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The program seeks to utilize a portion of the trillions of dollars of unrealized capital gains (in the stock market and mutual funds alone) for development in these designated areas. In this seminar, we discuss the latest guidance on the provision. Read More
The newly released draft 2019 partnership tax return instructions and Schedule K-1 reflect changes resulting from the Tax Cuts and Jobs Act (TCJA), as well as from other IRS initiatives. This article will highlight some of those changes, with a focus on new IRS reporting requirements related to their effort to track partners’ tax basis capital. Read More
- Fringe Benefits That May Affect Your Payroll Reporting and Tax Withholding11/11/2019
To Our Business Clients:Attached for your convenience is a summary of the tax treatment of certain fringe benefits for payroll tax and income tax reporting purposes, plus detailed information regarding company automobiles and health and accident insurance premiums for S corporations.
- Tax Considerations for the Sandwich Generation 10/31/2019
With a little planning, members of this generation may be able to find tax savings. While it is always best to discuss these matters with financial and tax professionals, here are a few ideas to consider.
- Philanthropy: Leave a legacy with a charitable remainder trust10/31/2019
Let’s say you’re charitably inclined but have concerns about maintaining a sufficient amount of income to meet your current needs. The good news is that there’s a trust for that: a charitable remainder trust (CRT). This type of trust allows you to support your favorite charity while potentially boosting cash flow, shrinking the size of your taxable estate, and reducing or deferring income taxes.
- Adding Restrictions to Control Usage of Charitable Gifts10/31/2019
For many, philanthropy is an important part of an estate plan and a family legacy. Unrestricted gifts can be risky, especially large donations that will benefit a charity over a long period of time. There are measures that can be taken to ensure that donations are used to fulfill the donor’s intended charitable purposes.
- Anchin Names Russell B. Shinsky as Co-Managing Partner10/3/2019
We are pleased to announce that Russell B. Shinsky has been elected as Anchin’s Co-Managing Partner, effective October 1st. Russell will serve alongside current Managing Partner, Frank A. Schettino, who is scheduled to retire September 30, 2020. Russell will become the seventh Managing Partner in Anchin’s nearly 100-year history, and like Frank, has spent his entire professional career at the firm.
- Hack Attack: Understanding Unauthorized Computer Data Access From the Client’s Viewpoint Webinar10/2/2019
Watch this PR Council webinar to see Russ Safirstein, leader of Anchin Digital Risk Solutions, share steps your clients must take as soon as they discover their computer system has been compromised. He also reviews risks, responsibilities, requirements and reporting deadlines that must be met with any data breach, so that you can be prepared with your crisis communications strategy.
- Getting Ready for New York’s New License9/27/2019
Traveling is about to become trickier for New Yorkers unless they update their driver’s license. Starting on October 1, 2020, New Yorkers will need either a REAL or Enhanced Driver’s License (EDL) to board an airplane or enter certain government buildings, unless they travel with a passport even on domestic flights. While some license updates can be handled online or through the mail, New Yorkers will have to appear at the Department of Motor Vehicles with several identification documents in hand to get their REAL or EDL.
- How to Protect Yourself Online9/27/2019
There has been no shortage of news about online privacy. Whether it is big tech gaining a bigger hold on our private lives or hackers stealing personal information both at the corporate and individual levels, data seems to be at risk with every click of the mouse.
- What You Can Deduct When Volunteering9/27/2019
Many people are familiar with the rules governing contributions of assets to charitable organizations, but another part of the equation that sometimes goes unaccounted for is the contribution of time and the expenses that may come along with one’s charitable efforts. If a taxpayer itemizes their deductions, charitable contributions of cash or property may increase tax savings. However, the value of one’s time or services is not a charitable contribution. It does not matter if the service requires skill (for example a carpenter). The value of time is not tax deductible.
- Ultra-rich Americans are selling off luxury real estate faster than they're snapping it up, and it's not the only change they're making to their portfolios as recession fears linger9/19/2019
Jared Feldman, Co-Leader of Anchin Private Client, says his clients are continuing to make such investments and taking advantage of discounted opportunities.