Sean Snowden, MBA, CVA, is the Managing Member and Director – Business Valuation Services at W&D Consulting LLC, an affiliate of W&D which specializes in business valuations services for clients in a wide range of industries and market niches.
The mortgage interest deduction is widely used by the majority of individuals who itemize their deductions. In fact, the size of the average mortgage interest deduction alone persuades...
Congress returns to work in September with a full agenda of tax legislation. Lawmakers will search for revenue to pay for a long-term federal highway and transportation bill, debate the fate of popular but temporary tax breaks, and decide on a funding level for the IRS.
The Supreme Court’s decision in Obergefell v. Hodges (2015-1 ustc ¶50,357) on June 26, 2015 continues what was set in motion in 2013: the expansion of tax benefits to same-sex married couples. In Obergefell, the Court ruled 5 to 4 that the Fourteenth Amendment requires a state to license a marriage between two people of the same sex. The Court further held that states must recognize a marriage between two people of the same sex when a marriage was lawfully licensed and performed out of state.
After months of waiting, the U.S. Supreme Court announced its decision on the fate of the Code Sec. 36B premium assistance tax credit on June 25 in King v. Burwell, 2015-1 ustc ¶50,356. In a 6 to 3 decision, the Court held that enrollees in both federally-facilitated Marketplaces and state-run Marketplaces can claim the credit, which helps offset the cost of health insurance. The decision leaves in place the current IRS regulations on the credit and the regime for administering and claiming the credit.
In addition to his 40 years of experience in a broad range of public accounting, financial and tax services, Warady & Davis LLP Partner, Ron Zweig, CPA, RIA, has a successful, respected investment advisory practice, R S Zweig Financial Advisors LLC.
Late in 2014, Congress passed and President Obama signed into the law the Achieving a Better Life Experience (ABLE) Act. The new law, which enjoyed strong bipartisan support, authorizes...
It is never too early to begin planning for the 2016 filing season. Although the current filing season has just ended, there are steps that taxpayers can take now to avoid a tax bill when...
Congress returned to work in April after a two week recess and the House immediately passed a slew of tax-related bills. In rapid succession, House lawmakers voted to repeal the federal...