Tax Cuts and Jobs Act and the Future of the Shared Responsibility Penalty

future of shared responsibility paymentThe Tax Cuts and Jobs Act passed in 2017 will have significant ramifications on all manners of tax filings going forward. However, one of the more substantial changes to tax laws relates to the 2009 Affordable Care Act. Of most importance to what changes happen under the Affordable Care Act is when the changes […]

What to Do If You Have Undisclosed Offshore Bank Accounts

undisclosed offshore bank accountsTaxpayers with foreign bank accounts are required to disclose these accounts under the Foreign Account Tax Compliance Act (FATCA) and on the Report of Foreign Bank and Financial Accounts (FBAR). Do you have an overseas bank account you haven’t disclosed it to the IRS? If so, you are […]

5 Surprising Tax Law Changes in the Tax Cuts and Jobs Act

tax cuts and jobs actThe Tax Cuts and Jobs Act (TCJA) has made sweeping changes to the United States tax laws. You have probably heard about some of the major changes that take effect beginning in 2018—a big cut to the corporate tax rate, lower marginal rates across the board, and a larger standard deduction. But […]

March 23rd, 2018|Tax Tips|0 Comments

Why Trump’s Tax Plan May Not Ultimately Reduce Charitable Giving

trump tax plan and charitable givingThere’s a lot of speculation about what’s going to happen with Trump’s tax plan or the “Tax Cuts and Jobs Act.” Many people are panicking or rejoicing without looking at the details, and others are narrowing in on a single aspect of the plan while ignoring […]

January 4th, 2018|Tax Opinion|0 Comments

Quick, 10 Ways to Reduce Your 2017 Federal Tax Liability

10 Ways to Reduce Your 2017 Federal Tax Liability  The last day of the year is just around the corner, and if you’re someone who usually faces a tax bill in April, this is your last chance to lower your tax liability for 2017. Even […]

December 15th, 2017|Tax Tips|0 Comments