Tax Planning Opportunities for Business Owners
Recent tax legislation contains several provisions that impose extra tax on high-income taxpayers, including those with income over $200,000. Often, such taxpayers are business owners. According to the National Federation of Independent Business, over 75% of all small...Year End Tax Planning for Retirement
For most workers, contributing to an employer sponsored retirement plan usually is a good idea. In 2013, since passage of ATRA, making full contributions to plans such as 401(k)s can be an especially valuable tactic for high-income workers who are close to retirement....Year End Estate Tax Planning
In 2013, the annual gift tax exclusion increased from $13,000 to $14,000. That is, each individual can give up to $14,000 worth of assets to any number of recipients with no tax consequences. (Married couples can give up to $28,000 per recipient.) Example 1: Marjorie...Custom Homebuilders Subject to Same UNICAP Rules as Spec Builders
A recent court case was decided that may affect many of our clients who work in the homebuilding industry. The U.S. Tax Court ruled that a custom homebuilder is subject to the uniform capitalization rules in the same way that a speculative homebuilder is. The Court...Update to Repair and Capitalization Regulations
On September 13, 2013, IRS issued long-awaited final regs providing guidance on the updated repair regulations issued earlier this year. These important new regs will affect virtually all taxpayers that acquire, produce, or improve tangible property. The final regs...Awards & Associations
"Thomas Judy & Tucker has long provided us with exemplary service. We can count on them — not to simply meet, but to exceed, our expectations."
- John Kane, Chairman & CEO Kane Realty Corporation