Latest Articles

  • Examining the Nuances of New York Income Taxation of Trusts

    By:
    Catherine B. Eberl, JD
    |
    Feb 1, 2016
    Just like a resident individual, a New York resident trust is subject to New York income tax on all of its income. 
  • Social Security Strategies

    By:
    Daniel Mazzola, CPA, CFA
    |
    Feb 1, 2016
    The Social Security Act, was signed into law in 1935, was designed to provide adequate financial assistance to the elderly, the poor, the unemployed, the widowed, and fatherless children.  
  • 3 Solutions to New York Tax Inequities

    By:
    William F. Berardi, CPA
    |
    Feb 1, 2016
    In 2012, Gov. Cuomo tasked the New York State Tax Reform and Fairness Commission to review the state’s complex tax code and recommend ways to simplify it. The commission’s final report, issued in 2013, highlighted several areas of tax inequality that remain on the state’s books. 
  • New York State Releases Its Throwback Tax Form (and It Is Unduly Complex)

    By:
    Kevin Matz, Esq., CPA, LLM
    |
    Feb 1, 2016
    The New York State Department of Taxation and Finance has posted on its website Form IT-205-J, New York State Accumulation Distribution for Exempt Resident Trusts (Schedule J).
  • IRS, States, and Tax Industry Implement New Safeguards

    By:
    Damon Asper
    |
    Jan 1, 2016
    Protecting taxpayers against fraud is a top priority for the IRS. But recent years have proved challenging, as criminals gather increasing amounts of personal data. The IRS, however, has made real progress in the past several years.
  • A Great Time To Give: Charitable Trust Planning in the Current Environment

    By:
    Carl Fiore, JD, LLM
    |
    Jan 1, 2016
    While charitable giving has always been an important part of tax planning, the current tax and economic environment has greatly incentivized many wealthy individuals to give more.  
  • New York Sales Tax Audits: Are Test Period Agreements Binding?

    By:
    Brian Gordon, CPA
    |
    Jan 1, 2016
    There are many different types of sales tax audits.  Audits of cash businesses, which are often closely-held or family-owned businesses that lack internal controls, are very common. 

  • Final Regulations on F Reorganizations

    By:
    Michael Schonig, CPA
    |
    Jan 1, 2016
    On Sept. 21, 2015, the Treasury Department and IRS released final regulations providing clarification on the qualification of transactions as “F Reorganizations” under IRC section 368(a)(1)(F). 
  • The Crowdfunding Craze: A Primer for Tax Professionals

    By:
    Sean Mathey, Esq.
    |
    Dec 1, 2015
    The popularity of Internet crowdfunding has exploded in recent years.  As individuals and businesses turn increasingly to this alternative form of financing, the regulatory response has been outpaced, leaving tax and legal advisors on uneven ground regarding client counsel.  
  • Retirement Plans: An Overlooked Benefit for Business Owners
    Higher Contributions and Greater Flexibility

    By:
    Kenneth A. Horowitz, CLU, ChFc
    |
    Dec 1, 2015
    Many CPAs ask if companies are still sponsoring defined benefit plans.  They are usually surprised by how the current pension rules are “business-owner friendly.”  

Tax Quote

“Tax day is the day that ordinary Americans send their money to Washington, D.C., and wealthy Americans send their money to the Cayman Islands.” 


- Jimmy Kimmel

Death, taxes and childbirth! There's never any convenient time for any of them.
*Outside the Box is a new addition to the TaxStringer featuring important articles on financial and investment management topics by top authors who have expertise both inside and outside the realm of taxation.

 

 

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