Upstreaming is a tried and true method of saving on taxes by skillfully moving income from one subsidiary to its parent. Things are rarely simple when it comes to taxes, but there are various scenarios where upstreaming can produce substantial tax savings. Of course, in a business situation, you will need to show there was […]
Save Tax Dollars through Upstreaming Read More »
If you have more than one home, renting one to a relative may appear at first glance to be a win/win. A son, daughter, cousin or old mother would take good care of the property, and you could help your relative by giving them a break on their rent. But you may not be aware
Five Tips to Avoiding the Tax Hazards of Renting to Relatives Read More »
To taxpayers facing large capital gains, very few strategies exist to defer or eliminate the tax altogether. That all changed with tax reform. The Tax Cuts and Jobs Act passed at the end of December 2017 created major changes in the tax structure, and not the least of these may be found in IRC Sections
How 1400z Opportunity Zone Investment Drastically Reduces Capital Gains Read More »
The federal government taxes large estates, but under the recent Tax Cuts and Jobs Act, (TCJA), P.L. 115-97, which went into effect January 1, 2018, the exemption for estate and gift taxes doubled – temporarily. The double exemption disappears after 2025 unless Congress extends it. There has been concern that when the exemption goes back