IRS Issues New Warning About the Latest Tax Scam
The IRS warns that the latest prevalent tax scam is a new spin on stealing a taxpayer’s identity and obtaining a false refund. The perpetrators not only file a false return, they have the refund deposited in the taxpayers own bank account! This article explains what you should do in case you fall prey to the scam.
The Taxation and Accounting Challenges of Cryptocurrency
With the rise in use of cryptocurrencies such as Bitcoin and Ether, it is important to understand the U.S. tax treatment of such for planning and compliance purposes. This article explains how cryptocurrencies are viewed in the eyes of the IRS.
MBAF’s Workplace Culture Shines as Firm is Named a Best Place to Work!
MBAF is extremely proud to be recently ranked a Best Place to Work in the Large Companies Category by the South Florida Business Journal. As a 2018 Best Places to Work honoree, MBAF has established itself as a leader in employee satisfaction. This ranking speaks volumes to the firm’s employee-driven workplace along with its fun and collaborative office culture.
Top Individual Takeaways From the Tax Cuts and Jobs Act
Politicians and pundits alike have been offering their opinions on the implications of the sweeping tax reform legislation. The experts at MBAF have been taking a professional and unbiased approach to analyzing the impact of the new law, and we have produced what we believe to be the most essential “takeaways” from the Tax Cuts and Jobs Act for individuals.
The 10 Takeaways from the Tax Cuts and Jobs Act for Financial Advisors
The Tax Cuts and Jobs Act is now the law of land. While still in its infancy, taxpayers and experts alike are struggling to figure out the many implications of the far-reaching tax reforms. With all the confusion over the changes and whether they may, or may not impact any given taxpayer, who will they turn to but their CPAs or other financial advisors?
Did You Know That Tax Debt Could Limit Your Ability to Travel?
Did you know that the IRS recently issued a notice which declares that “seriously delinquent” tax debt could impede your ability to travel? The agency is now required by law to notify the State Department of taxpayers with seriously delinquent debt. Once the State Department receives such notification, it has the authority to deny a passport, or even revoke an existing passport.
Meals and Entertainment Expenses Dramatically Changed
There are many changes under the new Tax Cuts and Jobs Act. One in particular that business owners need to be aware of is new limitations on the deductibility of meals and entertainment expenses. However, with all the changes, it may not be so clear as to what meals and entertainment expenses qualify as 50% deductible, which are 100% deductible, and which are non-deductible.