Author: admin_falco

Tax Topics to Consider When Selling Your Home

Selling a home is a big decision. You leave a community you’ve grown to know and love, uproot yourself and your family, and head towards new horizons.…

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Important Considerations for Shareholders of S Corporations Undergoing Significant Ownership Changes

Many business owners are not aware of elections available to existing S corporations with significant ownership changes occurring in a given tax year, specifically the Internal Revenue…

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New Schedules K-2 and K-3: Enhanced Reporting of Foreign Information

Schedules K-2 and K-3 will be a major change to partnership and S corporation reporting starting in 2021 and will be required for 2022 and future years.…

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The Taxation of Collectibles: What Collectors Need to Know

A 1979 Wayne Gretzky rookie card sold for $1.79 million in December, while a Mickey Mantle rookie card brought in $5.2 million. Online collectible sales exploded. U.S.…

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IRS Online Tools and Account Creation

With a shrinking IRS workforce, getting in contact with IRS agents is becoming increasingly difficult. The more traditional methods of communicating with the IRS – by phone…

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