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State Tax Considerations When Selling a Partnership Interest

Can a Home Subject to a Mortgage Be Transferred to a Trust?
SCOTUS Exposes All Regulations to Court Scrutiny in Loper Bright

Latest Articles

  • Foreign Investment in the U.S.: A FIRPTA Introduction

    By:
    Alicea Castellanos, CPA, TEP
    |
    Jan 2, 2014
    They love us overseas. Yes, foreign investors want to buy U.S. real estate because of the weakening dollar, but there's more to it than that: The United States offers economic and legal transparency, backed by appropriate legal protections and a predictable regulatory environment. It’s no wonder that according to a 2013 survey from the Association of Foreign Investors in Real Estate (AFIRE), four of the five top global cities for investment are in the United States. But to take advantage of such desirable opportunities, investors, and the CPAs who serve them, need to familiarize themselves with the complex tax rules.

  • 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.
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Tax Jokes
  

If I needed to hire an accountant in Transylvania, who would you recommend? Count Dracula, of course.
 
https://parade.com/1317763/jessicasager/accounting-jokes/

Tax News

 

2025 Tax Filing Season Starts as IRS Begins Accepting Tax Returns Today; Taxpayers Have Many Options for Help, Internal Revenue Service

IRS, CASST Announce 2025 Filing Season Changes Aimed at Preventing Spread of Scams, Schemes; New Fuel Tax Credit Statement and Increased Review of “Other Withholding” Claims Among Highlights, Internal Revenue Service

Governor Hochul's Tax Plans Aim to Ease Costs for New Yorkers in 2025, The Trusted Professional


SALT Talks Gain Steam with Trump's blessing on Tax Break, Arizent


Will the New Partnership Related Party Basis-Shifting Rules Survive?, Thomson Reuters/Tax & Accounting


IRS Faces Hiring Freeze and Revoked Job Offers as Tax Season Begins, The Trusted Professional

Treasury, IRS Issue Proposed Regulations on New Automatic Enrollment Requirement for 401(K) and 403(B) Plans, Internal Revenue Service

Treasury Official on Int’l Tax ‘Simplification’ Efforts, Thomson Reuters/Tax & Accounting


Conference Speakers Discuss How to Navigate the Changing Landscape of Exempt Organizations Taxation, The Trusted Professional


IRS Targets Tax Loopholes in Partnership Transactions with New Rules, The Trusted Professional

Taxpayer Advocate Gives IRS a Mixed Review in 2024 Annual Report, The Trusted Professional

*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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Views expressed in articles published in Tax Stringer are the authors' only and are not to be attributed to the publication, its editors, the NYSSCPA or FAE, or their directors, officers, or employees, unless expressly so stated. Articles contain information believed by the authors to be accurate, but the publisher, editors and authors are not engaged in redering legal, accounting or other professional services. If specific professional advice or assistance is required, the services of a competent professional should be sought.