Protected: Planning and Tax Considerations for Collectibles: Assisting Hobbyists, Dealers, and Investors
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Protected: PFP | Analyzing an Investment Manager’s Proposal
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CPA Journal Fondly Remembers “CPA Giant” and Kostelanetz Counsel Sidney Kess
Following the sad passing of Kostelanetz counsel Sidney Kess in September, the CPA Journal published a remembrance entitled “Loss of a CPA Giant, Mentor, and Friend.” The article looks back on Sid’s remarkable seven decades of work in the accounting and tax law fields, as well as his enduring legacy
Natural Disasters And Tax Consequences: Individuals And Businesses Take Note
By Sidney Kess New York Law Journal April 26, 2023 It seems that natural disasters are occurring more frequently. Both the East Coast and West Coast have recently been devastated by various storms, and some central states have been hit by tornadoes. The IRS has already noted 14 federal disasters
Tax Refunds For Individuals: A Closer Look
By Sidney Kess New York Law Journal March 27, 2023 In February 2023, the IRS reported (https://www.irs.gov/newsroom/filing-season-statistics-for-week-ending-feb-3-2023) that it has issued nearly eight million refunds to individuals with respect to 2022 returns averaging $1,963, down slightly from last year’s average of $2,201. Almost 87% of refunds were made through direct
Tax Penalties To Avoid: Taxes Are High Enough Already
By Sidney Kess New York Law Journal February 22, 2023 Tax penalties can be costly and are not tax deductible. There are more than 150 penalties, some civil and some criminal. According to Table 26 in the IRS Data Book for fiscal year 2021 (//www.irs.gov/pub/irs-pdf/p55b.pdf), the IRS assessed $37.3 billion
Key Changes From SECURE Act 2.0
By Sidney Kess New York Law Journal January 27, 2023 In 2019, the SECURE Act introduced a number of changes to rules for retirement plans and IRAs. Now SECURE Act 2.0, which was included in the Consolidated Appropriations Act, 2023, has more than 90 provisions impacting retirement plans and IRAs.
Tax Identity Theft: What’s Happening And What You Can Do About It
By Sidney Kess New York Law Journal January 5, 2023 Tax identity theft occurs when thieves acquire a taxpayer’s identity to obtain a bogus tax refund or shift tax liability to an innocent taxpayer. The real taxpayer may be unable to e-file a legitimate tax return for the year because
Tax Changes In The Inflation Reduction Act of 2022
By Sidney Kess The CPA Journal November/December 2022 Issue The Inflation Reduction Act of 2022 (IRA; PL 117-169) was signed into law on August 16, 2022. This massive measure, which is intended to tamp down inflation and reduce the federal budget deficit, includes many tax provisions affecting individuals and businesses.
Seven Ways To Decrease Stress At Work
By Sidney Kess and Andrea Millar The CPA Journal November/December 2022 Issue Professionals’ workload seems to get more grueling each year with endless deadlines, changing laws, additional pressures in a COVID environment, and less staff to do the work. CPAs hunker down and tend to put work above all else.
