Tax
Corporate Transparency Act Reporting Rules Finalized, But Will Access Issues Cause Delay?
As of this writing (June 15, 2023), the Corporate Transparency Act (CTA)[1] is scheduled to take effect on January 1,...
Designing Trust Systems for Florida Residents: Planning Strategies, Things You Should Know, and Traps for the Unwary
Revocable and irrevocable trusts are commonly used as the primary platforms for estate and financial planning for individuals, married couples,...
Internal Revenue Code §1202 and You: Analyzing Exclusion of Gain on Sales of Small Business Stock
Section 1202 of the Internal Revenue Code provides a way for taxpayers to exclude much, if not all, of the...
Innocent Spouse Relief from Joint and Several Federal Tax Liability: Updates, Hurdles, and Considerations
Married couples can choose to file either joint tax returns or separate tax returns for federal income tax purposes.[1] In...
QDRO Math: Advice to Plan Administrators in Florida
Protecting retirement fund assets for public policy purposes has been deeply rooted in our nation’s history for as long as...
Reflections on a Vetoed Bill
On June 24, Gov. Ron DeSantis vetoed Senate Bill 1382, preventing the Department of Revenue from moving forward with sweeping...
Expatriation from the United States: The Inheritance Tax Under I.R.C. §2801
In addition to the Exit Tax, the Heart Act added a new federal transfer tax, which imposes an “Inheritance Tax”...
Preparer Penalties: The Thin Line Between Tax Advisor and Return Preparer
The IRS has issued over 1.8 million preparer tax identification numbers (PTINs) since September 2010. Of these, nearly 700,000 remain...
Navigating I.R.C. §2036 Tax Planning with Florida Law
For many years, a common estate planning technique has been to create a partnership or limited liability company (LLC) to...
Tax Penalties After VMOB: What to Know and How to Fight Back
A 2020 decision from the Second District Court of Appeal drastically changed how tax penalties work in Florida. The case,...
