Victor Dozzi, Author at Crawford Ellenbogen

Oct 14, 2020

Why it’s important to plan for income taxes as part of your estate plan

By Victor Dozzi
Estate
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The current federal estate tax exemption ($11.58 million in 2020) means that many people aren’t concerned with estate tax. But they should still plan to save income taxes. For example, be careful making lifetime transfers of appreciated assets. It’s true that the assets and future appreciation generated by them are removed from your estate. But

Oct 7, 2020

“Synthetic” identity theft is even scarier than the original

By Victor Dozzi
Fraud
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Traditionally, identity theft occurs when a thief gets hold of someone’s personal information and uses it to assume his or her identity to open accounts. With “synthetic ID theft,” the perpetrator creates a fictitious identity by combining real data, often from several individuals, with fabricated information. The fraudster then uses this Frankenstein monster type of

Oct 1, 2020

2020 Q4 tax calendar: Key deadlines for businesses and other employers

By Victor Dozzi
Business
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2020 Q4 tax calendar: Key deadlines for businesses and other employers Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all

Sep 17, 2020

Some online sellers burnish their reputations at the expense of yours

By Victor Dozzi
Fraud
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Reports started trickling into state agricultural agencies in July: Consumers were worried about strange seed packets they had received in the mail. The unsolicited goods weren’t labeled and appeared to be sent from China. In a year already fraught with anxiety and paranoia, the story quickly made headlines. Perhaps this was the first you’d heard

Sep 9, 2020

CARES Act made changes to excess business losses

By Victor Dozzi
Business
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The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses to file amended tax returns. If you hold an interest in a business, or may do so in the future, here is more information about

Sep 2, 2020

The possible tax consequences of PPP loans

By Victor Dozzi
Business
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If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and Economic Security (CARES) Act, which was enacted on March 27, 2020, is designed to provide financial assistance

Aug 27, 2020

Dad fworking on a laptop while holding child

More parents may owe “nanny tax” this year, due to COVID-19

By Victor Dozzi
Taxes
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In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal “nanny tax” obligations. Keep in mind that the nanny tax may apply to all household workers, including housekeepers, babysitters, gardeners or others who aren’t independent contractors. If you employ someone

Aug 25, 2020

5 ways to protect your investment accounts from fraud

By Victor Dozzi
Fraud
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Because the average investment account boasts a much larger balance that a typical checking or savings account, cybercriminals are particularly interested in hacking them. Financial institutions are largely responsible for ensuring the security of these accounts, but business customers and consumers also should adopt defensive measures. Here are five recommendations. Select two-step authentication. Most financial

Victor Dozzi, Author at Crawford Ellenbogen - Page 12 of 14