Gifts: Who Pays Tax and When?
Receiving a gift is not a taxable event to the one who receives the gift. If the gift is large enough, it could result in gift tax being due by the donor. In any case,…
Read More...Alloy Silverstein’s articles and insights are updated weekly. Stay tuned for the latest tips and news on managing your business, the latest tax law, preventing fraud, preparing your taxes, and more.
Receiving a gift is not a taxable event to the one who receives the gift. If the gift is large enough, it could result in gift tax being due by the donor. In any case,…
Read More...If you are anticipating a nice refund this year, it may be a good idea to prepare yourself for a possible letdown. Many taxpayers will receive a smaller-than-expected refund and might even owe taxes to…
Read More...Is alimony still deductible by payers and taxable to recipients? It depends. There is some confusion around recent tax law changes, but the prior rules generally remain in effect for divorce and separation agreements entered…
Read More...Want your tax return filed quickly and without error? Then double-check this list of items that are often overlooked. These missing items often cause delays in getting your tax return filed: Forms W-2 and 1099….
Read More...The Internal Revenue Service expects individual taxpayers to file more than 150 million returns this year. If prior-year statistics hold steady, over 70 percent of filers will get a refund. That’s the good news. But…
Read More...Franchise opportunities abound. A solid franchise company can offer a proven business model, staff training, advertising expertise and many other benefits for jumpstarting a business. But whether you’re selling fast food or repairing cars, it…
Read More...Let’s Talk Tax Reform For years, tax filers have valued a long list of itemized deductions which reduced their taxable income. Much of that is history now that the Tax Cuts and Jobs Act is…
Read More...This is the first tax year under the Tax Cuts and Jobs Act. So what can you expect? Here are answers to some frequently asked questions. Let’s Talk Tax Reform 1. Do I still…
Read More...