Articles

You might need to have more money withheld from your paycheck

  By Susan Tompor, Detroit Free Press Personal Finance Columnist Before you blink, half of the year will be gone. But […]

Departing Aliens and the Sailing Permit

By Karl L. Fava, CPA    July 1, 2017 Sec. 6851(d) indicates that no alien, subject to exceptions by regulations, […]

Dearborn accountant tapped to work with IRS committee

Dearborn Press & Guide   Published: Thursday, June 23, 2016 Karl L. Fava, founder and president of Dearborn-based Business Financial Consultants, […]

Power of Attorney and Declaration of Representative

By Karl L. Fava, CPA, and Arthur Auerbach, CPA April 1, 2016 Form 2848, Power of Attorney and Declaration of […]

Businessman pledges donation to HFC based on mountain climb

Dearborn Press & Guide   Published: Thursday, March 10, 2016 Dearborn-based accountant Karl Fava donated $12,000 to the Henry Ford College Foundation. […]

Dearborn accountant supports cycling program

Dearborn Press & Guide   Published: Monday, January 19, 2015 A local bicyclist has given a helping hand to a charity […]

Rolling Over Your IRA? IRS Clarifies Rule

By Gabrielle Karol        Published November 12, 2014      FOXBusiness The Internal Revenue Service offered guidance this week on the new rules […]

Individual Taxation: Digest of Recent Developments Part 2

 Published April 01, 2014  by David R. Baldwin, CPA; Lawrence H. Carlton, CPA; Karl L. Fava, CPA; Donna Haim, CPA; […]

Individual Taxation: Digest of Recent Developments Part 1

Published March 01, 2014 by Karl L. Fava, CPA, David R. Baldwin, CPA; Lawrence H. Carlton, CPA; Donna Haim, CPA; […]

Individual Tax Report

by  Karl L. Fava, CPA, Jonathan Horn, CPA, Daniel T. Moore, CPA, Susanne Morrow, CPA, Annette Nellen, J.D., CPA, Teri […]

Conservation easement tax donation update

Strict compliance with regulations is essential to defend deduction. BY KARL L. FAVA, CPA MAY 2013 Journal of Accountancy The […]

Tax Q&A: How to avoid penalties on estimated taxes

USA TODAY readers submitted tax questions, and here are the answers from members of the American Institute of Certified Public Accountants.    […]

Developments in Individual Taxation

The Tax Adviser Published March 01, 2013      by Karl L. Fava, CPA; Jonathan Horn, CPA; Daniel T. Moore, CPA; Susanne Morrow, […]

The Taxing Side of Refinance

Las Vegas Review Journal  Posted  December 25, 2012 If you’ve refinanced lately, congratulations. You’ve undergone the tough scrutiny of a […]

Individual Tax Update

by Karl L. Fava, CPA; Edward A. Gershman, CPA; Janet C. Hagy, CPA; Jonathan Horn, CPA; Daniel T. Moore, CPA; […]

Investing: How to get Catastrophe Tax Deduction

John Waggoner, USA TODAY  November 5, 2012 Thanks to Superstorm Sandy, you’ve got cod in your basement, your roof is […]

CPAs Devise Multiple Tax-Planning Scenarios Given Inaction by Congress

Bloomberg By Heather M. Rothman         Publication Date: 08/20/2012 Accountants are advising their clients to formulate more than one tax-planning […]

HFCC Student Lynn Stein Awarded Doreen and Karl Fava Endowed Scholarship

HFCC Foundation  June 3, 2013 Romulus resident Lynn Stein, an HFCC student majoring in accounting and international business, gratefully acknowledges […]

Individual Taxation Developments

by Ellen Cook, MS, CPA; Karl L. Fava, CPA; Edward A. Gershman, CPA; Janet C. Hagy, CPA; Jonathan Horn, CPA; […]

Henry Ford Community College Foundation announces the 2011 ‘Distinguised Volunteer’

Press & Guide Published: Wednesday, December 21, 2011 DEARBORN — Karl Fava of Dearborn is the Henry Ford Community College […]

