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Sidney Kess, JD, LLM, CPA

Home /Sidney Kess, JD, LLM, CPA
September 2019 Issue

Social Security Benefits after Marriage, Death, or Divorce

By  Sidney Kess, JD, LLM, CPA

October 2019 0

Making Social Security decisions is relatively simple for seniors filing single tax returns. Assuming modest or no earned income, retirement benefits can begin as early…

May 2018 Issue

ICYMI | Tax Cuts and Jobs Act: Impact at Different Stages of Life

By  James R. Grimaldi, CPA, James A.J. Revels, CPA and Sidney Kess, JD, LLM, CPA

October 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) made dramatic changes to the rules for individuals that affect tax planning at all stages of…

August 2019 Issue

Top Ten Changes in the Taxpayer First Act of 2019

By  Sidney Kess, JD, LLM, CPA and Steven I. Hurok, JD, CPA

September 2019 0

On July 1, 2019, President Trump signed into law the Taxpayer First Act of 2019 (TFA), enacting changes to the IRS's organizational structure, customer service,…

July 2019 Issue

Explaining the New Landscape for Charitable Tax Breaks

By  Sidney Kess, JD, LLM, CPA and James R. Grimaldi, CPA

August 2019 0

At first glance, the Tax Cuts and Jobs Act of 2017 (TCJA) had little direct impact on the tax treatment of charitable giving. Drilling down,…

July 2019 Issue

Getting Started with Financial Planning

By  Sidney Kess, JD, LLM, CPA and Edward Mendlowitz, CPA/PFS, ABV

August 2019 0

Financial planning services can be a separate service or an add-on to tax or other services. With the Tax Cuts and Jobs Act's (TCJA) simplification…

May 2018 Issue

ICYMI | Tax Cuts and Jobs Act: Impact on Individuals at Different Stages of Life

By  James R. Grimaldi, CPA, James A.J. Revels, CPA and Sidney Kess, JD, LLM, CPA

June 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) made dramatic changes to the rules for individuals that affect tax planning at all stages of…

May 2019 Issue

Understanding the Duties of a Trustee in Administering a Trust

By  Sidney Kess, JD, LLM, CPA and Edward Mendlowitz, CPA/PFS, ABV

June 2019 0

In Brief Trusts enable individuals to ensure the financial health of loved ones long after they are gone, but only if they are properly set…

May 2019 Issue

Tax-Efficient Investing

By  Sidney Kess, JD, LLM, CPA

May 2019 0

In Brief The tax impact on investment income can be mitigated through the transfer of assets into retirement accounts. Not all accounts and investments are…

May 2019 Issue

Evaluating the Financial Planning Services Business Model

Is It the Right Time to Start a Planning Practice?

By  Sidney Kess, JD, LLM, CPA and Edward Mendlowitz, CPA/PFS, ABV

May 2019 0

Financial planning is a generic term for all of the services that CPAs perform that deal with a client's individual wealth. It is also a…

TCJA Impact

How Collectors Can Utilize the Opportunity Zone Program

Investors See a Potential Replacement for Like-Kind Exchanges

By  Sidney Kess, JD, LLM, CPA and Michael Kelley

April 2019 0

For many investors in art, coins, or fine wine, their investments are their passion. The pride of ownership and the beauty they bring into the…

TCJA Impact

New Risks and Potential Rewards in Roth IRAs

By  Sidney Kess, JD, LLM, CPA and James R. Grimaldi, CPA

March 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) contains both positive and negative news for Roth IRAs. Some of the implications are obvious, but…

Featured

ICYMI | Getting Divorced under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James A.J. Revels, CPA, James R. Grimaldi, CPA and Thomas K. Lauletta, JD

February 2019 0

Despite the best of intentions when couples say, “I do,” more than a few will find themselves eventually saying, “I don't.” Aside from the emotional…

Featured

ICYMI | Getting Married Under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James A.J. Revels, CPA, James R. Grimaldi, CPA and Thomas K. Lauletta, JD

February 2019 0

More than 2.1 million couples get married in the United States each year (http://www.cdc.gov/nchs/nvss/marriage_divorce_tables.htm). Few probably give any thought to the tax implications of their…

TCJA Impact

New Opportunities Can Create New Revenue Streams

By  Sidney Kess, JD, LLM, CPA

January 2019 0

The IRS reports that approximately 70% of taxpayers have taken the standard deduction on their federal income tax return in recent years. Under the Tax…

October 2018 Issue

ICYMI | The Tax Cuts and Jobs Act: QBI Deduction Issues for Professionals

By  Sidney Kess, JD, LLM, CPA

December 2018 0

Most attorneys, accountants, and other professionals operate as unincorporated sole practitioners, or through partnerships and limited liability partnerships (LLP), making them owners of pass-through entities.…

October 2018 Issue

ICYMI | The Tax Cuts and Jobs Act: Changes for Securities Investors

By  Sidney Kess, JD, LLM, CPA

December 2018 0

The Tax Cuts and Jobs Act of 2017 (TCJA) did not make any major changes to the taxation of gains and losses from securities transactions.…

