Archive for Author: mksh

A Strategic Plan for Your Charitable Giving

There is nothing more fulfilling than to help others by giving. If you are like most people who donate, it is important that you are not only charitable but also wise. The Internal Revenue Service (IRS) gives anyone a tax break for providing donations to qualified charities. And so,...

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How to Declare Foreign Accounts on Your Taxes

When it comes to taxes, everything should be accounted for–from income to investments. If you own foreign financial assets, it is important that you declare your accounts on your taxes. Under the tax code, financial assets include any financial account that you have maintained by a foreign financial institution....

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Cost Segregation Studies

Is your trade or business involved in constructing, renovating, or acquiring commercial real estate? Practically, any commercial owner will benefit from a Cost Segregation Analysis. These studies involve differentiating among various real estate and/or construction costs by allocating them to other asset categories and assigning a useful life that...

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Why You Shouldn’t do your own Business Taxes

In this world where many people love doing DIY, there are certain jobs wherein the DIY approach is not advisable and one of them is to do your business tax. Filing for your business tax should be left alone to the experts due to the complexity of the federal...

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How Tax Efficient is your Employee Expense Reimbursement Arrangement?

Employers frequently provide expense allowance accounts for their employees to incur business expenses on behalf of the company.  An allowance arrangement does not require the employee to submit receipts in order for reimbursement.  These are considered ‘unaccountable’ expense reimbursement plans and if they are used after 1/1/18, amounts paid...

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Why It’s Never Too Early to Prepare Your Estate Plan

Estate planning is very important in securing your family’s financial stability especially when you are gone. Unfortunately, so many people do not plan their estate, and this takes a toll on their surviving heirs on how they are to divide and distribute personal properties, investments, and benefits. With estate...

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