Credit Union helps out Dearborn Goodfellows

Press & Guide Published: Monday, December 26, 2011 Christine Clark Marketing Director, of MemberFocus Community Credit Union presents mittens to […]

Year-End Individual Taxation Report

by Ellen Cook, MS, CPA; Karl L. Fava, CPA; Edward A. Gershman, CPA; Janet C. Hagy, CPA; Jonathan Horn, CPA; […]

Planning for the New 3.8% Medicare Tax on Unearned Income

by Karl L. Fava, CPA, CVA, MBA, and Kenneth L. Rubin, CPA     Published July 01, 2011                               Effective in 2013, the […]

Tax Relief for Homeowners With Corrosive Drywall

IRS safe harbor offers clear method to claim deduction. By KARL L. FAVA, CPA, ELLEN WEISS, ESQ. and ROBERT E. […]

Local CPA appointed to national panel to review taxation regulations, laws

Press & Guide Published: Saturday, February 05, 2011 DEARBORN — Karl L. Fava, founder and president of Dearborn-based Business Financial […]

HFCC honors Karl Fava at 2010 commencement

Press & Guide Published: Tuesday, May 04, 2010 DEARBORN — Henry Ford Community College (HFCC) will hold two commencement ceremonies […]

Expatriation and the New Mark-to-Market Rules

by Karl L. Fava, CPA, MBA    Published July 01, 2009                                      EXECUTIVE SUMMARY Under Sec. 877A, expatriating taxpayers are […]

Tools for Tax Planning for Foreign Nationals

by Laura K. Barooshian and Karl L. Fava    Published June 01, 2008                                      Navigating through the complex tax rules […]

Tax Act of 2003 – Planning Opportunities

By Karl L. Fava, CPA as appeared in the November, 2003 edition of Staff Forum, (UAW International Staff Council), Volume […]

Tax Benefits for Graduate Students

By Karl L. Fava, CPA And Thomas P. Hubbard as appeared in the March 10, 2003 edition of The Chicago Business, […]

Year End Tax Planning

By Karl L. Fava, CPA as appeared in the November, 2002 edition of Staff Forum, (UAW International Staff Council), Volume […]

The Tax Relief Act of 2001

By Karl L. Fava, CPA as appeared in the July, 2001 edition of Staff Forum, (UAW Int’l Staff Council), Volume […]

New Year’s Resolution! – Financial Planning & Budgeting

By Karl L. Fava, CPA as appeared in the December, 2001 edition of Staff Forum, (UAW International Staff Council), Volume […]

Commission recommends raise for clerk; same pay for mayor, council

By J. Patrick Pepper  Times-Herald/Sunday Times July 29, 2009 DEARBORN — An advisory committee voted Tuesday to raise the pay […]

Changing Jobs May Create Tax Deductions

by Karl L. Fava, CPA as appeared in the Career Central for the month of February, 1999 Often overlooked is […]

B-School Tax Deductions After TRA 1997

by Jill L. Bielaczyc-Meredith as appeared in the Monday, February 1, 1999 edition of The Wharton Journal, (Volume 43, Number […]

R.O.I. From an M.B.A. is in THE T.A.X.

by Karl L. Fava, CPA as appeared in the MBA Career Central for the month of January, 1998, (Issue #1) […]

The 1997 Tax Act Benefits Students and MBAs

by Karl L. Fava, CPA as appeared in the Monday, February 2, 1998 edition of The Wharton Journal, (Volume 42, […]

The Cost of an MBA May be Tax Deductible

by Karl L. Fava, CPA as appeared in the Spring, 1997 edition of The Bottom Line, (Fuqua School of Business) […]

Take Steps Now To Pay Less Taxes

By Karl L. Fava, CPA as appeared in the January, 1996 edition of Crains Business – Detroit As a business […]

Can I Deduct My MBA Expenses?

by LeAnne M. Matthews as appeared in the Monday, March 4, 1996 edition of The Wharton Journal, (Volume 40, Number […]