Tuesdays With Morey - Tax Tips®

At the end of 2014 and 2015, Congress added and changed tax provisions in budget extension bills. Many of these changes go unnoticed by some preparers, but not by Morey Glazer. He and his team are continually reading and investigating the tax code so his clients don’t have to. They are competent in FACTA requirements, Obamacare and the Foreign Earned Income Credit for those who spend time living and investing offshore or have a vested interest in an offshore corporation.   Key Takeaways: [1:32] What was significant about the extension bill Congress passed on December 15, 2014? [6:24] You may be missing important tax deductions if you are using a filing program such as Turbo Tax. [9:15] FACTA requires you to prove you have paid taxes on any money you move to an offshore account. [11:00] If you make over $250,000, including passive income, you have an additional 2.8% tax based on tax changes included in Obamacare. [14:03] The extender bill added deductions for investments in new equipment.  [16:44] Don’t forget