Articles and News
Missed Individual Tax Deductions
I have provided 5 often overlooked tax deductions that just might save you real money on your taxes this year.
Taxation of Irrevocable Trusts
As we approach another tax season, an area of taxation that can be complicated for taxpayers involves the tax treatment of irrevocable trusts.
IRS Offer In Compromise
An offer in compromise allows you to settle your tax debt for less than the full amount you owe.
Real Estate Investment Trusts Tax Benefits
An individual who can qualify as a “real estate professional” for federal tax purposes enjoys some unique tax benefits.
Drafting QDROs in Divorce
This post provides guidance for the process of drafting domestic relations orders that qualify as QDROs in a divorce.
IRS Foreign Bank Account Disclosure
The IRS has announced updated procedures for taxpayers to file overdue FBAR (Foreign Bank Account Report) foreign account disclosures.
Alabama Sales Tax on Successor
Most states maintain some sort of successor liability provision in their tax statutes.
Home Office Tax Deduction and Safe Harbor
Self-employed individuals and employees who work out of their home are allowed to deduct business expenses relating to part of their home.
Dividing Retirement Plans & IRAs in Divorce
In many divorces, retirement plans are the parties’ most significant asset.
Alimony in Alabama
There are two general kinds of alimony in Alabama divorces, one referred to as "periodic alimony" and the other referred to as "alimony in gross").
Tax Treatment of Retirement Assets and Pension Benefits
Pension benefits and retirement savings often constitute a client’s most valuable assets, and are viewed as a safety net.
Alabama Intestate Law
When a person dies intestate, the Alabama laws of intestacy will kick in to provide for distribution of the intestate decedent’s assets.
Child Support in Alabama
You may need information on child support: a) If you are going through a divorce; or b) If you are separated or are now separating from the other parent.
Alabama Tax Fairness Act
Alabama has become the 32nd state with an independent tax appeals process.
S Corporation Late Election Relief
When an S election is not filed, the corporation is treated as a C Corporation and its losses/gains are taxed to the corporation.
Tax Returns and the Affordable Care Act
The Affordable Care Act is part health law, part tax law.
Net Investment Income Tax
The NIIT applies at a rate of 3.8% to certain net investment income of individuals, estates and trusts that have income above the statutory threshold amounts.
LLC/Partnership--Profits Interest vs. Capital Interest
Partnerships can grant profits interests or capital interests for services. LLCs taxed as partnerships are proliferating.
Tax Returns and Affordable Care Act
The Affordable Care Act is about to collide with the U.S. tax-filing season, adding frustration for millions of taxpayers trying to figure out how to comply and how much they will owe the government.