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Category: taxes

QTIP Trusts

Posted in asset protection,estate planning,Firm News,taxes,trust on May 16, 2017

A Qualified Terminable Interest Property (QTIP) Trust is a trust that enables the grantor to look after his or her current spouse and ensure that the assets from the trust are then passed on to beneficiaries of the grantor’s choice, such as children from a grantor’s previous marriage. In addition to providing the living spouse… (Keep reading)

End of Year Donations and Write Offs

Posted in charitable donations,donations,Firm News,tax planning,tax write offs,taxes,write-offs on December 27, 2016

Here at year end many people are preparing to make charitable donations. As long as the checks are in the mail by December 31st, 2016, you will be able to write off the donation on your 2016 tax return. If you are making your donation using a bank-issued credit card, you can claim the write-off… (Keep reading)

Nevada Commerce Tax

Posted in commerce tax,Firm News,nevada business tax,nevada commerce tax,taxes on September 20, 2016

In June of 2015, the State of Nevada passed a law establishing a Commerce Tax. The tax is a gross receipts tax. Every person or entity doing business in the State of Nevada must file a return, even if no tax is due. The taxable year runs from July 1st to June 30th of the… (Keep reading)

IRS Scams – Part 2!

Posted in Firm News,identity theft,IRS,phishing,scams,tax planning,taxes on August 16, 2016

Each year, the Internal Revenue Service releases a list of the worst tax scams. These scams peak at tax season, but they happen all year round. Here’s a roundup of some of the fraudsters’ favorites. Identity theft, phone scams and “phishing” are listed as the top three forms of scams. Identity theft, of course, is… (Keep reading)