Time to Plan for the New Tax Reform Law
Wed, 12 Sep 2018 20:45:52 +0000
The new tax reform law which was enacted on December 22, 2017, and commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years.  Nearly everything in the TCJA went into effect on January 1, 2018.  It has both good and bad news for taxpayers. Now, many […]
Assessing Your Exposure to the Estate Tax and Gift Tax
Wed, 29 Aug 2018 21:01:20 +0000
When Congress was debating tax law reform last year, there was talk of repealing the federal estate and gift taxes. Both still exist and every taxpayer with a high degree of wealth shouldn’t let either take their heirs by surprise.
Take Note of the Distinctive Features of Roth IRAs
Wed, 29 Aug 2018 20:50:28 +0000
For some people, Roth IRAs can offer income and estate tax benefits that are preferable to those offered by traditional IRAs. However, it’s important to take note of just what the distinctive features of a Roth IRA are before making the choice.
What a Wonderful Vacation!
Wed, 08 Aug 2018 14:12:54 +0000
Everyone loves a vacation.  Some are more special or unique than others.  That would certainly describe the most recent vacation taken by RBSK’s own Bob Blankman along with his wife Carol and daughters, Lisa and Megan.  They traveled to Italy for a very special purpose. They left Indiana on June 30th arriving in Rome on […]
Three Common Types of IRS Tax Penalties
Fri, 01 Jun 2018 15:48:11 +0000
Around this time of year, many people have filed and forgotten about their 2017 tax returns. But you could get an abrupt reminder in the form of an IRS penalty. Here are three common types and how you might seek relief.
Deducting Home Equity Interest Under the Tax Cuts and Jobs Act
Fri, 01 Jun 2018 15:36:35 +0000
the IRS recently issued a statement clarifying that the interest on home equity loans, home equity lines of credit and second mortgages will, in many cases, remain deductible.
Foreign Accounts Call for Specific Reporting Requirements
Mon, 14 May 2018 19:43:56 +0000
In an increasingly globalized society, many people choose to open offshore accounts to deposit a portion of their wealth. When doing so, it’s important to follow the IRS’s strict foreign accounts reporting requirements. In a nutshell, if you have a financial interest in or signature authority over any foreign accounts, including bank accounts, brokerage accounts, […]
Get an Early Tax “Refund” by Adjusting Your Withholding
Mon, 14 May 2018 19:35:04 +0000
Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government an interest-free loan for close to a year, which isn’t the best use of your […]
Crooks Direct Taxpayers to to “Verify” Calls
Mon, 14 May 2018 19:07:13 +0000
WASHINGTON – The Internal Revenue Service warned of a new twist on an old phone scam as criminals use telephone numbers that mimic IRS Taxpayer Assistance Centers (TACs) to trick taxpayers into paying non-existent tax bills. The IRS and its Security Summit partners – the state tax agencies and the tax industry – urge taxpayers to […]
Equifax Data Breach – 9 Ways to Protect Your Business
Wed, 04 Oct 2017 20:28:19 +0000
Consumers have been the target of most of the fraud prevention measures the Equifax breach highlighted. However, there are many things business owners should also put into place in highlight of this case. Here are nine steps you can take to help protect your business. The first step is to act quickly and review your […]