BY PHIL GOLDSTEIN Managing Partner, Goldstein, Lieberman & Co. Bitcoin has been around for nearly a decade. But the tax rules related to “virtual currency” are still evolving. In fact, some Bitcoin investors may be in for a surprise when they file their 2017 returns. Tax matters will become even more complicated for 2018 returns because […]
BY PHIL GOLDSTEIN Managing Partner, Goldstein, Lieberman & Co. Most 401(k) plans permit hardship withdrawals, though plan sponsors aren’t required to allow them. Currently employees seeking to take money out of their 401(k) accounts are limited to the funds they contributed to the accounts themselves, and only after they’ve first taken a loan from the same […]
BY PHIL GOLDSTEIN Managing Partner, Goldstein, Lieberman and Co. The Tax Cuts and Jobs Act (TCJA) made significant changes to the child credit. This credit is generally available to taxpayers with children under the age of 17, but the new law adds a new (smaller) credit for other dependents. Here are the details. Old Rules – Under […]
BY PHIL GOLDSTEIN Managing Partner, Goldstein, Lieberman & Co. LLC Make sure you take these deductions for 2017 as the new tax law has become the biggest piece of tax reform legislation that’s been enacted since the landmark Tax Reform Act of 1986. It’s expected to have a major impact on individual taxpayers in 2018. […]
BY PHIL GOLDSTEIN Managing Partner Goldstein & Lieberman There are many highly palatable advantages to the 2018 Tax Bill but businesses may find one provision difficult to swallow: the IRS is no longer serving up a 50 percent deduction for “directly related and associated entertainment”. That means there will be no more write offs if […]