
Posted on February 18, 2019
The new tax law in effect on Jan. 1, 2018, repeals the business deduction for lobbying local governments and their officials, including the Indian Tribal Governments. While businesses are prohibited from deducting lobbying expenses on the federal and state levels, they previously could qualify to deduct the “ordinary and necessary” expenses they incurred to promote […]
Posted on February 14, 2019
by
Arthur Dichter
The Tax Cuts and Jobs Act (TCJA) has had broad-reaching impact on all taxpayers for 2018 and going forward. This includes U.S. persons who are beneficiaries of foreign non-grantor trusts. As a result of the TCJA suspending the deduction for miscellaneous itemized deductions, which includes the deduction for investment management fees, trust distributable net income […]
Posted on February 12, 2019
by
Rick Bazzani
Both GM and Tesla have sold in excess of 200,000 plug-in electric vehicles and have surpassed the limit to be eligible for the full federal tax credit. If you are still considering the purchase of a Tesla or GM electric, plug-in vehicle, you may want to close the deal sooner than later to qualify for […]
