Due Diligence Requirements

As your tax professional, we may be asking you additional questions next year that are required by the Tax Cuts and Jobs Act. Tax preparers must collect new information from clients who qualify for any of the following tax credits: Earned Income Tax Credit (EIC) Child Tax

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Could You Save on Taxes with a QOZ Investment?

The Tax Cuts and Jobs Act created a new tax incentive to defer (and possibly even eliminate) capital gains taxes by investing in a Qualified Opportunity Zone (QOZ). What is a Qualified Opportunity Zone? A Qualified Opportunity Zone is an economically distressed community. For an area to

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Do You Have Foreign Assets or Bank Accounts?

If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, exceeding certain thresholds, the Bank Secrecy Act may require you to report the account yearly to

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Tax Scams – Protect Yourself

There are many tax scams out there with the purpose of stealing your identity, stealing your money, or filing fraudulent tax returns using your private information. Tax scammers work year-round, not just during tax season, and target virtually everyone. Stay alert to the ways criminals pose as

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