Victor Dozzi – Page 15 – Crawford Ellenbogen

Oct 28, 2020

Put pen to paper: How a letter of instruction can benefit family harmony

By Victor Dozzi
Estate
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You may view your will as the centerpiece of your estate plan. But other documents can complement it. For example, if you haven’t already done so, consider writing a letter of instruction. Elements of the letter A letter of instruction is an informal document providing your loved ones with vital information about personal and financial

Oct 22, 2020

Understanding the passive activity loss rules

By Victor Dozzi
Business
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Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures are passive activities, the passive activity loss rules prevent you from deducting expenses that are generated by them in excess of their income. You can’t deduct the excess expenses (losses) against earned

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