The federal government devotes extensive time and resources to ensure that American taxpayers with foreign holdings pay appropriate taxes on these accounts. The Foreign Account Tax Compliance Act (FATCA) is one of the primary laws in this field. FATCA imposes many...
Serving Individual And Corporate Tax Clients Nationwide From Our New York, New Jersey, Florida And California Offices
Since 1983, our tax firm has skillfully represented individuals and corporations across the United States and around the globe from our offices in New York, New Jersey, California and Florida.
Firm News
The IRS is Getting Tougher (But Also Nicer!) in 2017
The IRS is constantly updating and refining its tax collection processes. In recent months, the IRS has formally announced many changes to its tax collection procedures. For taxpayers with delinquent taxes, some of these changes may create additional challenges. Some...
The Alternative Minimum Tax: Its Purpose and Potential Drawbacks
With the recent release of President Trump's 2005 tax return, many millions of Americans were introduced to the Alternative Minimum Tax (AMT). In fact, of the $38.4 million Trump paid in taxes in 2005, $31 million came from the AMT. With the AMT in the news, this is a...
Thousands of Charities May Not Be Meeting IRS Requirements
Every year tens of thousands of charities and non-profit organizations apply to the IRS for tax-exempt status. Charities with less than $250,000 in total assets and less than $50,000 in donations in each of the past three years are eligible to file the "streamlined...
What Are the Tax Implications When Spouses Are in Business Together?
Spouses can be more than life partners. Spouses can also be business partners, or have an employer-employee relationship. Spouses involved in business together must be mindful of the various tax considerations. Spouses who are in business together and have not...
Are YOU A Money Launderer? You might be! Check back at 11 to see how! (P.S. You probably are)
Dark Wings Dark Words. If you are in the financial industry you might have GOT a Raven recently from your banking overlords, or more likely an envelope. Whatever, those of you who watch Game of Thrones will understand that reference, but I digress. Banking...
NEVER…PAY TAXES…AGAIN!
Hello Loyal readers! Psych! You have to pay taxes. Death and taxes people, death and taxes. But Uncle Ben has a little something to make that stinging realization a bit better. As I keep saying over and over and over again, the Tax Code is a thrilling read. Explosive,...
Celebrity Tax Lives Episode 6- Return of the Taxman
Last time on Celebrity Tax Lives.... We discussed a "Mean Girls Tax System" and "Leeches, Parasites and Gift Horses" and the connection to us real people as well. And now the explosive FINALE where everything changes...and nothing will ever be the same...but actually...
Celebrity Tax Lives Episode 5-The IRS Strikes Back
Last time on Celebrity Tax Lives... We Discussed "Big Bad Advisors", "Every day is awesome", and "Records are for losers." And now the conclusion... 7. A Mean Girls Tax System Celebrities get their money in weird ways and from weird places. Self-employed individuals...
Celebrity Tax Lives of the Rich and Famous -Episode 4-No Hope
Hello loyal readers! The glitz! The glamour! The Bling! Celebrity scandals are always a hot topic, be it romance, divorce and even tax evasion. Recently Mr. Robert De Niro had a tax issue and the gossip columns went nuts. De Niro was able to smooth things over as an...