Charleston the Most Undervalued U.S. City?

Is Charleston the most undervalued U.S. city for housing costs? So says a new analysis from Smart Asset (www.smartasset.com). As quoted in today's Post and Courier, "We estimate, given the quality of life available in the Holy City, that home prices in the area should be around $294.40 per square foot. According to data [...]

Charleston the Most Undervalued U.S. City?2019-06-04T20:16:28+00:00

Here Comes Tax Reform?

We're starting to receive some calls about the Trump tax plan and what it means for our clients. The short answer is, we don't know. It is highly unlikley that the bullet-point plan that President Trump released will be enacted in anything like its current form, so we do not recommend that clients make [...]

Here Comes Tax Reform?2019-06-04T20:15:24+00:00

FBAR Forms No Longer Due on June 30

Just an FYI for all the expats out there: the foreign bank account reporting "FBAR" (Form 114) is no longer due on June 30 as in past years. It is now due on the same date as your individual income tax return--so October 15 if you have filed for a six-month extension. [...]

FBAR Forms No Longer Due on June 302019-06-04T20:14:17+00:00

SC Per-Capita Tax Bill Among Nation’s Lowest

The Associated Press has calculated each state's per-capita federal tax bill (federal income, payroll, and estate tax) using data from IRS and population estimates from the Census Bureau. The result shows that South Carolina residents pay $4,685 per-capita, among the lowest in the nation and explained by low per-capita income. The most heavily taxed? [...]

SC Per-Capita Tax Bill Among Nation’s Lowest2019-06-04T20:13:00+00:00

Startup Economy Index Ranks Charleston Highly

The Post and Courier reports that TechNet, a Washington-based innovation advocacy group, has released a "startup economy index" based on the proportion of job postings in a region that uses the word "startup." The Lowcountry ranks #25, which is fairly high given its size, and is on the same tier as cities like Houston and [...]

Startup Economy Index Ranks Charleston Highly2019-06-04T20:11:57+00:00

Tax Filing Deadline is April 18 for Individuals and Trusts

As a result of a federal holiday, taxpayers have until Monday, April 18, this year to file individual and calendar-year fiduciary income tax returns. As a reminder, an extension of time to file a return does not extend the due date for payment of any tax owed, so don't procrastinate if you think you [...]

Tax Filing Deadline is April 18 for Individuals and Trusts2019-06-04T20:10:54+00:00

Deadline Approaching for Reporting Foreign Bank and Investment Accounts

A hot button issue for IRS is the reporting of foreign bank and investment accounts by U.S. citizens and resident aliens. If you own an interest in or have signature authority for a foreign account, you may be required to file Form 114 (Report of Foreign Bank and Financial Accounts) annually by April 15 [...]

Deadline Approaching for Reporting Foreign Bank and Investment Accounts2019-06-04T20:09:40+00:00

Charleston New Business Formations Keep Pace

According to a recent article in the Post & Courier, the number of new businesses formed in Charleston since the 2008 recession has outpaced most of the nation. According to U.S. Census data, 1,700 businesses opened up in Charleston in 2014. Every year since 2011, the Lowcountry has seen a growth in new firms, [...]

Charleston New Business Formations Keep Pace2019-12-26T15:15:14+00:00

Expatriate Tax Deadlines

Accel has many expatriate clients (both U.S. residents living abroad and foreign nationals living in the United States). If you are one of them, here are the important 2017 U.S. tax deadlines to be aware of: April 18, 2017: deadline for those living in the United States to either file an extension or timely [...]

Expatriate Tax Deadlines2019-06-04T20:05:55+00:00

Health Insurance Reimbursements Are Back

Under the Affordable Care Act, employers have generally been prohibited from reimbursing employee health insurance costs. However, beginning in 2017, employers can once again use pre-tax funds to reimburse employee health costs, including insurance. Such Health Reimbursement Arrangements (HRAs) have several conditions. A few of the major ones: HRAs are limited to businesses with [...]

Health Insurance Reimbursements Are Back2019-06-04T20:03:26+00:00
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