by receptionist@theKFORDgroup.com | Aug 15, 2023 | Newsletters
We want to bring to your attention an important announcement from the IRS regarding revenue officer visits. Effective immediately, the IRS has decided to discontinue most unannounced visits to taxpayers, except in a few unique circumstances. Instead, revenue officers...
by receptionist@theKFORDgroup.com | Aug 1, 2023 | Newsletters
Financial experts use a variety of methods and inputs when valuing a business. So, it’s common for two experts working in good faith to reach different conclusions. In such situations, litigating parties must find a way to resolve their differences. This is where...
by receptionist@theKFORDgroup.com | Jul 18, 2023 | Newsletters
Many revenue-generated activities are considered a trade or business but there is some confusion when it comes to hobbies with revenue. Being a trade or business allows certain tax deductions to be taken, filing requirements to report income earned and paying taxes. ...
by receptionist@theKFORDgroup.com | Jun 6, 2023 | Newsletters
Your clients’ elation over receiving healthy settlement amounts for their claims can quickly turn sour when they realize the tax implications. Two rulings from the U.S. Tax Court — one involving an employment case and the other involving legal malpractice — serve as...
by receptionist@theKFORDgroup.com | May 16, 2023 | Newsletters
The IRS is reminding taxpayers of certain energy efficient updates to their homes could qualify them for home energy tax credits. Taxpayers can claim the Energy Efficient Home Improvement Credit and the Residential Clean Energy Credit by making qualifying...
by receptionist@theKFORDgroup.com | May 2, 2023 | Newsletters
The handling of goodwill in divorce cases varies depending on the jurisdiction and case facts. And a court may sometimes consider cases in other states when there’s limited legal precedent in its jurisdiction. In many states, the amount of “enterprise goodwill” in a...