Estate Tax Bill the Size of a Small Nation’s GDP The estate of billionaire Bill Davidson is suing the IRS. Their beef: a $2.8 billion tax deficiency notice. That’s in the neighborhood of GDP for small nations like Greenland and the Cayman Islands! A...
Tax Issues and Decutions for the Production of Sound Recordings Planning your taxes when recording music (sound recording) is likely not a priority. It is, however, a good idea. Musicians are increasingly recording their own music and money is often an issue. With...
The Obamacare Tax Credit – The Patient Protection and Affordable Care Act (“Obamacare”) permits certain small businesses to claim a tax credit for providing health insurance to their employees. While there are many different options for claiming the...
The Federal Excise Tax (FET) on commercial flights, by definition, is a tax on “amounts paid for transportation by air of persons” under IRC Sec. 4261. This generally refers to transportation by air that begins and ends in the United States. Traditionally...
Florida legislators wisely passed a law that expanded the pre-existing tax exemption for aircraft maintenance costs, including equipment used in repairs. This is great news for general aviation aircraft owners and business aircraft operators. The law was initially...
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