IRS audits of higher income taxpayers increase The IRS audited one in eight individuals with incomes over $1
million in fiscal year (FY) 2011. While the overall audit coverage
rate for individuals remained steady at just over one percent, the
a...
Tax gap grows to $450 billion; compliance rate holds steady The "gross tax gap," or the amount of tax owed to the U.S.
government that is not paid on time, climbed from $345 billion in
Tax Year (TY) 2001 to $450 billion in TY 2006, the IRS has
reported. (Be...
CA - Independent contractor withholding webinar announced The California Franchise Tax Board (FTB) is holding a free webinar
on December 20, 2011, at 10 a.m. PST, for those who must withhold
personal income tax on California source income...
NV - Net proceeds of minerals tax regulations adopted The Nevada Tax Commission has adopted regulations that revise the
deductions used to determine the new proceeds of minerals tax.
Effective January 1, 2012, the several deductions h...
NY - Application for award of administrative costs denied A taxpayer was not entitled to an award of administrative costs
under Tax Law §3030 with regard to a New York sales and use
tax settlement, even though the taxpayer established tha...
Welcome and thank you for visiting our Website. We provide traditional tax and accounting services for high net worth individuals, businesses, trusts/fiduciaries and non-profit organizations. We specialize in income and estate tax saving strategies, effective business and real estate investment formation and trust/fiduciary accounting and tax reporting.
In addition to providing you with a profile of our firm and the services we provide, this Website has been designed to become a helpful resource tool to you. These useful resources include a calendar of important dates (in our Info Center section), informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external Websites that we felt would be of interest to our clients and visitors (in our Internet Links section).
While browsing through our Website, please feel free to contact us with any questions or comments you may have - we'd love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions and would welcome the opportunity to serve as your CPA advisor.
Yours truly,
Steve Coldwell & Louis Sclafani
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