Virtual currencies represent an innovation in financial services, products and technology that has the potential to support a more efficient and transparent global commerce by proposing lower transaction costs and rapid availability of cash. In spite of the aforementioned benefits, before engaging in virtual currency transactions, investors should have a clear understanding of what they are, how they can be utilized and what are some of the tax ramifications to U.S. taxpayers. This article addresses a few of the basic concepts of virtual currencies, such as blockchain and mining, as well as how the Internal Revenue Service (IRS) treats the most common virtual currency transactions.
When going through a divorce, the process of dividing assets can be a frustrating and confusing one. Retirement assets are an important issue in any divorce proceeding, since, after the marital home, they often represent the largest category of marital assets to be divided in a divorce settlement.
It is increasingly common for individuals living in the United States or U.S. citizens living abroad to receive an inheritance from a non-U.S. person (for purposes of this article a non-U.S. person is defined as someone [...]
Important Investment and Financial Planning Considerations when Relocating to Florida from the Northeast
Many residents from the high-tax states in the Northeast are seriously considering changing their official residence and moving to Florida. This article explains one of the many questions that these residents face regarding how the move may impact their portfolio strategy.
The outbreak of COVID-19 had a devastating impact across the world in 2020, but perhaps the impact has been felt the most by nonprofits and charitable organizations. Due to the stay-at-home restrictions and resulting economic consequences, [...]
There are roughly 1.6 million residents from the tri-state area that commute to New York City on a daily basis, with many of those residents crossing state lines before arriving at their office. Given the global [...]
U.S. Economic Growth Projections We believe the light at the end of the economic tunnel gets brighter by the day as vaccine deployment ramps-up and stimulus measures are approved. U.S. economic growth [...]
Round Table Wealth Management (RTWM), a global wealth and investment management firm headquartered in Westfield, NJ, proudly announces the expansion of its Boca Raton, Florida Office.
This paper is the third of a series addressing retirement planning issues. In the first part, we discussed how to prepare a retirement cash flow forecast. In the second part, we discussed how to prepare a [...]
As part of Tax Cut and Jobs Act of 2017, the U.S. federal estate tax exemption amount increased to approximately $11.7 million per individual or $23.4 million per couple (for 2021). As a result, many families are no longer subject to this federal estate tax due to the high estate tax exemption amounts. However, several individual states impose their own estate or death taxes, and many have much lower estate tax exemption thresholds.