ARCHIVED BLOG POSTS
2019
In our Exton PA office, we are seeing more taxpayers invest in Bit Coin or some other form of Virtual Currency. The IRS has also taken notice. Whereas our clients meet with us to discuss the proper reporting of gains (or losses) from their investments, the IRS focus is on taxpayers who may have w...
10/16/2019
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Do you have IRS tax problems? Do you owe the IRS more than you can afford to pay? Are you facing IRS liens and levies? Do you know that realtors are often audit targets of the IRS? Hopefully we can help you create a workable plan to avoid owing the IRS and being an IRS audit target. We specialize...
10/15/2019
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Excess IRA ContributionAugust 20, 2019 by Frank (Edit)“Excess IRA Contributions Cannot be Ignored, Unless You Don’t Mind Being Assessed an Annual 6% Penalty”BackgroundIf a contribution is made to an Individual Retirement Account (IRA) in excess of the allowable amount, that contribution is referr...
10/14/2019
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Safe Harbor for Lessors Who Rent Real EstateLessors of rental property can significantly save income taxes if their rental activities are considered a trade or business. There has been much publicity about the safe harbor rule under which a rental real estate enterprise will be treated as a trade...
10/09/2019
Our Exton PA office is alerting PA Lessees that the Commonwealth of PA Requires PA Lessees of Real Estate to Withhold the PA Personal Income Tax (PIT) on Lease/Rental Payments Made to Non-PA Resident Commercial LandlordsAugust 20, 2019 by Frank (Edit)Lessees Required to Withhold PA PIT on Lease P...
10/08/2019
As an affiliate member of the Suburban West Realtors® Association and as a tax advisor to realtors and real estate investors, our firm is always looking at court cases, IRS rulings, tax law changes, etc. that impact realtors and real estate investors. We are always looking for ways to minimize ou...
10/07/2019