Latest Articles

  • Executive Compensation Limits under NYS Executive Order #38

    By:
    James E. Rocco Associates, Inc.
    |
    Jan 1, 2014
    In January 2012, New York Governor Andrew Cuomo issued Executive Order #38 (“EO38”), the latest in a series of regulatory actions to curb the use of public funds for excessive administrative expenses or executive compensation in exempt organizations. The rules are strict--and complex.
  • Planning for the ACA Net Investment Income Tax

    By:
    Chad L. Reyes and Cliff C. Keeling
    |
    Jan 1, 2014
    Somewhat overlooked in the Supreme Court’s decision upholding the Patient Protection & Affordable Care Act—“Obamacare”—is the fact that individuals, trusts and estates will be subject to a new 3.8 percent healthcare surtax on “passive investment income” effective as of Jan. 1, 2013.
  • Tanenblatt v. Commissioner: Valuation Methods in Real Estate

    By:
    Martin Greene, CPA/ABV, ASA
    |
    Jan 1, 2014
    Tanenblatt v. Commissioner involved the fair market value of a 16.67 percent minority membership interest in a New York LLC whose principal holding was a commercial building. The resulting decision has important implications for the valuation—and taxation—of real estate and the use of experts.
  • Tax Implications of Foreign Pension Plan Participation

    By:
    By James Cassidy, CPA
    |
    Mar 1, 2012
    As a result of IRS offshore compliance initiatives, recently enacted legislation, and new informational reporting requirements, tax preparers and U.S. participants in foreign pension plans must carefully evaluate how a foreign-based retirement plan is structured and valued. Because many U.S. citizens who have repatriated or are currently residing and working abroad, as well as foreign nationals currently residing in the United States, either have retirement assets abroad or are currently participating in a foreign plan, practitioners and taxpayers should evaluate the reporting requirements, follow guidance for preparing accurate tax and information returns and strive to minimize both taxes and onerous penalties.

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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