What is an NOL Carryover, Anyway?
NOLs have been in the news lately, so it seemed like a good time for an overview. What is an NOL? What is a carryover? How do they work?
Newsletters & Articles
IRS to Use Private Tax Collectors – Taxpayers Can Opt Out of Contractor Collection
The IRS recently announced the upcoming use of private agencies for debt collections. Here’s what you, the taxpayer, need to know…
October 2016 Client Bulletin
Our October client bulletin focuses on some important financial steps to take after the birth of a child, the tax consequences of investing in gold, and the inner workings of a successful wellness program.
NY Sales Tax Exemption for Computer Hardware Purchased for Software & Web Design & Development
The New York Department of Taxation and Finance issued a reminder regarding a sales tax exemption available to software and web devs/designers on the purchase of computer hardware, provided that it is used more than 50% of the time for either designing/developing software for sale, providing web design/development consulting services, or some combination of both.
Bonus Depreciation in a Post-PATH Act World
The PATH Act added a new class of nonresidential real property, qualified improvement property, which is now eligible for bonus depreciation irrespective of its recovery period. That means that, unlike before, bonus depreciation can now be taken on certain real property improvements with recovery periods of 39 years.
September 2016 Client Bulletin
Our September 2016 client bulletin takes a closer look at the customization of target-date investment funds, drawing down your portfolio in retirement, and setting paid-time-off policies for small businesses.
Do I Have to Pay Taxes on the Sale of My House? It Depends…
…Depends on what? Among other things, on how long you’ve owned your home and whether it’s your principal residence. Generally, if you profit from the sale of property you have to pay capital gains tax on that profit. However, tax … Continued
IRS Gives Way on Per Taxpayer Mortgage Deduction
The IRS has announced its acquiescence with regards to the mortgage interest deduction. The Ninth Circuit Court of Appeals, reversing the Tax Court, found that when multiple unmarried taxpayers co-own a qualifying residence, the debt limit provisions apply per taxpayer and not per residence.
What are Marginal Tax Rates?
What are marginal tax rates and how do they affect my take-home pay?
August 2016 Client Bulletin
Our August bulletin goes in-depth into the true cost of higher education, making the most of college financial aid, tax credits vs. tax deductions when it comes to college costs, the benefits of paying down debt, and the (tax) dangers of using IRA money to buy a business.