Category: Tax Planning & Compliance

The IRS’ efforts to identify abusive tax schemes is now being bolstered by the use of AI. Most people don’t realize the extent to which artificial intelligence (AI) is utilized in our daily lives. Even those of us without Alexa devices and “Smart Homes” are using AI – in our...

A Health Savings Account (HSA) provide tax savings and flexibility for individuals with high-deductible health plans, but they are not without their challenges. Health Savings Accounts (HSAs) were introduced to replace medical savings accounts as part of the Prescription Drug, Improvement, and Medicare Modernization Act of 2003. At the end...

The aggregation rules are one of the best features of the new tax law (TCJA 2017). These rules allow taxpayers to combine their trades or businesses, if they meet certain requirements, and treat them as a single trade or business for purposes of the section 199A calculation. This can result...

Congress recently enacted significant changes to partnership audit and adjustment rules, dramatically increasing the audit rates for partnerships and will require partners to carefully review, if not revise, their partnership’s operating agreement. The new rules generally apply to partnership returns filed after 2018, and careful planning today will help mitigate...

Got your 2018 tax documents in the mail? Now is the time to have your individual and business tax returns prepared by Moskowitz LLP. With our new streamlined process, you’ll find that having your tax returned prepared by a tax professional is easier and faster than ever. Get started now...