Monthly Archives: April 2017

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Tax Implications of Crowdfunding

Article Highlights: Crowdfunding Sites Gifts Charitable Gifts Business Ventures SEC Registration Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site specifies its own charges, limitations, and withdrawal processes. [...]

By | 2017-04-17T21:19:54+00:00 April 17th, 2017|Categories: Uncategorized|0 Comments

GOP Unveils Its Obamacare Repeal and Replacement Legislation

Article Highlights: Repeal of Individual Mandate Repeal of Employer Mandate Recapture and Repeal of the Premium Tax Credit Catastrophic Insurance Refundable Tax Credit for Health Insurance Health Savings Accounts Medical Deduction Income Limitation Repeal of Net Investment Income Tax Repeal of FSA Contribution Limits Repeal of Increased Medicare Tax Other Provisions On March 6, the [...]

By | 2017-03-29T18:38:02+00:00 April 12th, 2017|Categories: Uncategorized|0 Comments

Important Due Date: Foreign Account Reporting Requirements (FBAR)

Article Summary: Foreign Account Reporting Requirement Financial Crimes Enforcement Network Penalties for Failure to File Type of Accounts Affected Form 8938 Filing Requirements U.S. citizens and residents with a financial interest in or signature or other authority over any foreign financial account need to report that relationship by fling FinCEN Form 114 by April 18, [...]

By | 2017-03-29T17:57:55+00:00 April 10th, 2017|Categories: Uncategorized|0 Comments

Don’t Be Scammed By Fake Charities

Article Highlights: Fraudsters Urgent Appeals Tips to Avoid Scams & ID Theft Cash Contribution Tax Documentation Each year at this time, the IRS publishes its list of the “dirty dozen” tax scams. Among the dirty dozen are groups that masquerade as charitable organizations to attract donations from unsuspecting contributors. Before you write a check, be [...]

By | 2017-03-29T17:32:53+00:00 April 5th, 2017|Categories: Uncategorized|0 Comments

Tax Filing Deadline Is Around the Corner

Article Highlights: Balance due payments Contributions to a Roth or traditional IRA Estimated tax payments for the first quarter of 2017 Individual refund claims for tax year 2013  Just a reminder to those who have not yet filed their 2016 tax return that April 18, 2017 is the due date to either file your return [...]

By | 2017-03-29T17:21:25+00:00 April 3rd, 2017|Categories: Uncategorized|0 Comments