Whether your business is the law, or a business with accounting or asset protection needs, our business has been “Solving clients’ problems" since 1977.

Blog

When A Loan Triggers A Tax Debt

  • 19 March 2019
  • Author: Cari Holbrook
  • Number of views: 41
  • 0 Comments
When A Loan Triggers A Tax Debt

Funds received as proceeds of a loan aren’t taxable as long as you’re expected to pay it back. However, the moment some or all of the debt is forgiven (and doesn’t need to be paid back), the IRS will jump in and want its cut. 


Unlucky Tax Strategies That Don't Work

  • 12 March 2019
  • Author: Cari Holbrook
  • Number of views: 62
  • 0 Comments
Unlucky Tax Strategies That Don't Work
Have you ever heard about a tax strategy you thought was so crazy, it just might work? Here’s what we can tell you: If it’s illegal, the IRS has seen it before, and it’s only a matter of time before they catch on.

Plaintiffs and Attorneys, Take Note: Personal Settlements Are Now Taxed 100%

  • 24 April 2018
  • Author: Alexander Carr
  • Number of views: 646
  • 0 Comments
Plaintiffs and Attorneys, Take Note: Personal Settlements Are Now Taxed 100%
Lawsuit settlements just became more profitable…for the IRS. Under the new tax code

, most personal claims are now taxed at 100% with no deduction for legal fees. That’s right: In those cases, the plaintiff will be taxed on the fees paid to the attorney and so will the attorney who receives them!

New Tax Rules Affect How You Attract Top Attorneys with Creative Perks

  • 23 January 2018
  • Author: Alexander Carr
  • Number of views: 829
  • 0 Comments
New Tax Rules Affect How You Attract Top Attorneys with Creative Perks
A recent law firm salary study reveals associate salaries and base pay are increasing in 2018

, along with perks like signing bonuses, relocation reimbursement and other benefits. Even perks like pet insurance and emergency child care—which you may be completely unfamiliar with—are on the list of non-traditional benefits that win big with top legal talent.

Law Firm Partnership Audits Are About to Change

  • 28 September 2017
  • Author: Alexander Carr
  • Number of views: 2376
  • 0 Comments
Law Firm Partnership Audits Are About to Change

An entirely new centralized partnership audit regime has finally replaced 1982’s TEFRA partnership procedures when it comes to partnership audits. The new rules, which are part of the Bipartisan Budget Act of 2015 (BBA), apply to partnership tax years beginning January 1, 2018. Partnerships can elect to apply them to returns dated as early as November 2, 2015.

Hulk Hogan's Litigation Financing Lessons

Hulk Hogan's Litigation Financing Lessons

In April, we introduced the growing trend of third-party litigation financing to help offset the cost of litigation. Since then a specific case has catapulted the idea into the mainstream. The Wall Street Journal recently reported that Peter Thiel, founding investor in PayPal and Facebook, has provided about $10 million to support pro-wrestler Hulk Hogan in an invasion-of-privacy lawsuit against Gawker Media

Per Diem Travel: Myths You Shouldn't Believe

  • 12 April 2016
  • Author: Cari Holbrook
  • Number of views: 2326
  • 0 Comments
Per Diem Travel:  Myths You Shouldn't Believe

As we head into business conference season, now is a great time to review the rules concerning business travel expenses. Using a per diem rate to reimburse business travel is often misunderstood. Typically, the record keeping is simpler under this method as the federal government has established fixed reimbursement amounts per day for business travel that cover lodging, meals and incidentals.

Is Private Equity an Answer to Cash Woes?

  • 15 March 2016
  • Author: Cari Holbrook
  • Number of views: 2449
  • 0 Comments
Is Private Equity an Answer to Cash Woes?
Private equity is a term that’s thrown around the business world, especially among startup companies. It can be a great way for businesses to get a much-needed infusion of cash.  And you don’t need to be a young, hip startup to consider it as a viable option.

Top 2016 Tax Deduction Changes for Business Owners

  • 9 February 2016
  • Author: Cari Holbrook
  • Number of views: 2110
  • 0 Comments
Top 2016 Tax Deduction Changes for Business Owners

As usual, Congress’ procrastination resulted in some last-minute legislation. Here’s a summary of the top tax changes that will affect business owners in 2016:

Foreign Assets? Working Abroad? The IRS Still Wants Your Money

  • 26 January 2016
  • Author: Cari Holbrook
  • Number of views: 2140
  • 0 Comments
Foreign Assets?  Working Abroad?  The IRS Still Wants Your Money

More than 3,000 Americans each year give up their U.S. passports in order to work abroad. Why? It’s not because they don’t love America. It’s because tax complications make it too hard to work abroad while staying loyal to Uncle Sam. In fact, the U.S. is known to have the most onerous tax laws for citizens working abroad of any developed country in the world.

RSS
123456

Expertise

When you hire Steven Bankler and his team of certified public accountants, you get seasoned, knowledgeable CPAs.

The IAPA International LogoRather than experienced bookkeepers, promising CPAs-in-training or studious interns in the process of completing their accounting degrees, you get professional CPAs. We Solve Problems. We provide creative solutions to our clients’ unique problems including tax and estate planning, forensic accounting, expert witness and litigation support.

Testimonials

Curriculum Vitae

Quoted Opinions

Newsletter Signup

First Name:
Last Name:
E-Mail: