Scott Vance
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Articles by Scott Vance
Next IRS Chief Counsel Will Benefit By Making Staff A Priority
Skadden Arps Slate Meagher & Flom are most popular: within Privacy, International Law and Consumer Protection topic(s) in United States with readers working within the Automotive and Environment & Waste Management industries The role of IRS chief counsel isn’t a simple one. When a new person takes the helm, it brings a renewed focus on the responsibilities of the position.
Next IRS Chief Counsel Will Benefit by Making Staff a Priority Original
The role of IRS chief counsel isn’t a simple one. When a new person takes the helm, it brings a renewed focus on the responsibilities of the position. The nomination of Jim Gadwood is before the US Senate, and whether we are talking about him or someone else in the future, the IRS chief counsel should be open to accepting input from key personnel, and use that input to make clear decisions and navigate appropriate solutions for guidance and tax controversy.
Claim business expenses when filing tax
@Joe Au No you certainly do not need to have an LLC in order to claim business expenses, you simply must be operating as a business. If you haven't formed a business entity you would be a sole proprietor. Let me know if you have other questions.
Liberalism and the Morality of War
Don’t get it twisted, in terms of the progressive silence on the new Cold War. For nearly a century, commentators have closely associated liberalism with progressivism. For instance, in a 1931 piece in The New Republic, Edmund Wilson identifies the latter as that which “which has generally become known as liberalism” to contemporaries.
6. Having the Talk on Apple Podcasts
37 min When’s the last time you sat your parents down and talked to them about their money? If you’re like most people, it probably hasn’t happened yet and you probably have no plan for it to happen in the near future. Talking to your parents about their savings, their will, their hopes for what happens when they get older or after they die is unpleasant but as today’s guest shares is vitally important.
Depreciation's Tax Break Has Consequences for Real Estate Investors
Real estate investing provides many tax benefits, and depreciation is one of the biggest. It's also one of the more misunderstood. Depreciation lets you deduct a portion of the cost of the investment each year for the length of its IRS-designated life span. The depreciation computation is figured based on the value of the improvements, not on the land underneath the improvements. This necessitates that you be able to determine the value of the land and the value of the improvements.
Depreciation Tax Break Has Real Estate Consequences
Property owners may love the tax deduction now, but when they sell, the IRS may come knocking for what is due through "depreciation recapture." Here's how that works. Real estate investing provides many tax benefits, and depreciation is one of the biggest. It’s also one of the more misunderstood. Depreciation lets you deduct a portion of the cost of the investment each year for the length of its IRS-designated life span.
Where to Save Your Child's College Fund
Depending on the type of account you use, you can score some good tax advantages on top of your savings. Now that I've convinced you to start saving for your kid's college education as soon as possible, your first question must be: Where? You have a number of options, each with a unique set of advantages and disadvantages. Here are your best bets: This state-sponsored account is available to anyone, regardless of income levels, and mostly come with high contribution limits, up to $300,000 a year.
The Best Time to Start Saving for Your Child's College Education
It's right now. Here's why. Imagine dropping your kid off at college for the first time. It's bound to be an emotional day for everyone—just ask any parent who has already done it. Now imagine that same day, and add worrying about whether you can afford all the costs that come with higher education. According to the College Board, in the 2015-16 school year, the average cost for tuition and fees at a public four-year college for an in-state student was $9,410.
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