Woodbridge, New Jersey – April 26, 2015: A replica of the Back to the Future DeLorean is shown at a local car show Getty My daughter asked for a pair of throwback Nike sneakers this week to match her ringer tees and scrunchies. Not to be outdone, my son wants a DeLorean. It feels like
Taxes
College fund. Piggy bank with coins. Money for education. Getty 529 plans and custodial accounts are two of the most common ways to save for college, but they have distinctly different benefits for families. Understanding the differences between the two savings methods is essential to choosing the right one for you and your children, so
Recently, in Revenue Procedure 2019-32, the IRS provided a six-month extension for certain partnerships to file a superseding Form 1065 (its partnership return) and corresponding Schedules K-1 to each of its partners. The Bipartisan Budget Act of 2015 (the “BBA”) drastically changed the way that partnerships are audited, including partnership-level assessments; smaller partnerships, however, can
Getty On Monday, I gave a speech in front of the National Association for Enrolled Agents (NAEA) about challenges in the tax profession. One of the things that I talked about was the importance of following the rules. Today, a district court judge ruled against the Internal Revenue Service (IRS) on just that point: they
Government regulators believe that many financial advisors give bad advice about IRAs because the advisors have inherent conflicts. There has resulted in a stream of rules and regulations. The main concern of regulators is what happens to an individual’s 401(k) account after leaving a job. The regulators concluded that too many advisors recommended that the