SOLAR PANELS BIDEN AND TARIFFS

Solar panels Biden and tariffs. It seems the Biden Administration is in a tough spot when making the call between pursuing Climate Change and the bad behavior of the Chinese with human rights abuses and intellectual property theft. Right now the Chinese manufacture just enough of the solar panels that the United States cannot pursue […]

FAMILIES FIRST CORONAVIRUS RESPONSE ACT

Families first coronavirus response act. As businesses reopen and employees return to work, we have seen an increase of the coronavirus affecting more employers. The FFCRA mandates paid sick leave and family leave for businesses with 500 employees or less. There is no cost to the employer share of the Social Security and medicare taxes […]

DISALLOWED TRANSPORTATION PART TWO

Disallowed transportation part two. The IRS has issued regulations implementing changes to Section 274 that disallow a deduction for QTF or Qualified Transportation Fringe. The Proposed regulations also include a special rule for certain mixed parking expenses to reduce administrative burdens for taxpayers and simplify calculations. While Notice 2018-99 addressed only expenses related to parking […]

PATH ACT AND IRS

Path Act and IRS. The Protecting Americans from Tax Hikes Act of 2015, or path act, enacted less than a year and a half ago on Dec. 18, 2015, has generated a number of questions, some of which the IRS has recently tried to address and others that are still in need of additional guidance. […]

HOMEOWNERS A VIRUS AND PROPERTY TAXES

Homeowners a virus and property taxes. Some 4.75 million homeowners are in forbearance as of May 26 with more than 41 million Americans filing for unemployment insurance benefits during the pandemic, making it tough for some to keep up with costs associated with home ownership, like property taxes and insurance. For many people affected by […]

DELAYED MORTGAGE PAYMENT ANXIETY

Delayed mortgage payment anxiety. Americans struggling to pay their mortgages because they’ve lost a job or income during the coronavirus pandemic can put off that bill for up to a year to the CARES act. But while the measures should be creating a feeling of relief, many borrowers have been left anxious because of confusing […]

WARREN SANDERS PLAN TO TAX RICH

Warren sanders plan to tax rich. From 1982 to 2018 the share of U.S. wealth held by the 400 richest Americans is estimated to have grown from 1% to around 3.5% or probably around $3 trillion. According to Emmanuel Saez and Gabriel Zucman, the University of California at Berkley economists who developed the estimate, that’s […]

TRADE WAR MAY CAUSE RECESSION

Trade war may cause recession. If a recession is coming, what should we do ? Not what President Trump and his economists are thinking about. While there is no certainty that a recession is in the offing, a number of Wall Street economists see warning signs–especially an inverted yield curve for bonds, which means that […]

IRS AND TREASURY ISSUE GUIDANCE

IRS and Treasury issue guidance. In our ongoing articles related to Tax Court, we are going to discuss an update from the IRS and Treasury Department related to Global Intangible low taxed income, or what is referred to as GILTI. Whenever tax law changes occur, such as the recently passed Tax Cuts and Jobs Act, […]