A Budget Planning Guide for Condominium and Homeowners' Associations
As community association managers, board members and unit owners are aware, condominium and homeowners’ associations (HOAs) are required by Florida Statutes (FS) and, generally, by the association’s by-laws, to prepare annual budgets. The annual budget requires considerable effort and is, in essence, a financial plan for the upcoming year.
IRS Issues Warning About "Tax Transcripts" Email Scam
The IRS issued a warning about the latest tax scam. Recently, there has been a surge of fraudulent emails impersonating the IRS and using tax transcripts as bait to entice users to open documents containing malware. The scam involves a well-known malware, known as Emotet. Especially problematic for businesses, this malware can spread throughout the networks and potentially take months to successfully remove.
Are You Aware of the Global Intangible Low-taxed Income (“GILTI”) Requirements?
Did you know that starting in 2018, US shareholders face a new US tax on the annual active earnings of certain foreign corporations, whether or not the earnings are distributed? This is known as the tax on Global Intangible Low-taxed Income (“GILTI”), which was enacted as part of the Tax Cuts & Jobs Act of 2017. This article provides an overview and captures what actions should be taken before year end.
The period between filing last year’s tax return and this year’s return is the perfect time to organize your tax records. Granted, it may not be something most taxpayers relish doing. But tackling this now can save headaches later. This article explains the IRS guidelines for tax-record retention, as well as some important exceptions to consider.
MBAF Receives “Pyramid of Excellence” Award from Inside Public Accounting
MBAF is pleased to announce that it was honored with the Pyramid of Excellence award from INSIDE Public Accounting. The rankings for this prestigious accolade are based on data from the 29th annual IPA Survey and Analysis of Firms. MBAF’s consistent recognition by IPA contributed to the firm receiving this recognition, as it was most recently ranked no. 1 on IPA’s elite 50 Best of the Best Firms list.
In Athlon Sports Communications v. Duggan, the Tennessee Supreme Court addressed whether the Delaware Block method was mandated when valuing shares in appraisal rights actions. To determine the appropriate method for determining “fair value, ...
If your estate includes forms of intellectual property (IP), such as patents and copyrights, it’s important to know how to address them in your estate plan. Although these intangible assets can have great value, in many ways they’re treat ...
The laws in most states make a distinction between marital and separate property for purposes of marital dissolution. Marital property is subject to division, while separate property — such as property a spouse owned prior to marriage or received b ...