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The portability election allows a surviving spouse to apply the deceased spouse's unused lifetime estate tax exclusion amount to their own transfers during life or at death, potentially reducing the amount of the surviving spouse's estate that is subject to estate tax.

Minimize a Surviving Spouse's Estate Tax: The Benefits of the Portability Election The Form 706, also known as the United States Estate (and Generation-Skipping Transfer) Tax Return, is a critical document in estate planning and tax management.

For those who love learning: here's a tax fact from JCC & Associates LLC.

The tax implications of being an equitable owner are significant, as they enable taxpayers to benefit from deductions that would otherwise be unavailable. Understanding equitable ownership and its tax implications can help taxpayers make informed decisions about property ownership and maximize their tax benefits.

Hidden Tax Benefits: How Equitable Ownership Can Maximize Your Mortgage Interest and Tax Deductions Equitable ownership refers to the situation where an individual possesses the benefits and burdens of ownership of a property, even though they do not hold the legal title.

Here are the September 2024 Business Due Dates

September 2024 Business Due Dates

Are you earning money on Twitch or competing in major esports competitions? If so, the tax tips in this guide are for you. Read more now.

Gaming the System: Tax Essentials for Esports Competitors and Streamers

It matters how you get there. Wednesday Wisdom from JCC & Associates LLC

Here are the September 2024 Individual Due Date Reminders

September 2024 Individual Due Dates Here are the September 2024 Individual Due Dates

High-income taxpayers are limited in the annual amount they can contribute to a Roth IRA. However, they can circumvent the income limitations by first making a traditional IRA contribution and then converting it to a Roth IRA. Caution: serious pitfalls associated with this maneuver can result in unexpected taxable income.

Surprising Tax Impact of Converting Your Traditional IRA to a Roth IRA Taxpayers are limited in the annual amount they can contribute to a Roth IRA.

JCC & Associates LLC has the motivation you need to get going this Monday.

Artists, writers, and designers can deduct marketing and promotion expenses like website hosting, advertising, and portfolio development.

Your Friday tax fact from Upper Marlboro based JCC & Associates LLC.

Should tips be tax-free? Trump and Harris both think so. Discover how recent proposals could change tipping culture forever.

Should Tips Be Tax-Free? How Recent Proposals Could Change the Way You Tip

In an increasingly globalized economy, foreign business travel has become a staple for many companies seeking to expand their reach, forge new partnerships, and stay competitive. However, the financial implications of such travel, particularly in light of tax considerations, can be complex.

Jet Set and Tax Savvy: Navigating Taxes for the Global Traveler In an increasingly globalized economy, foreign business travel has become a staple for many companies seeking to expand their reach, forge new partnerships, and stay competitive.

This comprehensive guide will walk you through the essential steps to launch your business successfully. Learn how.

The Ultimate Guide to Starting Your Own Business: A Step-by-Step Blueprint for Young Entrepreneurs

Tap into your full potential. Wednesday Wisdom from JCC & Associates LLC

Making the wrong hire can be costly and time-consuming, impacting your business in several ways. Learn more.

Best Practices for Hiring: Red Flags to Watch Out For

The Corporate Transparency Act (CTA), enacted as part of the Defense Authorization Act for Fiscal Year 2021, represents a significant legislative effort to enhance corporate transparency and combat illicit financial activities in the United States. The CTA has also given rise to various scams targeting businesses and individuals.

Beware of Scams Targeting Corporate Transparency Act Reporting Requirements! The Corporate Transparency Act (CTA), enacted as part of the Defense Authorization Act for Fiscal Year 2021, represents a significant legislative effort to enhance corporate transparency and combat illicit financial activities in the United States.

This article will explore the tax implications, the impact of after-tax dollars, and current market conditions to help you determine if buying a home is the right move for you. Read on.

When Renting No Longer Makes Sense: A Financial Perspective

It's go time! Upper Marlboro based JCC & Associates LLC has some motivation for you today.

Tech startups can leverage the R&D tax credit for valuable incentives on research and development investments. Let us help you get started.

The IRS has announced a second Employee Retention Credit Voluntary Disclosure Program. Deadline to participate is November 22, 2024.

IRS Offers Second Chance to Resolve Employee Retention Credit Claims with New Voluntary Disclosure Program! The Internal Revenue Service (IRS) has introduced a second Employee Retention Credit (ERC) Voluntary Disclosure Program as outlined in Announcement 2024-30.

Federal officials have arrested and charged "The Magician" behind the largest tax fraud scheme in U.S. history. Full details here.

"The Magician" Behind a $100 Million Tax Fraud Scheme Finally Exposed Federal officials have arrested and charged “The Magician” behind the largest tax fraud scheme in U.S. history. Full details here.

Learn about taxes from your friends at Upper Marlboro based JCC & Associates LLC.

The installment sales method is a significant tool for taxpayers selling a rental property at a gain, offering a way to spread tax liability over the period in which the sale proceeds are received. This method, while beneficial in many scenarios, comes with its complexities and considerations, especially when dealing with rental properties.

Unlock Cash Flow and Profits: The Power of Installment Sales when Selling Your Rental The installment sales method is a significant tool for taxpayers selling a rental property at a gain, offering a way to spread tax liability over the period in which the sale proceeds are received.

"Stand by your man" takes on new meaning in the tales of Ruth Madoff, Eleanor Daugerdas, Mae Capone, and more. Learn the high cost of financial crimes.

‘Only the Little People Pay Taxes': The Cost of Standing by Notorious Men August 13, 2024 ‘Only the Little People Pay Taxes’: The Cost of Standing by Notorious Men Found In: Tax Problems Tax Problems Behind many a high-profile financial scandal, there lies a spouse who faces both public scrutiny and also legal challenges of their own. Women like Ruth Madoff and Eleano...

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