Expatriation from the United States, Part 1: The Exit Tax

In addition to the Exit Tax, the HEART Act (Heroes Earnings Assistance and Relief Act of 2008) added a new federal transfer tax, which imposes an Inheritance Tax on certain gifts or bequests (testamentary dispositions) made by a "covered expatriate" to U.S. recipients. This is the secon...

In March, the Employee Retention Credit (ERC) was extended through Dec. 31, 2021, and expanded as part of the American Rescue Plan Act of 2021 (ARPA). But, let’s face it: Many CPAs — the highly trusted, value-added professionals — are blowing it.  We are not fully understanding the nu...

“Where were you on that one?”   It’s the line Happy Gilmore mutters to his caddie after an early gaffe at the Waterbury Open; it’s also a question tax advisors know all too well. Our clients heard something or read something that may apply to their tax planning, and they want to know w...