Harvey I. Bezozi
Donor-Advised Funds (DAFs) vs. Private Foundations: How the Wealthy Donate Money
Most people are familiar with the charitable activities of private foundations bearing the names of giants of U.S. business—the Rockefeller, MacArthur, and Bill and Melinda Gates Foundations, to name just a few. These foundations still play a vital role in charitable activities around the world, but the wealthy are increasingly directing their charitable contributions to Read more about Donor-Advised Funds (DAFs) vs. Private Foundations: How the Wealthy Donate Money[…]
In the News: CNBC
Harvey was just quoted again on CNBC. This time, he was tapped for his expertise on properly managing your financial budget and what happens (BANKRUPTCY) to those that don’t “live below their means” (one of his favorites mantras). There are several types of bankruptcies an individual can file… Chapter 7, Chapter 13, and Chapter 11. Read more about In the News: CNBC[…]
Taxation of Professional Sports Teams and Team Owners
It is all but inevitable that any change to the tax code will work to the benefit of some and the detriment of others. Among the recently-publicized casualties of the Tax Cuts and Jobs Act of 2017 is a tax benefit formerly enjoyed by sports franchises. Since few businesses mine the tax code for benefits Read more about Taxation of Professional Sports Teams and Team Owners[…]
In the News: NerdWallet
Harvey was recently quoted by NerdWallet in an article entitled How to Turn a Tax Refund Into a Fatter Paycheck. Once again, the topic of proper planning and budgeting is “front and center” when it comes to monitoring and estimating your tax liability and tax payments made against this liability through estimated tax payments and/or Read more about In the News: NerdWallet[…]
In the News: Washington Post
Harvey was recently quoted in a Washington Post article entitled ‘That’s the game’: Tax planners look for loopholes amid uncertainty over new law. He comments on the new tax law loophole known as the “Qualified Business Income 20% Passthrough Deduction.” Doctors are assertively pursuing creative strategies so they can fully participate in the tax benefits Read more about In the News: Washington Post[…]
In the News: MarketWatch
Harvey was recently quoted in a MarketWatch article entitled “Beware the IRS is Looking for these Red Flags this Tax Season.” He comments on what employees need to do to get reimbursed for business expenses. The rules have changed under the new tax law. Take a look to see if you qualify. To review the full Read more about In the News: MarketWatch[…]
Energy Efficient Commercial Building Section 179D Tax Deduction
As I observed in a recent article on the Section 199 deduction for broadcasters, the many issue-specific “campaigns” recently launched by the Large Business and International (LB&I) Division of the IRS vary in nature. Whereas some of the campaigns heavily emphasize stepped-up enforcement, others aim primarily to educate taxpayers and resolve honest confusion over filing Read more about Energy Efficient Commercial Building Section 179D Tax Deduction[…]
IRS Audits of MVPDs and TV Broadcasters That Claim a Section 199 Deduction
Much has been written about the numerous issue-specific enforcement “campaigns” announced in 2017 by the Large Business and International (LB&I) Division of the IRS. Most of the campaigns center on specific reporting and filing requirements that the IRS has determined many taxpayers are failing to meet. A few campaigns, however, focus more on sorting out Read more about IRS Audits of MVPDs and TV Broadcasters That Claim a Section 199 Deduction[…]
How Private Placement Life Insurance Helps Protect and Grow Your Wealth
It seems like every day there is a new “big idea” for shielding both wealth and income from the long reach of the IRS. Surprisingly, the latest hot take on tax reduction and wealth protection centers on an investment most people consider about as trendy as an over-60 men’s bowling league: life insurance. Background: Types Read more about How Private Placement Life Insurance Helps Protect and Grow Your Wealth[…]