Tuesday, October 25, 2011

Foreign Mutual Funds

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Let’s talk about PFICs. It is pronounced “Pea Fick,” and it is shorthand for a passive foreign investment company. We are continuing our “fo...
Thursday, October 20, 2011

Do You Have To Report Foreign Gifts?

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My brother-in-law is married to an English citizen. My other brother-in-law lives near Saffron Walden, north of London. Perhaps it is becaus...
Monday, October 17, 2011

Chapter 7 Bankruptcy and Taxes

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It was one of the last individual tax returns I saw this year going into October 15, so the topic is on my mind. The topic is bankruptcy. It...
Friday, October 7, 2011

Thinking on This Week's Senate Surtax

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The Senate Democrats have offered yet another tax to pay for yet another $447 billion stimulus package. They now want to impose a 5.6% surta...
Wednesday, October 5, 2011

Small Business Health Care Tax Credit Redux

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We’ve been looking again at the small business health care tax credit. Truthfully, I have been less than impressed with this credit, at leas...
Monday, September 26, 2011

Employee or Contractor? There Is a New IRS Program

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One of my individual tax clients came in around ten days ago. He brought his 2010 tax information, including a cleaning business reported as...
Thursday, September 22, 2011

President’s “Plan For Economic Growth and Deficit Reduction”

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I was reviewing the tax provisions of the President’s “Plan for Economic Growth and Deficit Reduction.” It is possible that the “Super Comm...