by PTF | Feb 8, 2021 | Articles, Individuals, Resource, Tax Preparation
Article Highlights: Estate Tax Estate Tax Exemption Fair Market Value at Date of Death Step up in Basis Community Property Deferred Untaxed Income Are inheritances taxable? This is a frequently misunderstood taxation issue, and the answer can be complicated. When...
by PTF | Feb 1, 2021 | Articles, Individuals
Article Highlights: Airbnb, VRBO, and HomeAway Rented for Fewer than 15 Days During the Year The 7-day and 30-day Rules Exceptions to the 30-Day Rule Schedule C Reporting Many taxpayers rent out their first or second homes without considering tax consequences. Some of...
by PTF | Jan 25, 2021 | Articles, Resource, Tax Representation
There are few things that can send a chill down your spine more than mail from the IRS. Just seeing the agency’s name on an envelope’s return address creates anxiety. If you find yourself in that position and open the mail to find a CP2000 notice inside, you don’t...
by PTF | Jan 18, 2021 | Articles, Business Services, Planning Services, Resource
If you are a small business owner, every penny of your income counts. This means that you not only want to optimize your revenue, but also minimize your expenses and your tax liability. Unfortunately, far too many entrepreneurs are not well-versed on the tricks and...
by PTF | Jan 11, 2021 | Articles, Individuals, Planning Services
Article Highlights: Predicting Social Security Income Planning for the Future Employer Retirement Plans Tax Incentive Retirement Savings Plans Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and...
by PTF | Jan 8, 2021 | Articles, Business Services, Planning Services, Resource
Article Highlights: Business Entity Selection Start-Up Cost Elections Organizational Expenses Equipment Depreciation & Expensing Opportunities Vehicle Luxury Auto Rules Leasehold Improvement Expense Options In spite of COVID-19 restrictions many entrepreneurs are...
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