The Tax Lawyer Blog: Topical thinking from the lawyers at Moskowitz, LLP

Consult Now With Your Tax Attorney If You Have Businesses or Rental Properties

Posted on February 27, 2019April 25, 2019 by Moskowitz LLP Tax Planning & Compliance,

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...

Why You Should Amend Your Partnership and LLC Agreements Now

Posted on February 27, 2019April 25, 2019 by Moskowitz LLP Tax Planning & Compliance,

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...

Fell a little short on your estimated tax payments? No worries!

Posted on February 6, 2019April 25, 2019 by Moskowitz LLP Tax Planning & Compliance, Tax Services,

On January 16, 2019, the IRS announced that it will be waiving the tax underpayment penalty for those who fell short on their 2018 estimated tax payments. The federal tax underpayment tax penalty is usually waived for taxpayers who paid at least 90% of their tax liability during the year...

March and April Tax Deadlines To Look Out For

Posted on January 30, 2019April 25, 2019 by Moskowitz LLP Tax Planning & Compliance,

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...

Leaving California and the Franchise Tax Board Behind: A Little Q&A on California Exit Planning

Posted on January 29, 2019April 25, 2019 by Moskowitz LLP State & Local Taxation, Tax Planning & Compliance,

Individuals and businesses alike are leaving California to take advantage of lower taxes, lower labor costs, more affordable living, and less stringent regulations elsewhere. If you are part of this exodus, it is important to plan your move carefully so that the State of California has no reason to continue...

Tax Information Deadlines

Posted on January 15, 2019April 25, 2019 by Moskowitz LLP State & Local Taxation, Tax Planning & Compliance,

Deadline: January 31, 2019 Form 1040-ES: Estimated Tax Payment (4th Quarter 2018) If you don’t pay your income tax obligations through withholding because you are self-employed or are otherwise required to pay quarterly estimated taxes, be sure to postmark your fourth payment before the January 16th deadline. If you file...

2018 Tax Prep and Organizer Resources

Posted on January 15, 2019April 25, 2019 by Moskowitz LLP Estate Planning & Taxation, State & Local Taxation, Tax Planning & Compliance,

Our attorneys and accountants have extensive experience preparing tax returns and other reports to federal, state and other taxing agencies. The firm handles both routine and complex tax filings at the federal, state and local levels. We prepare the full range of returns, including individual income tax returns,corporate tax returns,...

The State of California Hits “Rock Bottom”

Posted on January 8, 2019April 25, 2019 by Moskowitz LLP State & Local Taxation, Tax Planning & Compliance,

This past June, Michael Steven Rock of “Rock Bottom Beds,” a furniture store in Roseville, California, was sentenced to one year in jail followed by five years’ probation for sales tax evasion and filing a false state income tax return. From July 2008 through June 20012, Mr. Rock had collected...

Opportunity Zones, Part IV: How to Take Advantage of the Tax Benefits of Opportunity Zone Investment

Posted on December 27, 2018October 13, 2020 by Moskowitz LLP State & Local Taxation, Tax Planning & Compliance,

Other Posts in this Series Part I: New Opportunity To Save Taxes While Doing Good Part II: The Tax Benefits of Opportunity Zone Investment Part III: Opportunity Zone Investment Rules Steps to ensuring that you receive the tax benefits of your opportunity zone investment. In Parts I, II, and III,...

Opportunity Zones, Part III: Opportunity Zone Investment Rules

Posted on December 26, 2018October 13, 2020 by Moskowitz LLP State & Local Taxation, Tax Planning & Compliance,

Other Posts in this Series Part I: New Opportunity To Save Taxes While Doing Good Part II: The Tax Benefits of Opportunity Zone Investment Part IV: How to Take Advangage of the Tax Benefits of Opportunity Zone Investment The longer you hold qualified opportunity zone property, the greater the tax...

Opportunity Zones, Part II: The Tax Benefits of Opportunity Zone Investment

Posted on December 24, 2018October 13, 2020 by Moskowitz LLP State & Local Taxation, Tax Planning & Compliance,

Other Posts in this Series Part I: New Opportunity To Save Taxes While Doing Good Part III: Opportunity Zone Investment Rules Part IV: How to Take Advangage of the Tax Benefits of Opportunity Zone Investment The longer you hold qualified opportunity zone property, the greater the tax benefit. Opportunity Zones...

Opportunity Zones, Part I: New Opportunity to Save Taxes While Doing Good

Posted on December 20, 2018October 13, 2020 by Moskowitz LLP State & Local Taxation, Tax Planning & Compliance,

Other Posts in this Series Part II: The Tax Benefits of Opportunity Zone Investment Part III: Opportunity Zone Investment Rules Part IV: How to Take Advangage of the Tax Benefits of Opportunity Zone Investment The new tax law provides a tax incentive for investments in “Opportunity Zones” in order to...

IRS Issues New Guidance on Voluntary Disclosures

Posted on December 20, 2018November 25, 2020 by Moskowitz LLP Estate Planning & Taxation, Tax Planning & Compliance,

With the end of the Offshore Voluntary Disclosure Program (OVDP), the IRS has provided new guidance for taxpayers facing charges of tax evasion to come into compliance with their reporting requirements and avoid criminal prosecution. On November 20, 2018, the Treasury Department issued new guidance for U.S. taxpayers who have...

Tax Lawyer Blog

How can we help you today?