Author: Scott T. Ditman

If you dream of spending your golden years in a tropical paradise, a culture-rich European city or another foreign locale, it’s important to understand the potential tax and estate planning implications. If you don’t, you could be hit with some unpleasant surprises.

Read more: Retiring Abroad? Review your Estate Plan in Advance

Author: Eric James

A primer on how to navigate the changes

In the past few months, phrases like “tariffs on Chinese imports” and “trade war with China” have been floating around in the news. The government levied a 25 percent tariff on over $50 billion of products imported from China.

A tariff is a tax or duty paid on a particular class of imports or exports.

Read more: Will the tariffs on Chinese imports hurt my business?

President Trump and Republican lawmakers currently are considering a second round of tax reform legislation as a follow-up to last year’s Tax Cuts and Jobs Act (TCJA). House Ways and Means Committee Chair Kevin Brady (R-TX) just released a broad outline, or framework, of what the tax package may contain. And while this offers a glimpse of what might happen, as we learned with the TCJA there will be many changes along the way before passing final legislation.

Proposed Framework

One of the main themes of the proposed legislation is to make permanent certain provisions in the TCJA, including:

  • Federal income tax rate cuts for individual taxpayers,
  • The doubled child tax credit, and
  • The deduction for up to 20% of qualified business income (QBI) from pass-through entities (sole proprietorships, partnerships, LLCs and S corporations).

Read the entire article.

Author: Wayne K. Berkowitz CPA, J.D., LL.M.

Rightfully so, we have all been occupied with the U.S. Supreme Court decision in Wayfair, but that doesn’t mean we should forget about the basics of sales tax planning. As has always been the case, a simple change in a transaction’s structure or the check of a box (or not) can either be a big money saver or a huge unexpected cost.

Read more: Sales Tax Slip-Ups; Back to Basics in the Age of Wayfair