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From the Headlines to your Bottom Line

Real Estate Investors: Let's Talk about Like-Kind Exchanges

Investors often swap one property for another. Why? The tax law allows for tax-free real property exchanges as long as the transaction involves like-kind property. Any taxable gains are completely or partially deferred until the replacement property is sold. Or, if the owner dies while still holding the replacement property, the taxable gain disappears. Interested? Here's why you might want to complete your deal sooner rather than later.
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U.S. Treasury to Retire the myRA Program

It's only a few years old, but the "my Retirement Account" (myRA) program, is going away. These accounts were intended to encourage taxpayers to start saving for retirement, but too few people took advantage of the program to justify the taxpayer cost. As part of a plan by the Trump administration to assess and eliminate ineffective programs, myRAs will soon be phased out. Here's information for accountholders about the future of myRAs.
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Business ID Theft: Is Your Data at Risk?

Cyberattacks against individual taxpayers are down, thanks to security measures set forth by federal and state tax agencies. But thefts of business data are rising, and the costs of these breaches can be significant. Here's more on this trend, along with simple, but effective, ways businesses can help minimize the risk of tax-related identity theft.
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How We Add Up

"Our clients rely on Fust Charles Chambers to provide innovative thinking by anticipating changes in tax laws, accounting methods and industry and economic trends. At other times, our clients depend on us to act as a sounding board for their ideas and concerns. We’re proud to be part of our clients’ team with the purpose of assisting them in attaining their goals and objectives."

- Joseph L. Charles, Partner