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Steps you make before the end of the year can help mitigate the tax bite you’ll face come next April. That holds despite the debate over tax reform in Washington. House Republicans hope to introduce a tax bill on Nov. 1, sources told CNBC on Wednesday. Regardless of the outcome, there are moves you should be thinking about now. “The first thing I would suggest is to pull as much information...

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October 29, 2017

Gerson Preston attended The Commonwealth Institute of South Florida’s 14th Annual Leadership Luncheon, held aboard the beautiful Celebrity Equinox ship in the Port of Miami on Friday, October 27, 2017. The event featured a conversation with Shelley Zalis and Katie Kempner, Shelley Zalis is the first female chief executive ranked in the research industry’s top 25. In 2000 she created the Online Testing Exchange which in 9 years became one...

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October 29, 2017

Gerson Preston Partners with the Council for Educational Change during Principal Today 2017 | Gerson Preston THE COUNCIL FOR EDUCATIONAL CHANGE is a statewide, 501 (C)(3) non-profit organization. Our mission is to focus on LEADERSHIP to improve student achievement and address critical education issues. Since its inception, the Council for Educational Change has made remarkable strides. Here are a few accomplishments to-date: Creation and continuation of new PASS© sites, now...

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October 27, 2017

Celebrating the birthday of our founder, Mr. Gary Gerson!!! 55 Years with Gerson Preston, and Counting! Happy Birthday!!!! | Gerson Preston 

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October 19, 2017

Now that we’ve hit midsummer, if you own a vacation home that you both rent out and use personally, it’s a good time to review the potential tax consequences: If you rent it out for less than 15 days: You don’t have to report the income. But expenses associated with the rental (such as advertising and cleaning) won’t be deductible. If you rent it out for 15 days or more:...

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October 18, 2017

Hurricane tax relief has many pieces. On Sept. 29, Congress passed the Disaster Tax Relief and Airport and Airway Extension Act of 2017, to assist victims of Hurricanes Harvey, Irma and Maria. President Trump quickly signed it into law. The relief includes help for individuals and a valuable tax credit for eligible employers whose businesses were “rendered inoperable” for some period after the disaster. The “employee retention credit” equals 40%...

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October 06, 2017

Checkpoint Special Study: Tax Provisions in the 2017 Disaster Tax Relief Bill – Thomson Reuters Tax & Accounting https://tax.thomsonreuters.com/media-resources/news-media-resources/checkpoint-news/daily-newsstand/checkpoint-special-study-tax-provisions-in-the-2017-disaster-tax-relief-bill/ | Gerson Preston 

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October 06, 2017

If You Traded Bitcoin, You Should Report Capital Gains To The IRS | Gerson Preston The IRS considers cryptocurrencies, including Bitcoin, to be “intangible property.” Investors and traders holding cryptocurrency as a capital asset should use capital gain or loss tax treatment on sales and exchanges, with the realization method. For example, if you buy Bitcoins with U.S. dollars and later sell them for U.S. dollars, a capital gain or...

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October 01, 2017

Gerson Preston Partner Steve Klein Discusses the Tax Implications of Hurricane Irma | Gerson Preston Hurricane Irma’s impact is still being felt by small and midsize law firms in Florida, as those that lost significant revenue are now being forced to reach out to financial professionals for help in bridging a cash crunch. Apollo Bank CEO Eddy Arriola—whose bank serves solo practitioner firms as well as firms with as many...

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October 01, 2017

Gerson Preston Partner Stuart Rohatiner Discusses International Tax Planning and Compliance at Harvard Club in New York City | Gerson Preston The Harvard Club of New York is a private social club located in Midtown Manhattan, New York. The club is the sole club in New York City whose membership is restricted almost entirely to alumni and faculty of one university, Harvard University. Stuart Rohatiner, a partner at Gerson Preston,...

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October 01, 2017