Author: taxsecretsblog

Article Highlights:   It is time to gather your information for your tax appointment Choosing your alternatives Sales of property Depreciation Where to Begin? Accuracy Even for Details Marital Status Change Dependents Some Transactions Deserve Special Treatment Sales of Stock or Other Property Gifted or

January 1 - Beneficial Ownership Reporting - On December 23, 2024, the Fifth Circuit Court of Appeals lifted the FinCEN Beneficial Owner Information (BOI) reporting injunction and FinCEN has set new reporting deadlines. See January 13, 2025. January 13 - Beneficial Ownership Reporting - On

Tax avoidance has long been a contentious topic in the business world, but few industries blend its complexities with glamour quite like Hollywood. During the Golden Age of Hollywood, a period marked by glittering stars and box office dominance, major players in the film industry

December 2 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2024. Taxpayers with substantial increases or decreases in income, changes in marital status or dependent status, and those who sold property during

What do you get the wealthy client who has everything? The answer, according to savvy money managers, might surprise you: a loss-making investment. This seemingly counterintuitive strategy is the basis for Wall Street’s latest tax-saving innovation—tax-aware long-short strategies. These approaches are gaining traction among the ultra-wealthy,

Retirement is your reward for a lifetime of hard work, but keeping more of your savings in retirement requires strategy. Many Baby Boomers unknowingly leave tax dollars on the table by missing out on tax-savvy moves. You’ve built up a lifetime of savings—now it’s time

Kristo Käärmann, CEO of Wise Plc, recently found himself in hot water after being fined £365,651 by HM Revenue & Customs (HMRC) for significant tax issues. However, his problems didn’t end there. Per Bloomberg, the UK’s Financial Conduct Authority (FCA) imposed an additional penalty, criticizing

If you’re the driving force behind a small or medium-sized business, you know that cash flow is the lifeline of your operations. Yet, in the daily whirlwind, an incredible opportunity often gets overlooked—tax credits. These aren’t just numbers on a financial statement; they’re transformative tools

The holidays are right around the corner, and while the festivities bring joy, they can also bring financial stress if you’re not careful. With a bit of proactive planning in November, you can sidestep that dreaded January credit card bill and truly enjoy the season.

In the world of the ultra-wealthy, art is more than just an aesthetic pleasure or a cultural investment—it’s a clever tax-saving strategy. As Roman so memorably quips in HBO's Succession, Logan Roy had "like three Gaugins no one has ever seen" hidden in vaults for