Tax Industry

The holidays are here. Not to be a Grinch but right around the corner is a less fondly anticipated time of year. Before you know it, you will be taking down the Christmas tree, pulling down the holiday lights and getting ready for the tax

Wills and Intestacy A will allows the testator (the person creating the will) to specify: Who receives property at the testator’s death. Whether beneficiaries receive gifts outright or in trust. Who will act as personal representative. Who will be the guardian of minor children. In

Charitable Organizations Qualified charitable organizations include nonprofit groups that are religious, charitable, educational, scientific, or literary in purpose, or that work to prevent cruelty to children or animals. Examples of Qualified and Nonqualified Organizations Qualified• Churches, mosques, temples, synagogues, and other religious organizations.• Boy and

Capital Assets Most property you own and use for personal or investment purposes is a capital asset. For example, a house, furniture, car, stocks, and bonds are capital assets. Noncapital Assets A capital asset is any property held by you except the following.• Stock in

Representation Individual taxpayers who are under audit by the IRS may attend the audit in person without any assistance from a tax professional. However, this can be a dangerous mistake. Although not officially stated, it is the job of an IRS Revenue Agent to conduct

   Advance Child Tax Credit Payments https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021 Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. You will