FF&F News & Events
Most families understand the necessity of saving funds for higher education. A number of federal and state tax benefits are available to help achieve this goal.
Although most taxpayers would never consider relinquishing their U.S. citizenship or surrendering their status as U.S. permanent residents, a certain minority of taxpayers in fact do so. As reported by Bloomberg, expatriation from the U.S. has been on the upswing since 2010 and a record 2,367 people relinquished their U.S. citizenship in the fourth quarter of 2016.
Perhaps more often than ever, we’re seeing many people walking away from the once-coveted 9 to 5 job and instead moving into the self-employment arena. As is to be expected with any life-changing decision, making the shift to self-employment comes with an array of tax benefits and pitfalls to consider.
The PrompTax program is an electronic filing and payment program used for remitting payroll tax withholding (including metropolitan commuter transportation mobility tax) as well as sales, motor fuel and petroleum business taxes. NYS is requiring mandatory participation in this program for businesses who meet the enrollment criteria.
Business mergers and acquisitions can be complex when it comes to taxation issues. When purchasing a corporation, both the buyer and seller need to first determine whether the deal will be structured as an asset or stock deal.
Businesses with fewer than 100 employees accounted for the highest percentage of fraud instances and higher median loss than their larger counterparts, as reported by the Association of Certified Fraud Examiners (ACFE). Fortunately, there are steps your company can take to help prevent and detect fraud. The most important step for any small business owners is to implement properly designed internal controls.
In a recent decision, the United States Court of Appeals for the Sixth Circuit confirmed the legitimacy of the strategy of using a Domestic International Sales Corporation (DISC) as a vehicle to fund a Roth IRA. This decision is particularly noteworthy for individuals who have interests in businesses that sell products for export.
The Alliott Group 2017 EMEA Regional Conference in Berlin takes place over four days and will enable attendees to listen to and learn from a range of speakers on business, technical, marketing and firm improvement topics that will help their firms and their clients to be smarter and more strategic in the way they do business, particularly when business crosses geographic borders.