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Entries by Ryan Miller

With Foreign Investment, It's Both “Buyer Beware” and “Seller Beware”

Posted 1:16 PM by
The Association of Foreign Investors in Real Estate’s (AFIRE) annual foreign investment survey reported that 64 percent of respondents intend to increase U.S. investment in real estate in 2016. Data collected by Real Capital Analytics Inc. indicates that foreign purchases of U.S. real estate leapt from less than $5 billion in completed deals in 2009 to $87.3 billion of completed deals in 2015.
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Deadline to Complete the 2015 FBAR Approaching

Posted 4:00 AM by
Any U.S. person that has a financial interest in or signature authority over a foreign financial account—including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account—may be required to report those accounts and balances to the Department of Treasury’s Financial Crimes Enforcement Network (FinCen). 
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Taxpayers, Take Caution: Scams for the 2016 Filing Season Pose a Threat

Posted 12:00 PM by
As we enter another tax filing season, KSM’s Tax Services Group wanted to remind everyone of at least two tax scams that you may encounter: phone scams and phishing.
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Surface Transportation and Veterans Health Care Choice Improvement Act of 2015

Posted 12:00 PM by
On July 31, 2015, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the “Surface Transportation Act”) was signed into law. The Surface Transportation Act includes a wide variety of provisions.
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Protecting Americans from Tax Hikes Act of 2015

Posted 3:57 PM by
Friday, Dec. 18, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The PATH Act extends many popular tax provisions that expired at the end of 2014. Unlike the tax extenders legislation we have seen in the past couple of years, the PATH Act makes many provisions permanent, extends others through 2019, and extends several provisions through 2016. 
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New Reporting Requirements for Employers Under the PPACA

Posted 12:00 PM by
The Patient Protection and Affordable Care Act (PPACA) imposes new reporting requirements on those that provide – and those that are required to provide – minimum essential coverage for the upcoming filing season. Minimum essential coverage is the type of health insurance that individuals are required to have in order to avoid paying a tax penalty.
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Are U.S. Trucking Companies Subject to Canadian Taxes?

Posted 1:06 PM by
Trucking companies that deliver to, and/or pick up from, locations outside of the U.S. must consider whether such activity results in tax obligations to the foreign jurisdiction. This article focuses on trucking operations to, and from points within, Canada. 
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Rules for Deducting Home Mortgage Interest

Posted 6:52 PM by
Taxpayers typically know that they can deduct home mortgage interest payments on their tax returns. But there are limits and rules to be followed. For example, only "qualified resident interest" can be deducted, which means:
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Taxpayer Tips: Identity Theft and the IRS

Posted 6:05 PM by
The media is awash with stories of identity theft this tax season, and the stories are all the same: Someone calls stating that they are with the IRS, and they need personal information from you in order to process your tax payment. Or you receive an e-mail that appears to be from the IRS, requesting information to process your tax return. Find out how to protect yourself against these and other identity theft scams, and what to do if you have already been a victim.
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Year-End Tax Planning: Top 10 Considerations

Posted 6:03 PM by
As 2014 draws to a close, there are many year-end tax-planning strategies that both businesses and individuals should consider. Read the top-10 list of such considerations, including updates on this week's "tax extenders" legislation, the recent changes included in the Foreign Account Tax Compliance Act, new repair regulations, and others.
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