Recent tax law changes have created the need for thorough tax planning for dentists and doctors who own office buildings. This article will walk you through the maze of tax complexity to achieve the best tax outcomes for your valuable office real estate. Suppose that you’re about to build a new office at a cost […]

It is exceedingly difficult for taxpayers to prove to the IRS’s satisfaction that they meet the real estate professional threshold if they are otherwise employed in an unrelated occupation. The IRS typically uses this first factor to exclude taxpayers with non-real-property-related full-time occupations. An examiner assumes that 40- or 50-hour-a-week wage earners would have to […]

Today saving for college is more critical than ever before. Tuition and fees are already at all-time highs and the cost is only looking to increase in coming years. The 529 college savings plan is one of the most effective methods for parents interested in investing for their children to go to college. 529 college […]

On June 29, President Obama signed the Trade Preferences and Extension Act of 2015, which significantly increases penalties for the failure to file correct information returns under I.R.C. § 6721 and the failure to furnish statements to payees pursuant to I.R.C. § 6722. The new law increases the penalty from $100 to $250 for each […]

A corporate inversion, simply put, is a method corporations use to reduce their tax responsibilities. While this loophole may present a sound tax solution for the corporation in question, it has a direct impact on tax revenue collected by the United States government, as well as on competition between companies. A corporate inversion takes place […]

The AMT, also known as the alternative minimum tax, is one of the most hated taxes in the United States and for good reason. For those individuals above a certain threshold of taxable income, or corporations, trusts, and estates, the AMT creates a higher tax burden beyond that imposed on those that fall under the […]