Certain Expenses Of A Trust Are Still Deductible
November 5, 2020
by David Biscoe Bingham
The Tax Cuts and Jobs Act (TCJA), while lowering taxes for most, raised them for a few. One group of those few taxpayers for whom taxes went up under TCJA were certain trusts and estates (generally those with large investment advisory fees or certain other expenses). The issue for these trusts is…
"In These Uncertain Times": The Tax Consequences of PPP Loan Forgiveness
November 5, 2020
by Craig R. Cockrell
“These uncertain times” has been an often used phrase over the course of the last several months, and in no facet of 2020 life is it more applicable than the Paycheck Protection Program (PPP) loans implemented as part of the CARES Act. In a matter of just a few months, the Small Business…
The Benefits of Protective Form 1120-F Filings
November 5, 2020
by Jonathan K. Nichols
Modern corporations can easily conduct operations from almost anywhere in the world, and are creating revenue streams which originate and travel internationally before arriving wherever those corporations call home. If a corporation has even a small amount of operations in the United States, or has…
Understanding Medicare
November 5, 2020
by Jennifer R. Pierce
What does Medicare cover? What are the costs of Medicare? What happens if you forget to enroll for Medicare? Medicare is the federal health insurance program for people in the United States who are over the age of 65 or certain younger people with disabilities. Medicare is funded in part by payroll…
COVID-19 Pandemic Highlights Need for College-Aged Students and Young Adults to Prioritize Estate Planning
November 5, 2020
by Ashley L. Gill
Facing mortality does not come easily to anyone, but particularly not for college-aged students or young adults. As a result, many young people, to the extent they think about estate planning at all, mistakenly assume that estate planning is something needed by only the eldest or wealthiest members…