blog
January 22, 2018
Eight Factors Indicating a Buy/Sell Agreement Needed

1. Liquidity: The owners want to ensure a ready market for their ownership interests (in the event of death, disability, retirement, etc.). A mandatory buyout provision provides liquidity to the family of a deceased or disabled owner....

January 22, 2018
Three Flavors of Form 1095 – A, B, C

There are three different flavors of Form 1095 and most people don’t know much about them, so what’s the scoop with the 1095-A, B, and C?...

January 22, 2018
Can Hiring Your Kids Save on Taxes?

School is out and you are wondering how to keep your kids occupied for the summer – why not think about hiring them to work in your business?  This is an option for many business owners as long as the federal and state laws are followed.  You need to treat your child as ...

January 22, 2018
How do the tax reform proposals affect my business?

Here is a recap of the proposals in both the House and the Senate, that could affect your business in 2018 and beyond....

January 22, 2018
2018 Tax Bill Update

Republican House and Senate negotiators released a final tax bill on Friday bridging differences between the House and Senate bills and appeared to lock down the votes needed to passage....

January 19, 2018
What is UNICAP?

UNICAP is short for Uniform Capitalization.  That probably doesn’t even help explain it.  The IRS Code Section 263A is all about the Uniform Capitalization rules.  In general UNICAP is the amount of costs that a company needs to capitalize related to their inventory....

January 19, 2018
Built-In Gains Tax is a BIG Bad Wolf

Built-in Gains tax is a BIG bad wolf.  Every business owner should strive to avoid the built-in gains (BIG) tax like you would avoid the BIG bad wolf.  It’s not always possible to avoid it, but by planning ahead you can definitely minimize it.  So what is the BIG tax an...

January 17, 2018
US Expats in Canada

The largest subset of US expats are living in Canada. Our neighbor to the north is the place where we have the most clients residing outside of the US and there are some common issues that...

January 17, 2018
Tax Breaks for Expats

If you are a US expat, the requirement to file a US tax return can be painful but the tax liability doesn’t need to be. There are three main ways that expats can reduce their US tax liabilit...

January 17, 2018
What are the FBAR requirements?

What is the FBAR (also known as FinCen Form 114), and why is it so important? An FBAR is a report filed with the Financial Crimes Enforcement Network which is part of the Department of Treas...

January 17, 2018
What is a US Expat?

What is a US expat? An expat is a US citizen who is living in a foreign country. For some people it’s a US citizen that has been transferred to another country for work purposes on...

January 16, 2018
New Tax Bill: Mortgage Interest

For every single individual taxpayer who has a mortgage on their principal residence, your mortgage rate just went up with the new tax bill and I can prove it. ...