July 29, 2013
Andrew Presti- Author's Bio
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Key Provisions Under the Affordable Care Act for Employers with Up to 50 Employees
Implementation of the Affordable Care Act occurs in stages, with many of the reforms and requirements taking effect in 2013 and 2014. While many of the requirements, mandates and media coverage of the Act are directed towards employers with over 50 employees, there are also many significant provisions for smaller employers with up to 50 […]
Read more- July 15, 2013
- Andrew Presti
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How Do I? Get a tax break on my vacation home
Vacation homes offer owners tax breaks similar-but not identical-to those for primary residences. Vacation homes also offer owners the opportunity to earn tax-advantaged and even tax-free income. This combination of current income and tax breaks, combined with the potential for long-term appreciation, can make a second home an attractive investment. Homeowners can deduct mortgage interest […]
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- July 13, 2013
- Steve Grgas
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FAQ: What can I deduct doing volunteer work for a charity?
For many individuals, volunteering for a charitable organization is a very emotionally rewarding experience. In some cases, your volunteer activities may also qualify for certain federal tax breaks. Although individuals cannot deduct the value of their labor on behalf of a charitable organization, they may be eligible for other tax-related benefits. Before claiming any charity-related […]
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- July 11, 2013
- Wayne Naegele
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IRS ruling highlights benefits of like-kind exchange, deferred tax arrangements
Gain or loss is not recognized when property held for productive use in a trade or business or for investment is exchanged for like-kind property. Instead, the taxpayer’s basis and holding period in the property transferred carries over to the property acquired in the exchange. Deferring taxable gain, always a good strategy, makes more sense […]
Read more- July 08, 2013
- Andrew Presti
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Many tax planning questions arise after Supreme Court’s DOMA decision
On June 26, the U.S. Supreme Court held that Section 3 of the federal Defense of Marriage Act (DOMA) is unconstitutional (E.S. Windsor, SCt., June 26, 2013). Immediately after the decision, President Obama directed all federal agencies, including the IRS, to revise their regulations to reflect the Court’s order. How the IRS will revise its tax regulations […]
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