Tax Warrior Chronicles

June 30th Opportunity Fund Testing is Near - Here’s What You Need to Know to Pass!

Posted on Mon, Jun 10, 2019

chris-catarino-largeThe most recent set of proposed Opportunity Zone (OZ) regulations, issued by Treasury in April, provide the clarity many OZ Fund sponsors need to begin doing deals. However, early-adopters formed funds in 2018 and the beginning of 2019 despite the uncertainty in the law. For these courageous few, a critical IRS testing date is fast-approaching on June 30, 2019. Today, we discuss what you need to know to pass your OZ Fund’s mid-term test.

 

Back-up... there’s a test my fund needs to pass to ... Read More

What Pride Month Means to The Tax Warriors

Posted on Fri, Jun 07, 2019

new_D&S_logo_Rainbow-White_4.18-1By: Eric R. Elmore

 

When I was growing up in the 70s, there was a Sunday morning children’s program called “Wonderama.” Its closing theme song was “Kids are People, Too.” I’m proud to work for a firm that views and treats members of the LGBTQ community the same way…as people, like everyone else. 

 

Before the Read More

Wayfair - One Year Later

Posted on Thu, Jun 06, 2019

CLARE PORRECA - OFFICIAL - 2016By: Clare Porreca, CPA, MT

 

Since the U.S. Supreme Court’s 2018 decision in the South Dakota v. Wayfair, Inc. case, states have continued to update their statutes to assess and collect sales tax from out-of-state sellers, specifically, online retailers.  In a nutshell, the Supreme Court agreed that out-of-state sellers who met certain thresholds had nexus in South Dakota and thus, ... Read More

"Spring Forward" with a W-4 Check-up

Posted on Tue, Jun 04, 2019

TCJA-2017By: Kelly Ha

 

Remember that government form called a W-4? It's usually part of a pile of other forms when starting a new job, and determines the amount of income taxes that your employer will withhold from your paycheck. This week, the IRS issued a draft of the new Form W-4, which reflects changes under the Tax Cuts and Jobs Act (TCJA).  Here's what you need to know...

 

A Form W-4 comes with a series of worksheets that help you calculate ... Read More

Tax Implications of Senator Elizabeth Warren's Plan to Eliminate Student Loan Debt

Posted on Thu, May 23, 2019

AdeleBy: Adele Kilgus, CPA

 

Democratic presidential hopeful Elizabeth Warren's plan to forgive student loan debt has been making headlines the past few months. The Tax Warriors wanted to dive in to see what tax implications could be lurking amidst the plan.

What's the plan?

  • Cancellation of $50,000 in student loan debt for every person with household income under $100,000.
  • The $50,000 cancellation amount phases out by $1 ... Read More

Learn from The Tax Warriors® – Upcoming Events

Posted on Wed, May 22, 2019

DS 2017 Social Media Icon 2Educating clients is among the most important parts of being a Tax Warrior.  We take pride in helping clients sustain and grow their wealth through Tax As A Business Strategy®  and introducing our expertise to new audiences.  To that end, here are a few upcoming events featuring Tax Warriors as speakers/educators.  We hope you can participate in one of our programs.

 

International Private Client Issues ... Read More

HAPPY MOTHERS' DAY - Advice to New Moms on Returning to Work

Posted on Thu, May 09, 2019

DottieBy: Dottie Leonardi

 

At Drucker & Scaccetti, our 100-person tax advisory and consulting firm is having a mini baby boom.  Our ranks include three new moms, two expectant moms and one returning mom, plus two expectant dads. 

 

We are developing a new parent coaching group to help navigate the return to work for our new parents and are discussing how best to provide this.  Who will be the coaches; recent new parents or experienced ... Read More

How Social Media Influencers Are Taxed In the U.S.

Posted on Tue, Apr 30, 2019

tax-warriors_v2By: Ted Nebiolo

 

Social Media is a normal and constant part of our lives. In 2019, there will be 2.77 billion social media users; that’s slightly more than one in three people on the planet!* For some social media users, with a large following and with high engagement of those followers, this means big business and potential income. Companies are using social media to market their products to an influencer’s universe of followers. In today’s blog, ... Read More

The QOZ Wait Is Over (For the Most Part)

Posted on Fri, Apr 26, 2019

Steven-R-RossmanBy: Steven R. Rossman, CPA, MST

 

Since its initial appearance as a meager six pages of the Tax Cuts and Jobs Act of 2017, the IRS has released two sets of proposed regulations with almost 250 pages of guidance about Qualified Opportunity Zones (QOZ) and Qualified Opportunity Funds (QOF).  The most recent set of proposed regulations, released April 17, 2019, provide much-needed guidance and clarity that taxpayers and their advisors sought. ... Read More

VIDEO - Tax Day is Coming!

Posted on Wed, Apr 10, 2019

20190111_145931 (2)In our Center City Philadelphia headquarters, we proudly and prominently display our Tax Warrior Mantra. The words (written by the late Reese Palley) and images (illustrated by the late Tony Auth) were created specifically for The Tax Warriors® at Drucker & Scaccetti.  The Mantra captures the spirit of our firm and its quest to always be ... Read More