By Jonathan E. Gopman, Esq. and Paul J. D'Alessandro, Jr., Esq. On December 22, 2017, President Trump signed into law what is commonly referred to as the Tax Cuts and Jobs Act (the "Act").1 The Act represents the most comprehensive reform to U.S. tax law since 1986. In particular, the Act changed many long-standing U.S. international tax … Continue reading The More Things Change, the More They Stay the Same? Foreign Investment in U.S. Real Estate after the Tax Cuts and Jobs Act
By Kimberly E. Civins & Melissa Sprinkle Introduction Historically, trustees and executors served without any compensation.1 In recognition of the fact that technological advancements have increased the complexity of dealing with assets in a trust or estate, modern legislation allows fiduciaries to collect commissions for their service. The character of fiduciary compensation varies from state … Continue reading Fiduciary Compensation in Georgia
How clients can use their businesses as engines for generosity By Michael King Key Takeaways Giving an interest in a business may enable owners to double their current cash giving, while dramatically reducing their tax liability. Most business owners are not aware they can give a portion of their business to charity. Giving an interest … Continue reading Michael King: The Generous Business
By Linda Kotis I. SMLLC Scenario and Potential Consequences Archie and Edith were married for 50 years. After Archie’s death, Edith sold their home in Queens, New York for a tidy profit. Archie also named his wife as the beneficiary of a large insurance policy he bought when he first started working at the loading … Continue reading Linda Kotis: Your Heirs May Find Your Single Member LLC Taxing
By Stanley I. Foodman, CEO, of Foodman CPAs & Advisors, Miami Florida IRS Form 8938 (a FATCA created form) is the Statement of Specified Foreign Financial Assets in which Taxpayers are required to report their specified foreign financial assets when their value meets the obligatory reporting threshold. It has been a required form for … Continue reading Stanley I. Foodman: Will Optional GIIN Reporting on Form 8938 continue to be Optional? Or is it the beginning of a new IRS Cross-Reference?
Last week on the Washington Post Express FB Live segment of Baggage Check, I got to cover major issues that come up for couples with respect to money. But hopefully it is clear that money is just the topic, and the real issue is usually something much deeper like a need for safety and security, … Continue reading What Makes Or Breaks A Relationship? By Regina A. DeMeo
Financial infidelity is not a legal ground for divorce anywhere that I am aware of, but just because it may not be illegal does not make it right. Just because you can do something does not mean you should do it. Let me give you some examples of what financial infidelity looks like: Scenario 1 … Continue reading What is Financial Infidelity?