Tax Policy is a central issue during the current wavering economic conditions and the Presidential Race 2024. While the budget proposals would need sufficient support to be passed by Congress, it is a pivotal time for tax policy as the provisions of 2017 Tax Cuts and Jobs Act will expire after 2025...

At ACCO, our objectives encompass providing customers with the most effective ways to achieve long-term company and personal goals. As we step into the new tax cycle, business owners and leaders will need a strategic mindset to embrace challenges and seize opportunities...

Many privately-held companies are required to report information to FinCEN about the individuals who ultimately own or control them. FinCEN began accepting reports on January 1, 2024...

Wages do not necessarily increase with inflation, however state, city and county laws may address specific industries and business locations. Please be advised of employment standards according to Federal, State, and local government laws...

Shohei Ohtani's signing with the Los Angeles Dodgers on December 11, 2023, for 10 years and $700 million. It is the largest contract for any player among North American team sports. Today we outline some of the conditions and tax considerations for the deal...

Due to the 3-year statute of limitations for 941 amendments, the ERC is now pertinent as the 2020 and 2021 quarterly amendments are nearing the final due dates. ERC claimants may file ERC-VDP to repay and avoid penalties and interest. Meanwhile, business owner ERC-applicants are anxiously waiting for IRS processing...

Depending on the content and purpose of your business activities, there are several considerations for planning a U.S. expansion, including corporate law & jurisdiction, professional accounting & legal services, agency representation, tax requirements and compliance. Often an accounting firm with tax and advisory services will provide the necessary guidance and tax filings to support the business life cycle...

The House Ways and Means Committee publicly released Donald Trump’s Tax Returns on Dec 30, 2022, for 6 tax years from 2015 to 2020. Today we provide a summary table and simplified calculation of effective tax rate.  Each tax return extends from 500 to 1000 pages. We note that the Tax Preparer for 2015-2019 was Donald Bender from Mazars USA LLP. Then for 2020, the preparer was changed to Timothy P Horan of BKM Sowan Horan LLP (merged with CohnReznik in 2022).  Table: Summary of reported Tax Returns 2015-2020   2015 2016 2017 2018 2019 2020 Wages $14,141 $978 $373,629 $393,957 $393,928 $393,229 Taxable Interest $9,393,096 $8,994,141 $6,758,494 $9,435,377 $11,332,436 $10,626,179 Dividends $1,729,897 $337,938 $21,984 $60,254 $71,921 $25,347 Business Income -$599,030 $8,797,393 $1,433,030 -$430,408 -$225,560 -$29,686 Capital Gain $35,835,453 $10,941,053 $7,528,298 $22,015,123 $9,257,197 $0 Other Gains...

Achieving financial security while seizing opportunities becomes a challenging balance among industry competition. Our consultants can work through the various course strategies, identify and address roadblocks, and provide prudent methods and insights to achieve company progress and goals...