CERTIFIED PUBLIC ACCOUNTANT
The Affordable Care Act (“ACA”), enacted in 2010, expands health insurance coverage and benefits across America. This blog will cover tax highlights with regard to this new law. Who must get health insurance? Starting in 2014, ACA requires most U.S. citizens and legal residents to have health insurance. Employer-sponsored health... Continue reading →
The current economic downturn has created tremendous financial pressure for Americans. Many companies have identified an increase in occupational fraud since the economy weakened. It is no wonder morale is down in an environment of layoffs, salary reductions and cutbacks, combined with housing value declines and increased living costs. Personal... Continue reading →
The division of marital property for couples with significant accumulated assets will often be the most combative and time consuming part of reaching a divorce agreement. One spouse will be at a disadvantage if the other spouse is the only one who handled or had knowledge of all financial information... Continue reading →
The IRS classifies income producing activities as two different types. Nonpassive – Income or losses generated from trade or business activity in which a taxpayer materially participates. Examples include wages and self-employed income. Passive – Income or losses generated from activities in which a taxpayer does not materially participate. Examples... Continue reading →
Hurricanes, tornadoes, fires — Catastrophic disasters seem to occur more frequently every year. People don’t think about taxes when they are dealing with the havoc of property destruction or damage. The IRS offers relief for some taxpayers with casualty losses, but as usual, the rules are complicated. We’ll cover some... Continue reading →
