Take care of a loved one who has special needs with an SNT

Posted on Leave a commentPosted in Trusts, Uncategorized

Special needs trusts (SNTs), also called “supplemental needs trusts,” benefit children or other family members with a disability that requires extended-term care or that prevents them from being able to support themselves. This trust type can provide peace of mind that your loved one’s quality of life will be enhanced while not disqualifying him or […]

Combining business and vacation travel: What can you deduct?

Posted on Leave a commentPosted in albuquerque CPA , TAX advice, Business Planning and Consulting, Business Taxes, Colorado Tax and Accounting Consultation, Tax, Uncategorized

If you go on a business trip within the United States and tack on some vacation days, you can deduct some of your expenses. But exactly what can you write off? Transportation expenses Transportation costs to and from the location of your business activity are 100% deductible as long as the primary reason for the […]

Business Growth

Posted on Leave a commentPosted in Business Planning and Consulting, CFO Outsource, Personal consulting

4 pillars of robust business growth Many businesses start life small and simple. But with growth comes the need for a stronger company infrastructure and increased operational sophistication. As you pursue a more robust business, focus on these four pillars: Organizational management Implement a formalized system for measuring performance that begins with written job descriptions […]

Tread carefully if you and your spouse have similar trusts

Posted on Leave a commentPosted in Estate Tax, Personal consulting

When spouses have similar irrevocable trusts for each other’s benefit, they can be subject to the “reciprocal trust” doctrine. It prohibits tax avoidance through trusts that 1) are interrelated, and 2) place both grantors in the same economic position as if they’d each created trusts naming themselves as life beneficiaries. What not to do Suppose […]

PARTNERSHIPS: If you thought TEFRA was bad, these new partnership audit rules change the game….

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PARTNERSHIPS: If you thought TEFRA was bad, these new partnership audit rules change the game….   The rules apply to returns for partnership tax years that begin after December 31, 2017, including amended returns. These new rules effectively impose a tax on the partnership for changes found during an audit. Anyone operating as a partnership or […]

Some things for Anthony Scaramucci and Deidre Ball to consider – tax considerations in divorce.

Posted on Leave a commentPosted in Personal consulting, Personal Finances, Tax

With everyday giving us exciting headlines of the workings of the White House; we wonder if Anthony Scaramucci, the new communications director and his soon to be ex, Deidre Ball have considered how their divorce may affect their taxes. I have no association with either party, but divorces do happen and this might be a […]

Higher medical costs = Fewer Malpractice Claims

Posted on Leave a commentPosted in Colorado Tax and Accounting Consultation, Personal consulting, Personal Finances

Defensive medicine is widely practiced in the United States and bears a direct coorelation to lower malpractice claims. Physcians reporting the practice of  “defensive medicine” — care provided solely to reduce the threat of malpractice liability — have significantly lower malpractice claims. In Massachusetts, for example, greater than 80% of physicians reported practicing defensive medicine, which consists, […]