Withum

AUGUST 24, 2023

The choice of where to establish one’s residency prior to a liquidity event can have far-reaching implications regarding income taxes and personal financial goals. Make sure you are considering the type of income when implementing state income tax planning techniques.

income tax 52

income tax tax planning South Dakota Wyoming 52

CPA Practice

JUNE 5, 2023

But the NBA Finals—and other sporting events—are connected to taxes in a big way. That’s partly due to a lucrative income tax imposed by all but five states known as the “jock tax.” And professional athletes aren’t the only ones affected by the tax. What is the jock tax? The tax has an interesting history.

income tax 118

income tax Tax Sports Nevada 118

Nancy McClelland, LLC

APRIL 11, 2023

It’s that time again… Tax Day is upon us and millions of taxpayers will need to have their returns extended for various reasons. The AICPA has released a “Tax Extension FAQ” for CPA members to share with their clients. An extension is a form filed with the IRS to request additional time to file your federal tax return.

Tax 98

Tax tax return CPA Illinois 98

Nancy McClelland, LLC

APRIL 9, 2024

We still want folks to make quarterly payments (see my related IRS & Illinois posts for how to do it online), but for the first quarter, at least, we’re asking everyone to use “safe-harbor” calculations. However, times have changed. Why Use 1Q Safe-Harbor Calculations Instead of Annualizing?

Illinois 52

Illinois Tax tax preparation tax return 52

CPA Practice

JANUARY 31, 2023

Gabe Rivers focuses on providing income tax planning and tax compliance services to high-net-worth individuals and families, partnerships, S corporations, trusts, and private foundations.Gabe holds a Bachelor of Business Administration and a Master of Accountancy from the University of Tennessee.

New Hampshire 110

New Hampshire Georgia Virginia public accounting 110

CPA Practice

OCTOBER 16, 2023

Rahill, CPA/PFS, JD, LL.M., For taxpayers who find themselves in this situation, thoughtful tax planning is essential. Here’s how this home sale strategy can help your clients be more tax savvy while navigating today’s real estate market. For example, a $4 million gain could easily result in a tax bill of $1.2

Sales 122

Sales Real Estate Tax tax planning 122