Tag Archive: "Tax"
-
IRS Takes Aim: Sweeping New Compliance Efforts Announced
The IRS recently announced the start of a “sweeping, historic” effort to restore fairness to the tax system, made possible by funding from the Inflation Reduction Act (“IRA”). Their plan to restore fairness in tax compliance focuses on shifting more attention to high-income earners, partnerships, large corporations, and promoter’s abusing our nation’s tax laws. The […]
-
Washington’s Real Estate Excise Tax
I recently had the pleasure of collaborating with some of our real estate leaders in Western Washington, including our new friends from Frost & Company, PLLC. We spent time discussing all things Washington real estate, including their state and local Real Estate Excise Tax (REET). Washington property owners and investors may know the REET all […]
-
Tax Planning Strategies for 2022 and Beyond
Happy holidays, everyone! The following are just a few year-end strategies that could yield significant tax benefits for 2022 and beyond. Roth IRA conversions Many retirement account values decrease in 2022, presenting an opportunity for taxpayers to consider converting their traditional IRA to a Roth IRA. When a traditional IRA is converted to a Roth […]
-
New Direction for Potential Tax Legislation?
Authored by: Miryam Wisnicki, Melissa Labant and Chris Hesse After a week of backdoor negotiations between President Biden and key Democrat holdouts Senators Joe Manchin and Kyrsten Sinema, the White House and progressive Democrats appear prepared to compromise on some significant priorities in order to cobble together a social spending package that can pass Congress. Speaker Pelosi expects […]