Timely updates on tax matters can help you better preserve and manage assets. We invite you to visit often in order to stay current on development impacting taxes.


Posted by on Friday, June 23rd, 2017 in Blog

The IRS recently published Rev. Proc. 2017-34 to simplify the method for certain taxpayers to obtain an extension of time to make a “portability” election. Under the Federal estate and gift tax regime, a portability election allows the surviving spouse to apply the decedent’s “deceased spouse’s unused exclusion” (DSUE) amount to the surviving spouse’s own […]


What Do New Proposed Regulations Under Code Sections 2701 and 2704 Mean to You?

Posted by on Monday, August 22nd, 2016 in Blog

IRS has issued proposed regulations concerning the valuation of interests in family-owned entities for gift, estate and generation-skipping transfer tax purposes.  The proposed changes would essentially eliminate the valuation discounts currently in place. Currently, if a business owner transferred a portion of his or her business to children or a trust for children, the tax […]


Scam Calls and Emails Using IRS as Bait Persist

Posted by on Friday, May 27th, 2016 in Blog

IRS Tax Tip 2016-19 Scams using the IRS as a lure continue. They take many different forms. The most common scams are phone calls and emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to […]


I need a HERO

Posted by on Friday, February 26th, 2016 in Blog

Many taxpayers have inquired as to the tax benefits and deductibility of the HERO (Home Energy Renovation Opportunity) and PACE (Property Assessed Clear Energy) loan programs. As background, both programs provide financing for eligible energy efficient, water efficient, and renewable energy products. They finance 100% of the cost to purchase and install eligible products. They […]


Canadian Retirement Plans – Simplified Reporting

Posted by on Wednesday, February 25th, 2015 in Blog

New for the 2014 tax year, U.S. citizens and residents with certain Canadian registered retirement savings plans (RRSP’s) automatically qualify for deferral of U.S. tax on the income earned on their Canadian retirement accounts. Rev. Proc. 2014-55. Previously, in order to defer taxation, Taxpayers were required to file the Form 8891 reporting account activity including […]

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