Key Federal Income Tax Issues Associated With Rentals of Residences and Vacation HomesNovember 9, 2017
This article highlights and explains the key, but somewhat complex, federal income tax rules associated with rentals of residences and vacation homes. The rules discussed include the definition of what constitutes a residence or dwelling, how personal use of the residence by the taxpayer affects the tax treatment, what expenses are deductible against rental income, …
1031 Exchange: What You Need to KnowMay 24, 2017
An April 2017 article in Financial Planning suggests that 1031 exchanges are becoming increasingly popular, thanks to a rise in property prices. As more property owners seek to take advantage of like-kind exchanges under IRS Code Section 1031, here’s what you need to know: Benefits of a 1031 Exchange A 1031 like-kind exchange allows …
Is Your Personal Information Secure?April 5, 2017
The Internet is amazingly convenient, but with its many benefits comes a level of risk. Cyber attacks pose a constant threat to businesses and individuals alike, with “phishing” being one of the most common types of cyber crime. What is Phishing? Phishing gets its name from the hook-and-reel kind of fishing you do on a …
State of New Jersey Tax Legislative Update For 2017March 8, 2017
By: Edward P. Rigby, CPA, The Curchin Group, LLC Article Credit: Shore Builders Association of Central NJ, Inc. On October 14, 2016, New Jersey Governor Chris Christie signed into law P.L. 2016, Chapter 57 which included a number of New Jersey tax law changes. In addition to raising the state’s petroleum products gross receipts …
Will Small Business Owners See Relief in Tax Reform?March 8, 2017
By: Peter Pfister, CPA While President Trump and Treasury Secretary Steven Mnuchin continue to push for sweeping tax reform, small business owners anxiously await the relief that could be on the way. Either Trump’s plan or the House Ways and Means Committee’s “Blueprint” would offer significant benefits to America’s 28 million small businesses. Trump recently …
IRS Disaster Resource Guide for Individuals and BusinessesSeptember 8, 2014
Download this resource PDF.