Tax Blog

Our tax blog is dedicated to CFOs, Tax Directors and Business Owners looking to improve profitability, grow their business or implement a succession plan. At Armanino, we see the tax function as a key strategic tool—as nothing less than a vital means of moving you and your company forward. While we excel in making sure our clients meet regulatory requirements—both domestic and global—that just scratches the surface of what we do.

February 17, 2015

Should You Forgo a Personal Exemption so Your Child Can Take the American Opportunity Credit?

If you have a child in college, you may not qualify for the American Opportunity credit on your 2014 income tax return because your income is too high (modified adjusted gross income phaseout range of $80,000–$90,000; $160,000–$180,000 for joint filers), but your child might. The maximum credit, per student, is $2,500 per year for the …

January 20, 2015

Have You Had Your Annual Estate Plan Checkup?

An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction amounts are adjusted for inflation, they can change from year to year, impacting your plan: 2014 2015 Lifetime gift and estate tax exemption $5.34 million $5.43 million Generation-skipping transfer tax exemption $5.34 million $5.43 million …

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