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Archive for October, 2011

September 15, 2008.  While this date might not ring a bell for some, what happened on that day certainly holds a place in history that will not be forgotten by most. 

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Some clients try to generate a big income tax deduction by “investing” in tax shelter deals. Forbes Magazine has a good article on this…buyer beware: http://www.forbes.com/sites/jayadkisson/2011/09/24/tis-the-season-for-tax-shelters-fa-la-la-la-la-and-grab-your-wallet/

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HIRE Act of 2010 enacted Code Section 6038D that provided that individuals as well as certain domestic entities with interest in “specified foreign financial assets” must attach a disclosure statement to their tax returns each year if the aggregate value of all such assets is greater than $50,000. Specified financial assets include depository or custodial accounts at [...]

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