Tax Warrior Chronicles

Last-Minute, Year-End Tips for Self-Employed Taxpayers

Posted on Thu, Dec 26, 2019

By: Steven R. Rossman, CPA, MST

 

Running your own business can be very satisfying and rewarding; and with the emergence of the “Gig Economy,” more of you are moving from being an employee and receiving a W-2 to being self-employed.  Whether you have a side hustle or own a small business, today’s post should help with managing the tax and income-reporting process.

Read More

Opportunity Zone Must-Knows Before Year-End

Posted on Mon, Dec 16, 2019

By: Chris Catarino, CPA, MT

 

ALERT! The article below was written prior to Treasury’s release of the final Opportunity Zone regulations on December 19, 2019 and has not been updated to incorporate any items that may have changed. Stay tuned for more as The Tax Warriors pour through the 544 pages of new guidance, which you can access here. Happy Holidays from the IRS!

 

At Drucker & Scaccetti, December is always abuzz with tax planning as our clients’ annual tax pictures come into better focus and strategies can be designed and implemented to increase Santa's allocated budget. But in the Opportunity Zone (OZ) context, year-end is even more critical. Below are 3 things you need to know

Read More

The New Tax Law: 2018 Year-End Planning Tips for Businesses

Posted on Wed, Nov 28, 2018

The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017, and became effective on January 1, 2018.   For many businesses, the TCJA provides benefits such as reduced corporate tax rates, removing the corporate alternative minimum tax, and a new pass-through business income deduction.  However, many tax planning ideas go beyond the big-ticket items.  The Tax Warriors® at Drucker & Scaccetti are here to provide some of the top year-end tax planning tips.

Read More

Year-End Tax Planning Moves in Light of Tax Reform

Posted on Thu, Dec 21, 2017

By: Chris Catarino, CPA, MT

 

With the House and Senate both approving the Tax Cuts and Jobs Act on December 20, 2017, The Tax Warriors® and the rest of the tax community are just digesting the comprehensive changes coming to our tax code. While it will take years for authorities to issue guidance and practitioners to understand the impact of the new laws, we’ve identified last-minute 2017 planning opportunities you can take advantage of before many of the new provisions are slated to take effect in 2018.

Read More

Conference Call - Tax Reform Overview & Impact

Posted on Tue, Nov 28, 2017

Drucker & Scaccetti is having a conference call this Friday, December 1, to discuss the Tax Cuts and Jobs Act making its way through Congress. After an introduction and clarification on the more impactful changes and thoughts on year-end planning, you will have the opportunity to ask questions.  Read on for registration instructions.

Read More

SPECIAL VIDEO – “Keys to Reducing My 2014 Tax Liability”

Posted on Wed, Dec 17, 2014

Time is running out to take meaningful action to reduce your 2014 tax liability. And, with President Obama poised to sign the Tax Extenders bill, there is plenty to consider.  Money Matters TV hosts Brian Kohute and Jane Scaccetti recorded a special show to help you reduce your 2014 tax liability. Several scenarios are discussed and you’ll get valuable tips on how you can stay on top of the 2014 tax changes and be better prepared to file your 2014 return in April.

Read More

Year-End Planning Strategies for the Net Investment Income Tax

Posted on Mon, Oct 27, 2014

The 3.8% surtax on unearned income of higher-income individuals, which went into effect just last year, is likely to play a prominent role in your year-end tax planning. After working through the mechanics of the new tax for the first time in 2013, The Tax Warriors® have come up with a handy list of planning ideas aimed at reducing exposure to the surtax on investment income.

Read More