News Archives - Page 41 of 55 - Foodman CPAs and Advisors

IRS Guidance on Business Meals is Transitional

November 2018

IRS Guidance on Business Meals is Transitional was published by JD Supra on 11/30/18. The Tax Cut and Jobs Act (TCJA) amended Section 274 of the Internal Revenue Code (IRC) created a confusion for Taxpayers by disallowing a deduction for expenses

JD Supra

Understanding Estate and Gift Taxes

November 2018

Understanding Estate and Gift Taxes was published by JD Supra on 11/21/18. Although only .2% of US Taxpayers actually pay Estate Taxes (Congress’s Joint Committee on Taxation), it is important to understand how Estate Tax works in conjunction with gifting. Taxpayers

JD Supra

Foreign Trusts and the IRS

November 2018

Foreign Trusts and the IRS was published by JD Supra on 11/21/18. A Foreign Trust can be a legitimate instrument for US Taxpayers that may have family members in foreign jurisdictions, have foreign business interests or are the beneficiaries of trusts

JD Supra

The US and Costa Rica have a New Tax Information Sharing Agreement!

November 2018

The US and Costa Rica have a New Tax Information Sharing Agreement! was published by JD Supra on 11/14/18. On April 20, 2018, the Governments of Costa Rica and the U.S.A. signed a new version of their AGREEMENT BETWEEN THE GOVERNMENT

JD Supra

Banquero Irá a la Cárcel por FATCA

November 2018

Banquero Irá a la Cárcel por FATCA published by JD Supra on 11/2/18. El 11 de Noviembre del 2018, el Departamento de Justicia de los EE. UU. (“DOJ”) informó que el banquero Adrian Baron, el ex Director de Negocios y ex

JD Supra

Banker will go to jail over FATCA

November 2018

Banker will go to jail over FATCA was published by JD Supra on 11/2/18. On September 11, 2018, the US Department of Justice (DOJ) reported that banker Adrian Baron, the former Chief Business Officer and former Chief Executive Officer of Loyal

JD Supra

What is your Work Status? Employee or Independent Contractor?

October 2018

What is your Work Status? Employee or Independent Contractor? was published by JD Supra on 10/25/18. Worker classification or work status has an effect on how a Taxpayer will pay federal income taxes, social security and Medicare taxes, and how a

JD Supra

Condominium Owner? How to spot problems with your HOA

October 2018

Condominium Owner? How to spot problems with your HOA was published by JD Supra on 10/25/18. Statistics show that most Condo owners do not attend Board of Directors (BOD) meetings and avoid involvement with HOA issues. As a result, Condo owners

JD Supra

Tax Fraud and the Element of Willfulness

October 2018

Tax Fraud and the Element of Willfulness was published by JD Supra on 10/23/18. Tax fraud is often defined as an intentional wrongdoing on the part of a Taxpayer with the specific purpose of evading a tax known or believed

JD Supra

Don’t forget about your Right to Retain Representation

October 2018

Don’t forget about your Right to Retain Representation was published by JD Supra on 10/23/18. Taxpayers have a Taxpayers Bill of Rights: ten fundamental rights available to them when dealing with the IRS. They are: The Right to Be

JD Supra

CPAs: To Host or Not to Host

October 2018

CPAs: To Host or Not to Host was published by JD Supra on 10/18/18. A CPA providing “Hosting Services” to “attest” clients could potentially threaten a CPA’s independence. Hosting Services have evolved over a number of years based on the development

JD Supra

Understating Form W-7 and the ITIN

October 2018

Understating Form W-7 and the ITIN was published by JD Supra on 10/18/18. An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the IRS to foreign nationals and others who have federal tax reporting or filing