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Guaranteed Payments Might Not be Guaranteed (To Your Benefit)

Sep 3, 2019

Partnerships and entities taxed as partnerships, such as some LLCs, often pay partners specific amounts outside of the partnership’s usual income allocation.  This is usually in the form of health insurance, retirement contributions, or additional income for specific partners operating the partnership. These additional amounts are most often reported as guaranteed payments to the receiving […]

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Planting Spring Seeds During A Never-Ending Winter Blizzard

May 1, 2019

The Importance of Financial Planning For Families Affected by Disability Intellectual and physical disabilities affect approximately 10% of the population. A parent’s journey with their disabled child is akin to a never-ending winter storm: spectacularly beautiful and simultaneously stressful. Families affected by disability navigate an endless blizzard of Individualized Educational Plan Meetings (IEPs), therapists, medical […]

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Final Passthrough Deductions Regulations Published-Changes and Clarifications Abound

Jan 28, 2019

The Treasury recently finalized regulations on the 20% 199A passthrough deduction.  While some questions remain unanswered, the new regulations address several areas omitted from the proposed regulations released this past August, alter rules on others, and clarify yet more.  Most of these changes were nuances that only nerds who read tax code and regulations (insert […]

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Vacation Rentals Now Subject to Occupancy Tax

Jan 21, 2019

On December 28th, 2018 the governor signed HR 4327 into law, subjecting short term rentals to the same 5.7% state occupancy tax as hotels, bed and breakfasts, and motels.  Municipalities can also subject these rentals to a local occupancy tax (up to an additional 6%). Further, the new law requires registration with the department of […]

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Qualified Opportunity Zone Tax Incentives: That’s Some Pig

Jan 2, 2019

Much like Wilbur the pig from “Charlotte’s Web”, Qualified Opportunity Zone Tax Incentives have been generating a lot of attention.  Given their ability to defer gain recognition up to 10 years, and exempt subsequent gains entirely, they should be attracting attention.  They also create an incentive for investment in economically distressed areas. While that sounds […]

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The Paresky & Flitt team has worked with my company for the past ten years. Through financial difficulties and upswings, bank lender transitions, an IRS audit, retirement planning, international subsidiary development, as...
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Roland Parent