Year End Tax Planning & the Kiddie Tax - IRC §1(g)(2) - IRS Form 8615, one of the most common year end tax planning considerations revolving around the implications of sheltering and feeding fully grown and educated children. In that flying the coop has become increasingly...
This new law concerns the authority of a pass-through business entity to elect to pay state income taxes at the entity level, known euphemistically as Colorado’s SALT Parity Act. HB21-1327 authored by Representative Ortiz & Van Winkle and Senators Kolker and Woodward among other things added...
The Californication of Colorado Continues...
Colorado Tax Legislation Update As the Chair of the Government Relations Committee for the Colorado Society of Enrolled Agents outreach to legislators was provided on bills moving through the process this session as they pertained to matters of taxation. With special thanks to Heidi Morgan of Wagner...
IRS proposed Regulations on Basic Exclusion Amount for Estate and Gift Taxes. The Tax Cuts and Jobs Act increased the basic exclusion amount (BEA) used to compute federal estate and gift taxes. For decedents dying and gifts made after Dec. 31, 2017, and before Jan. 1, 2026, the...
Understanding Schedule M-2 on IRS Forms 1120 and 1120-S is being brought to you from the rear passenger seat of my Toyota Sienna while commuting back to Fort Collins Colorado where my eldest is navigating CSU’s new Agricultural Biology program. To assuage pending separation anxiety, jotting...
What is YOUR exit strategy from THAT partnership?...