Lauren Magli

About Lauren Magli

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So far Lauren Magli has created 11 blog entries.

Stabilizing Your Business: Improvise, Adapt, Overcome.

With constant changes brought on by the pandemic of COVID-19, your business may be presented with cash flow challenges and opportunities you may have never faced before. To respond to these changes, look no further than a motto with which you are familiar: Improvise, Adapt, Overcome. The slogan used by the United States Marine Corps [...]

2020-03-25T13:58:55-05:00March 24th, 2020|Business, COVID-19, DISASTER RECOVERY|

Government Entities: Plan, Protect, Adapt, Overcome.

As you look at your government entity today, it is likely much different than it was just a short time ago. The COVID-19 pandemic brought challenges and opportunities we have never faced before. How should you respond to the pending financial and operational challenges? Look no further than: Plan, Protect, Adapt, Overcome. These words outline [...]

2020-03-25T11:14:13-05:00March 24th, 2020|COVID-19, DISASTER RECOVERY, GOVERNMENTS|

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 [...]

2018-11-12T15:43:02-06:00February 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 [...]

2018-11-12T15:43:03-06:00February 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 [...]

2018-11-12T15:43:06-06:00February 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 [...]

2018-12-18T17:03:49-06:00January 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 [...]

2018-11-12T15:43:12-06:00January 23rd, 2018|CAPTIVE INSURANCE|

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 took effect in 2018 and made 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 [...]

2019-11-18T16:56:32-06:00January 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 [...]

2018-11-12T15:43:25-06:00January 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, [...]