BT Team

It is imperative that an investor comprehend the deductibility of interest paid on portfolio loans before taking action in any investment opportunity. Investors who do not fully understand the tax law could potentially create a tax bill substantially higher than expected. Interest expense from portfolio loans raise many questions in this area.

The recent statistics on employee theft is shocking. According to one US source, 75% of employees admit to having stolen at least once from their employer—and employee theft costs a company on average 7% of their annual revenues each year.

With some of the most dramatic changes in US taxation in over 30 years forthcoming, individuals
and businesses should take time to reassess their tax planning for 2017 and future years to
determine how they will be affected.

On September 19, 2017, the Internal Revenue Service extended disaster relief for taxpayers affected by Hurricane Irma to all 159 counties in the state of Georgia. The announcement was issued shortly after the President declared a state of emergency in Georgia and authorized federal relief efforts.

Congress recently enacted significant changes to partnerships’ income tax audits. These new protocols will dramatically change the Internal Revenue Service (“IRS”) partnership audit process and, quite possibly, both the amount of tax liability paid on audit adjustments and the partners who will bear the economic consequence of that tax liability.