Regulatory News: Taxpayer Deductions

The United States Tax Court (the “Tax Court”) recently issued a significant opinion, that of RERI Holdings I, LLC v. Commissioner, 149 T.C. 1 (2017).  In that case, the taxpayer, on its partnership tax return for the 2003 taxable year, claimed a $33 million charitable...

Take Advantages of Education-Related Tax Incentives

Tax time – it comes once a year, but unlike the holidays, it’s certainly not as festive or well-received. It can be an anxious period, as taxpayers compile essential documentation showing their income, withholdings, financial transactions (such as a new home purchase...

An Update on the Proposed Section 2704 Regulations

New regulations by the Treasury Department proposed earlier this year, formally entitled “Estate, Gift and Generation-Skipping Transfer Taxes; Restrictions on Liquidation of an Interest Regulations” (the Section 2704 regulations”) has business owners, accountants, and...

MSPC Named to the IPA 300 List

MSPC has been ranked #266 on Inside Public Accounting’s Top 300 Firms list.  The firm is proud to have moved up three spots from its 2015 position of #269. View Inside Public Accounting’s Top 300 List.

Why Aren’t You Maxing Out Your 401(k)?

Your 401(K)  may be the best retirement planning tool you have. Do you have a million dollars? At the moment, probably not. But if you invest and save diligently and let your assets compound, who knows? You may be a millionaire someday. In fact, you may need to be a...