Tax and Business Alert - May 2016



Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs. Please contact us if you have questions about any of the issues discussed.

JUGGLING FAMILY WEALTH MANAGEMENT IS NO TRICK
Preserving and managing family wealth requires addressing a number of major issues. Juggling these competing demands is no trick. Rather, doing so requires a carefully thought-out family wealth management plan. This article describes many of the foundational aspects of such a strategy. Read more...

DISCLOSURE OF FOREIGN ACCOUNTS: 4 FACTS ABOUT FATCA
The Foreign Account Tax Compliance Act (FATCA) requires certain U.S. taxpayers who have interests in "specified foreign financial assets" to provide information to the IRS. This article offers four facts about FATCA, such as which assets need to be reported and who might be exempt from the law's requirements. Read more...

DON'T FORGET DEPRECIATION BREAKS FOR YOUR COMPANY'S REAL PROPERTY
Business owners hear plenty about depreciation-related tax breaks. But, often, such discussions focus only on the tax benefits of buying assets such as heavy equipment, office furniture and computers. This article offers up a detailed reminder that the Internal Revenue Code also allows depreciation breaks for a company's real property. Read more...

NEED A DO-OVER? AMEND YOUR TAX RETURN
Many taxpayers feel a sense of relief after filing their tax returns. But that feeling can turn sour if, soon after, one realizes that a key detail has been overlooked or additional information that should have been included in the return is received. This brief article covers the process of amending a tax return. Read more...

This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use. The information contained in this newsletter was not intended or written to be used and cannot be used for the purpose of (1) avoiding tax-related penalties prescribed by the Internal Revenue Code or (2) promoting or marketing any tax-related matter addressed herein. © 2016