Archive: tax liability

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Tax Evasion vs. Tax Avoidance

Last month, rapper and producer Earl Simmons, commonly known as DMX, was caught Slippin’ as he pleaded guilty to tax fraud at a court hearing in Manhattan, New York. For nearly half a decade, the rapper has grossed millions of dollars from his hit recordings, television appearances, and other varied royalties. It is alleged that […]
January 5, 2018

The IRS is Not a Party to Your Divorce, Your Agreement Does Not Bind Them

When a couple signs the dotted line of their divorce agreement, they should know that the IRS is not bound by the terms of that agreement. Evidenced in the case T.C. Memo 2017-80, the Tax Court has sided with the IRS in saying that it is not bound by the terms of a couple’s divorce […]
July 11, 2017

Recent Tax Developments that May Impact Construction Contractors

Staying abreast of tax changes for your construction business can seem like a moving target, but continuous planning can help you minimize liability. In the second quarter of 2014, we saw a number of important tax developments that should be considered when managing your construction business. No bankruptcy exemption for inherited IRAs.A unanimous Supreme Court […]
July 17, 2014
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  • Aronson

Changes to the Healthcare Tax Credit for Small Business Employers

As small businesses work to keep up with the evolving state of healthcare in the U.S., recent tax changes may be a double-edged sword for employers. The good news is that the available tax credit, for plan years beginning after December 31, 2013, has increased from 35 percent up to 50 percent of premiums paid […]
June 27, 2014

The Basics to Know About Foreign Tax Credits

1. Foreign Taxes Paid by a U.S. Company Conducting Business Activities Directly in a Foreign Country or through a Foreign Branch C Corporation – A U.S. company that is a C corporation which conducts business in a foreign country directly or through a foreign branch may claim a foreign tax credit for foreign taxes paid […]
October 25, 2012