January 2018 Issue

ICYMI | The Tax Cuts and Jobs Act: Impact on Individuals

By  Sidney Kess, JD, LLM, CPA

December 2018 0

On December 20, 2017, Congress passed the Tax Cuts and Jobs Act (H.R. 1) designed to cut taxes on individuals and businesses, stimulate the economy,…

February 2018 Issue

ICYMI | The Tax Cuts and Jobs Act: Impact on Businesses

By  Sidney Kess, JD, LLM, CPA

December 2018 0

On December 20, 2017, Congress passed a major tax package (H.R. 1) designed to cut taxes on businesses and individuals, as well as to stimulate…

November 2018 Issue

ICYMI | The Equifax Data Breach

What CPAs and Firms Need to Know Now

By  Sidney Kess, JD, LLM, CPA and Walter Primoff, CPA/PFS, CGMA

December 2018 0

In the wake of the Equifax computer breach—in which key personal information of 145 million Americans was stolen—it may be correct to assume that anyone…

TCJA Impact

Tax and Financial Aspects of Casualty and Disaster Losses under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James R. Grimaldi, CPA, James A.J. Revels, CPA and Thomas K. Lauletta, JD

November 2018 0

Individual and business taxpayers may experience financial losses resulting from sudden damage or destruction to their property. Physical loss due to fire, windstorms, hurricanes, and…

TCJA Impact

Paying for Higher Education under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James R. Grimaldi, CPA, James A.J. Revels, CPA and Thomas K. Lauletta, JD

October 2018 0

For most students, the price of higher education is steep and getting steeper. Annual increases in the cost of higher education have consistently outpaced the…

TCJA Impact

Deep Dive on the Tax Cuts and Jobs Act

Changes for Securities Investors

By  Sidney Kess, JD, LLM, CPA

October 2018 0

The Tax Cuts and Jobs Act of 2017 (TCJA) did not make any major changes to the taxation of gains and losses from securities transactions.…

TCJA Impact

Deep Dive on the Tax Cuts and Jobs Act

QBI Deduction Issues for Professionals

By  Sidney Kess, JD, LLM, CPA

October 2018 0

Most attorneys, accountants, and other professionals operate as unincorporated sole practitioners, or through partnerships and limited liability partnerships (LLP), making them owners of pass-through entities.…

TCJA Impact

Getting Married

A Tax Perspective Under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James A.J. Revels, CPA, James R. Grimaldi, CPA and Thomas K. Lauletta, JD

October 2018 0

More than 2.1 million couples get married in the United States each year (http://www.cdc.gov/nchs/nvss/marriage_divorce_tables.htm). Few probably give any thought to the tax implications of their…

TCJA Impact

Getting Divorced

A Tax Perspective under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James A.J. Revels, CPA, James R. Grimaldi, CPA and Thomas K. Lauletta, JD

October 2018 0

Despite the best of intentions when couples say, “I do,” more than a few will find themselves eventually saying, “I don't.” Aside from the emotional…

TCJA Impact

Selling and (Perhaps) Buying a Home under the Tax Cuts and Jobs Act

By  Sidney Kess, JD, LLM, CPA, James A.J. Revels, CPA, James R. Grimaldi, CPA and Thomas K. Lauletta, JD

October 2018 0

Buying or selling a home is one of the most significant financial transactions many individuals engage in. The authors examine the various ways in which…

September 2018 Issue

Adding a Legacy Division: Providing Taxpayers with Peace of Mind

By  Sidney Kess, JD, LLM, CPA, Carol R. Kaufman, James R. Grimaldi, CPA and James A.J. Revels, CPA

October 2018 0

Because of the Tax Cuts and Jobs Act (TCJA), more individuals—90% of taxpayers, by some estimates—will decide to prepare their own tax returns. With the…

August 2018 Issue

Financial Planning for Workers in the Gig Economy

By  Sidney Kess, JD, LLM, CPA, James R. Grimaldi, CPA and James A.J. Revels, CPA

September 2018 0

The gig economy is a sector of the workforce in which people do not have long-term employment. Those in the gig economy are contingent workers—freelancers,…

August 2018 Issue

Financial Knowledge for Recent Graduates

By  Sidney Kess, JD, LLM, CPA, James R. Grimaldi, CPA and James A.J. Revels, CPA

September 2018 0

Young people are not taught enough about financial literacy. Schools do not teach kids the basics about the value of money, how to save, how…

July 2018 Issue

Getting Older Without Family

Addressing Personal, Legal, and Financial Concerns

By  Sidney Kess, JD, LLM, CPA, James R. Grimaldi, CPA, James A.J. Revels, CPA and Elizabeth Forspan, JD

July 2018 0

The American Association of Retired Persons (AARP) projects that by 2030, approximately 16% of women will be between 80 and 84 years old and childless…

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  • ICYMI | 15 Questions Answered about Flood Damage December 2019






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