Hopefully You’re on The Other Side of This

Cancellation of Debt (forgiveness) The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude up to $2 million of forgiven debt ($1 million if married filing separately) from the discharge of debt on their principal residence through foreclosure, restructuring, or short sale, thorough December 31, 2016. Tax Tip: If you are in such an […]

Timing Is Helpful When Selling Investments

Capital Gains Tax   Capital Gains and Dividends tax rates increased from 15% to 20% for taxpayers with taxable income in excess of the thresholds mentioned above ($400,000 for single filing status, etc). Net capital gains from selling collectibles such as coins or art are taxed at a maximum 28% rate. The rate will remain […]

Timing The Sale On Lossing Stocks

Timing The Sale On Lossing Stocks       Wash Sale Rule   Under the “wash sale” rule that applies to the disposition of an asset when a loss is recognized,the IRS doesn’t permit taxpayers deduct the loss if they repurchase the same or identical investment during the 30 ­day period before or after the sale date. Section […]

What Is A Breakthrough Session?

CXO COLLECTIVE™ BREAKTHROUGH SESSIONS (BTS) Our Common Interest is Your Success- Business executives across the globe face any number of common challenges regardless of the product or service provided. Obstacles to success may include, but are not limited to: personnel conflicts, cash flow, stagnating revenue, missed growth opportunities, executive transitions, succession planning, declining or stalled […]

Cost Segregation Benefits

What is Cost Segregation? Investors who own commercial and residential rental properties are allowed a cost recovery known as depreciation. Depreciation allows a taxpayer to recover the cost of an asset over the period of time or useful life the asset is expected to be able to produce income. The Internal Revenue Code (IRC) defines depreciation as a […]

831 (b) Captive Insurance Companies

What is a captive insurance company? A captive insurance company (CIC) is a licensed insurance company formed to write policies for a related entity or group. A small captive has annual income exclusions up to $1.2 million under the IRS code section 831(b). IRS code section 831 (b) Benefits • Annual premiums received by a […]