Ashley Maxfield on LinkedIn: #ptet #taxupdates #california (2024)

A recent U.S. Court of Federal Claims decision in Ju v. United States highlights the importance of proper documentation for IRC Sec. 1202. The taxpayer was ruled ineligible to exclude gains from the sale of qualified small business stock (QSBS) due to unmet requirements. Read more in this EisnerAmper article: https://okt.to/HTpmc2 #qsbs #tax

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Make sure your QSBS capital gains treatment is secure. With increased IRS scrutiny, maintaining proper records is crucial. Learn more about protecting your QSBS benefits. https://okt.to/crtZBf #QSBS

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Current economic conditions, including high inflation, rising interest rates, growing vacancy rates, and slower rental growth, are increasing the number of distressed properties in the real estate market. When debt servicing becomes unviable or property values fall below the remaining debt balance, owners face tough choices. https://okt.to/NZdF47 #realestateowners #inflation #interestrates #taxrealestate

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Recently, the IRS indicated it will continue to focus on enforcement efforts in an attempt to claw back what could be billions of dollars of erroneously claimed ERC refunds. Here’s what you need to know: https://okt.to/WfXwev #ERC #TaxCredits #IRS

Since the COVID-19 pandemic, community health centers have struggled to attract and retain talent due to low compensation, staffing shortages, and burnout. These issues impact primary care providers and other crucial roles, leading to wage increases. This article explores recent compensation challenges and trends. https://okt.to/sRQJji #Healthcare #CommunityHealth #StaffingChallenges #HealthcareWorkers

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Estate planners are reassessing trust strategies as the Tax Cuts and Jobs Act provisions near expiration. Financial Advisor Magazine featured Pamela Dennett CPA, CFP®, a partner in Private Client Services at EisnerAmper, highlighting that “a revocable living trust is not of public record, which could limit potential lawsuits during probate.” Continue reading here: https://okt.to/ls4Iyd #EstatePlanning #Trusts #TaxPlanning #FinancialAdvisors #FinancialAdvisorMagazine

The IRS has initiated a compliance campaign targeting partnership losses in the Sports Industry. The goal is to verify the tax treatment of significant losses reported by sports industry partnerships. Read more here: https://okt.to/eGLtBC #tax #sportsindustry #compliance

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The IRS has released a draft of the new Form 1099-DA, for reporting digital asset broker transactions, effective April 18, 2024. This follows the 2021 addition of broker reporting requirements to the Internal Revenue Code. For more details, read here: https://okt.to/BUaArL #tax #digitalassets #digitalcurrency #broker #reporting

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As we approach 2025, high-net-worth individuals and families need to pay close attention to their financial strategies. The 2017 Tax Cuts and Jobs Act (“TCJA”) brought significant changes to the tax code. However, many of these changes are set to expire on December 31, 2025. Here’s what you need to know. https://okt.to/OSYT6g #EstatePlanning #FinancialPlanning #TaxStrategy #WealthManagement

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