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    Net Operating Loss and Unrealized Investment Gain Tax Provision Benefit

    Article This item reviews an anomalous situation that occurs in some cases under ASC ¶740-20-45-7 for entities generating NOLs with an investment portfolio.
    Published on December 01, 2011

    The Part Sale, Part Gift Trap for Nearly Worthless Securities

    Article This item discusses a trap for the unwary when the part gift, part sale rule applies.
    Published on December 01, 2011

    Update on the Medical Device Excise Tax

    Article The medical device excise tax with its complex regulations and reporting requirements essentially amounts to a sales tax on members of a targeted industry group regardless of whether they have profits.
    Published on December 01, 2014

    Crop Insurance Proceeds Appropriate Tax Planning Strategies

    Article The severe drought experienced by much of the United States this year, especially in agricultural regions, is expected to produce a record number of crop insurance claims.
    Published on December 01, 2012

    Short Sales of Investment Real Property

    Article This item addresses a situation that often arises in today’s economic climate: a short sale of real property held for investment, not for rental, secured by a recourse note.
    Published on December 01, 2011

    Only Smallest Charitable Trusts Benefit From Streamlined Application

    Article The IRS issued a streamlined application for recognition of tax-exempt status; however, an organization cannot use Form 1023-EZ if its assets exceed $250,000 or its annual gross receipts are more than $50,000.
    Published on December 01, 2014

    Receipt of Form 1099-C May Not Signal Taxable COD Income

    Article It is up to the taxpayer and his or her advisers to correctly identify the appropriate year in which to recognize COD income based on the date it is clear the debt will not be repaid.
    Published on December 01, 2012

    Capital Construction Funds Program

    Article The Capital Construction Funds program encourages construction, reconstruction, or acquisition of vessels by allowing owners or operators to defer federal income taxes under Sec. 7518 on certain money or other property placed into a CCF.
    Published on December 01, 2011

    Complex Foreign Reporting Rules Make Compliance Difficult for Individual Taxpayers

    Article Certain foreign reporting requirements may not be well-known by individual taxpayers; therefore, these reporting requirements may be overlooked, causing those individuals to bear heavy penalties for noncompliance.
    Published on December 01, 2014

    GRATs in 2010 Still a Viable Estate and Gift Tax Planning Option

    Article This item describes the use of the grantor-retained annuity trust (GRAT) in estate and gift planning.
    Published on December 01, 2010

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