Business Consultants

When a U.S. citizen marries someone from another country who is not a U.S. citizen, there are some special tax filing issues you will have to deal with. Based on your particular situation, the filing issues could be very complicated or straightforward. But in either case, someone knowledgeable about issues related to non-U.S. citizens should complete the preparation of your return.

If you are an employer with fewer than 50 full-time employees, full-time equivalent employees, or both, you are not subject to the requirement to offer affordable health care insurance to your full-time employees. However, if you do offer the insurance you may qualify for the small business health care tax credit.

Taxpayers concerned about outliving their retirement income and those who, for one reason or another, desire to minimize their required minimum IRA distributions may wish to consider investing a portion of their account in a qualified longevity annuity contract (QLAC). IRS regulations generally allow taxpayers to use up to $125,000 or 25% of their retirement account (whichever is lower) to purchase a QLAC.

When an individual makes a business trip outside of the U.S. and the trip is 100% devoted to business, all of the business-related travel expenses are deductible. However, if a vacation is incorporated into that trip, some complicated rules come into play that can significantly impact the tax deductions for travel expenses.

If you have lost your job, there are a number of tax issues that you may encounter. They include severance pay, unemployment compensation, health insurance, pension plans, job search expenses, moving costs and possibly a home sale. How you deal with these issues can profoundly impact both your taxes and your finances.