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Partnerships – New IRS form for property distributed in 2024, plus bonus on special transactions

The IRS has been putting more focus on partnerships in recent times. Back in June 2024, the IRS released a statement were the Agency would put more focus on "high-income compliance issues" and "... to combat abusive partnership transactions" which mainly related to basis shifting transactions. Then, the IRS targeted specifically three groups: " Transfer

By |2024-10-24T03:04:05+00:00October 29th, 2024|Categories: Business, Individuals|Tags: , , , , , , , , |
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Are you maximizing your 401k or 403b retirement contributions?

One of the best advice is to contribute to your private retirement as the contribution is a tax deduction (lower taxable income in your w2) and then, it will be taxed at the distribution time in the case of traditional retirement plans. This is extremely relevant as social security payments are expected to be partial

By |2024-06-28T03:16:08+00:00August 5th, 2024|Categories: Business, Individuals|Tags: , , , , , , , |
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