by apexcpas | Jul 4, 2018 | Tax Planning
An 1895 version of the painting “The Scream” by Edvard Munch recently sold for a record-shattering $120 million at a Sotheby’s auction in New York. The seller of the piece, a Norwegian businessman, will undoubtedly be paying a hefty tax on the sale....
by apexcpas | Jul 4, 2018 | Tax Planning
Here is yet another case that emphasizes the importance of being careful when using a family limited partnership as an estate planning tool. Lois Lockett’s husband predeceased her, and his will established a trust for her benefit. As part of her estate planning,...
by apexcpas | Jul 4, 2018 | Tax Planning
An investor’s intent may not always be obvious, but recently a couple’s activities helped clarify their decisions for the Tax Court. The IRS questioned the validity of a like-kind exchange made by Patrick and Jill Reesink of San Francisco. And the case...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has provided the annual inflation-adjusted contribution, deductible and out-of-pocket expense limits that will apply to health savings accounts for 2013. Subject to statutory limits, eligible individuals may make tax-deductible contributions to health savings...
by apexcpas | Jul 4, 2018 | Tax Planning
With some parts of the economy starting to pick up, more people are in the market for a new job. Here are eight tax tips about the costs you might incur while job hunting – and the ins and outs of related tax deductions: To qualify for a deduction, the expenses...