How to Value the Personal Use of Employer Provided Vehicles

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It often occurs in business that employees are allowed to use the employer’s vehicles in order to fulfill their job responsibilities.  However, what happens if 100% of the vehicle use is NOT for business purposes?  Is the employee required pay income tax on the...

What is a “Kiddie Tax”?

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What is a “Kiddie Tax”?  Is a question our accounting firm often hears. Many parents seek to save income taxes by transferring assets from their names and placing those assets under their children’s names.  Property can be transferred to minor children using custodial...

Divorce – Implications of Joint Return Tax Liabilities

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As is the case in life, sometimes a divorce is the course of action chosen by couples.  There are many tax issues that a couple should address in the divorce proceedings such as: Filing Status, Dependency Exemptions, Retirement Plan Distributions, Determining Tax...

Welcome to Our Blog!

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IRS Circular 230 notice: In order to comply with requirements imposed by the IRS, we must inform you that any U.S. federal tax advice contained in this blog is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the...