IC-DISC Tax Savings on Export Goods or Services

October 1, 2018By Evelyn Fernandez

Below is a preview of one of the articles in the new issue, “IC-DISC Tax Savings on Export Goods or Services” by Evelyn Fernandez, CPA, MST: Interest‐Charge Domestic International Sales Corporation (IC‐DISC) is quite a mouthful, which may be a reason why most people don’t know about this tax incentive. Thousands of businesses are not … Read More

Reporting Foreign Accounts

February 6, 2018By Evelyn Fernandez

Nowadays, it is not uncommon for taxpayers to have bank accounts and investments held in different countries. While there is nothing wrong with this, it is important to make sure you are in compliance with US tax filings with respect to foreign accounts and investments in order to avoid getting hit with penalties. There are … Read More

How You Can Save on 2017 Taxes Before the End of the Year

November 29, 2017By Evelyn Fernandez

If you’re looking ahead to the tax season in early 2018, it’s not too late to maximize your tax deductions. There are some excellent strategies that you can implement today that will pay dividends come tax return time. Plan ahead for these deadlines, and ensure that you get every deduction that you can. Donate to … Read More

Qualified Restaurant Property and Depreciation

January 16, 2016By Evelyn Fernandez

Buildings and building improvements that are “qualified restaurant property” are eligible for favorable tax treatment that doesn’t apply to most other buildings or building improvements. On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). One of the provisions in the PATH Act was to make … Read More