Lauren Magli

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So far Lauren Magli has created 18 blog entries.

3 Big Changes In Partnership Audit Rules Beginning 2018

Did you know there are new rules for IRS audits of partnerships that affect all partnerships and LLC’s taxed as partnerships? David White highlights key changes including taxes assessed at the partnership level, partnership IRS representative requirement, and shift of tax burden & timing — as well as important next steps for partnerships to [...]

2018-11-12T15:42:58-05:00March 5th, 2018|TAX CONTROVERSY, VIDEO|

You Can Run, but You Can’t Hide: IRS Search for Unreported Cryptocurrency Upheld in Federal Court

No matter how untraceable digital transactions may seem, there is no hiding cryptocurrency under the mattress. Virtual currencies like Bitcoin, Litecoin, and XRP are digital assets that cannot be hidden or concealed. Even though virtual currency is often anonymously held and transacted, it is traceable, and the IRS will go to great lengths to find [...]

2018-11-12T15:43:02-05:00February 20th, 2018|INDIVIDUAL TAX, March 2018|

Preparing for Tax Reform Take-Off: 4 International Tax Impacts

When the Tax Reform plan was signed, the largest international tax reform since 1962 also achieved liftoff. Specifically, there are several major provisions in the new legislation that will have a large impact on this group of taxpayers. 1. Participation exemption For distributions made after December 31, 2017, domestic C-Corporation taxpayers will be allowed a [...]

2018-11-12T15:43:03-05:00February 16th, 2018|INTERNATIONAL TAX, TAX REFORM: BUSINESS TAX|

Estate and Gift Tax Changes from Tax Reform – Sweet as Honey

Tax Reform has made a significant impact on estate planning—and the changes are as sweet as honey. The most buzz-worthy, amongst the swarm of differences, is the increase in the lifetime exemption amount, which doubled under Tax Reform. Something to Hum About Under previous law, the lifetime exemption was $5 million adjusted for inflation, meaning [...]

2018-11-12T15:43:06-05:00February 13th, 2018|INDIVIDUAL TAX, March 2018, TAX REFORM: INDIVIDUAL TAX|

These Common Financial Statement Pitfalls

Even the most dedicated business owners can struggle with preparing and reviewing financial statements. These important documents hold key insights about a company’s performance. Mistakes and data errors can drain resources and negatively impact profitability. Here are a few of the most common hazards you may encounter in preparing a financial statement and tips on [...]

2018-12-18T17:03:49-05:00January 24th, 2018|CLIENT ACCOUNTING SERVICES, FEBRUARY 2018|

2018 Update for Captives

In December 2015, the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) passed and increased the previous premium limitation from $1.2 million to $2.2 million—beginning after 2016. It also added an annual adjustment for inflation to the premium limitation. As a part of the inflation adjustments for 2018, the IRS increased the 2018 [...]

2018-11-12T15:43:12-05:00January 23rd, 2018|CAPTIVE INSURANCE|

Extra! Extra! 3 Cybersecurity Risk Assessment Steps to Keep Your Organization Out of the Headlines

Is your organization protected against a potential crippling cybersecurity attack? Scott Bailey shares 3 risk assessment steps to keep your organization out of the headlines: identify essential assets, evaluate data flow and current protection, and recommend improvements.

2018-11-12T15:43:14-05:00January 17th, 2018|CYBERSECURITY, VIDEO|

When Paying Vesting Agreement Taxes Now Can Equal Big Savings Later: 3 Winning Scenarios

Filing a Section 83(b) Election could equal significant tax savings for you in the following 3 scenarios: founder of a new company without value, low valuation high expectations company stock, or company with potential liquidating event, as Kellie Shipley shares. Contact CRI for help making your move.

2018-11-12T15:43:15-05:00January 17th, 2018|INDIVIDUAL TAX, VIDEO|

The New Revenue Recognition Standard’s Required Disclosure Changes Are Calling Your Name

The implementation date is here for the new revenue recognition standard, and your business is likely impacted by with changes to your required disclosures. Watch Jon Heath explain the 5 new requirements that likely mean disclosure changes for most companies: disaggregated revenue, cost to obtain contract, contract balances, performance obligations, and significant judgments. [...]

2018-11-12T15:43:16-05:00January 17th, 2018|REVENUE RECOGNITION, VIDEO|

5 Blockchain FAQs: What You Need to Know

Should your business consider blockchain technology? CRI highlights 5 need-to-know FAQs about blockchain as you consider whether and how to implement this technology within your company. Learn how blockchain works, common uses, the benefits (like data security), and how you might consider implementing - all explained in everyday language by Jon Heath. [...]

2018-11-12T15:43:18-05:00January 17th, 2018|CLIENT ACCOUNTING SERVICES, VIDEO|

Leases By Pieces: Adding Up 5 Common Implementation Challenges

Experiencing challenges in relation to implementation of the new lease accounting standards? You are not alone. CRI's professionals are here to help identify possible solutions to common challenges such as: decentralization, data gathering, human capital resources, costs, and learning curve as Jeff Silver explains.

2018-11-12T15:43:20-05:00January 17th, 2018|LEASE ACCOUNTING, VIDEO|

How Can Tax Credits Benefit You?

Do you know the difference between tax credits and tax deductions? And are you taking advantage of tax credits for actions you're already taking? Similar to deductions, tax credits incentivize individuals and businesses to reduce their overall tax liabilities. However, tax credits differ in that they provide a “dollar for dollar” reduction in [...]

2018-11-12T15:43:21-05:00January 17th, 2018|BUSINESS TAX, INDIVIDUAL TAX, VIDEO|

Understanding Tax Reform’s New Pass-Through Entity Deduction

As many business owners might tell you, there are times when business income and individual income can feel like two parallel universes co-existing in the cosmos. While they are closely related, passing through income from one to the other can seem as complicated as space travel itself. Lucky for you, recent changes within the Tax [...]

Tax Reform’s Bonus Depreciation and Section 179 Gift

On December 22, 2017, the President signed the Tax Reform legislation. The bill largely takes effect in 2018 and makes significant changes that impact most — if not all — taxpayers. Increased deductions for bonus depreciation and Section 179 expense are just two of these changes impacting business taxpayers, and these largely positive changes are [...]

2018-11-12T15:43:23-05:00January 15th, 2018|BUSINESS TAX, TAX REFORM: BUSINESS TAX|

Entity Selection Gets Murkier with New Tax Reform Passage

Choosing the best type of entity structure for your business has always been a complicated process. There are so many factors that go into making this decision - number of owners, state law, and taxation of the business and its owners to name a few. With the recent passage of Tax Reform, taxation has been [...]

2018-11-12T15:43:25-05:00January 8th, 2018|BUSINESS TAX, FEBRUARY 2018, TAX REFORM: BUSINESS TAX|

3 Controversial Tax Reform Topics Impacting Individual Tax Returns

There are many new interesting aspects in the Tax Reform that may tug on individual taxpayers’ wallets. Here are highlights of three main areas potentially dividing dollars. 1. Alimony One area that seems to be falling under the radar is the impact on divorce settlements. For divorce or separation agreements executed after December 31, 2018, [...]