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Federal Tax Update – May 2018

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INDIVIDUALS In Voigt v. Commissioner, TC Summary Opinion 2018-25, the Tax Court agreed with IRS that an individual who was laid off from Tulane University and received tuition waivers for his children as part of his severance package was properly taxed on the value of the benefit as the general exclusion for undergraduate education of […]

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What is an Extended Reporting Period and Why is it Important?

Why Not Hire

Many of you are already aware that your Professional Liability Policy through the American Academy of Attorney-CPAs is a Claims-Made Policy. The claims-made policy provides cost advantages but also allows you to insure the risks resulting from past services under your present policy. If we don’t see cancellations or lapses in coverage, we can approve Retroactive […]

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Federal Tax Update – April 2018

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INDIVIDUALS In Hatcher v. Commissioner, 121 AFTR2d 2018-1397, the Fifth Circuit Court of Appeals agreed with the Tax Court that an individual who lent her then boyfriend in excess of $582,000 was not in the business of lending and could only claim a capital loss when only $7,000 of it was repaid. In Davidson v. […]

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Member Spotlight: Michael W. Hoffman

Member Spotlight

Michael Hoffman is the founding and managing partner (member) of Hoffman & Associates, and oversees the general operations and personnel of the legal and tax sections of the Firm.  Mike works primarily in the areas of estate planning, to minimize the effect of the estate tax, insure orderly transition of generations in family businesses, and […]

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Member Spotlight: Judy Vorndran

Member Spotlight

As a dually-licensed CPA and lawyer, Judy Vorndran leads the state and local tax practice at TaxOps and is the President of the AAA-CPA Colorado Chapter. She is also a member of the Governor’s taskforce to simplify Colorado sales tax, which puts her at the table with lawmakers who, like Judy, are advocating for change […]

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Member Spotlight: Daniel J. Hoffman

Member Spotlight

Dan was born and raised in South Bend, Indiana. He earned a bachelor’s degree in accounting from Indiana University at Bloomington in 1980, attended Notre Dame Law School as a visiting student, and obtained his Juris Doctorate from DePaul University in Chicago in 1986. Dan has served as an audit and tax accountant for Price […]

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Federal Tax Update – March 2018

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INDIVIDUALS In Spireas v. Commissioner, 121 AFTR2d 2018-________, the Third Circuit Court of Appeals agreed with the Tax Court that royalties paid to the inventor on a technology license agreement were ordinary income and not capital gain inasmuch as the inventor had not transferred all of his rights away – as to the technology in […]

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Member Spotlight: Jason B. Freeman

Member Spotlight

Mr. Freeman, a dual-credentialed attorney-CPA, author, law professor, and trial attorney, is the founding and managing member of Freeman Law, PLLC with a principal office in Frisco, Texas. He represents clients in litigation and disputes, with a particular focus on federal and state tax controversies, as well as white-collar and financial disputes, both civil and […]

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Federal Tax Update – February 2018

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INDIVIDUALS PL 115-123, the Bipartisan Budget Act of 2018: Extends through 2017 the exclusion on discharge of acquisition indebtedness on principal residences, the treatment of mortgage insurance premiums as qualified residence interest, the “above the line” deduction for qualified tuition and related expenses and the credit for nonbusiness energy property. Suspends the adjusted gross income […]

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Member Spotlight – Karen J. Tenenbaum

Member Spotlight

An attorney for 30 years, Karen founded Tenenbaum Law, P.C., providing legal counsel to individuals and businesses facing IRS and New York State tax problems. Karen and her team have successfully represented clients in matters including Federal and State Audits, IRS Appeals and NYS Conciliation Conferences, Federal and NYS Collection Issues, including Liens, Levies, Warrants and Seizures, […]

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