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Here are your articles for Jan 26, 2018.

Patrick Mangan,a certified public accountant with Caler, Donten, Levine, Cohen, Porter &Veil (CDL), joined the Corporate Board of Directors of the Boys & Girls Club of MartinCounty.

Patrick,a Tax Senior Manager at CDL, will support the organization's mission to enableall young people to reach their full potential as productive, caring andresponsible citizens, and will provide leadership and strategic governance as amember of the Corporate Board. Boys& Girls Clubs of Martin County is well positioned to support and prepareyoung people for success and excels at reaching youth most in need with Clubs  located in Hobe Sound, Indiantown, Palm City, Port Salerno, Stuartand Jensen Beach. 




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Allyse Carter was announced as one of the Florida Institute of CPAs "Emerging Leader" graduates. The announcement was made during the Leader's Summit in Tallahassee in December.

Allyse, a certified public accountant with CDL since 2016, was one of 34 graduates from six regions throughout the state. As part of the program, Allyse met with local accounting leaders, government officials and leadership experts to network, learn best practices and build relationships. The program culminated with Allyse and fellow participants meeting with Florida senators and representatives in Tallahassee for an exclusive look at the legislative process and how it affects the CPA profession.





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On December 19, 2017, while most families were doing last minute holiday decorating, shopping and prepping, CDL's Rick Hoagland, his wife and family prepared for a lifesaving journey:   Rick's wife Donna, a teacher, traveled to Gainesville to donate her kidney to the mother of one of her students.

Because of the extraordinary circumstances, CBS News' Steve Hartman flew to Palm Beach County on December 12 to tape a story on Donna. The story aired on CBS Evening News on Friday, January 5 and on CBS News Sunday Morning on January 7.

Left to right:  CBS' Steve Hartman with Donna, Rick and Megan Hoagland at Marsh Pointe Elementary for the taping.  




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The so-called "kiddie tax" was designed to discourage high-income taxpayers from shifting income to children in lower tax brackets to reduce the family's overall tax bill. The kiddie tax can cause a portion of a dependent child's net unearned income to be taxed at higher rates than the regular rates for single taxpayers. The Tax Cuts and Jobs Act changes the kiddie tax rate structure for 2018 through 2025. Here's how.
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If a couple is getting a divorce, transfers of cash and property between them generally have no immediate federal tax consequences. Such tax-free transfers are allowed before the divorce at the time it becomes final — and afterwards if they're made as part of the divorce agreement. But you may be unaware that the rule doesn't apply to IRA balances, as illustrated by this U.S. Tax Court case.
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It doesn't matter where you are in the life span of your business. If you plan to sell someday or merge with another business — even years from now — you need to begin getting ready for the due diligence process. In today's environment, the M&A process is very detailed. Here is a list of issues that your business may be asked to document. The sooner you start preparing, the better.
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It's not unusual to lend money to relatives and friends, but if the loans aren't properly structured with an "adequate" interest rate, you could run into trouble with the IRS. Although interest rates have risen over the last year, today's rates are relatively low from a historic standpoint. Here are the current interest rates and how your family can benefit.
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