Leasing Business Autos

Article:  Automobile leases have certain advantages. They require a minimal investment and are convenient if the customer replaces the car every two or three years. With a lease, there is no hassle with selling or trading in the car. Instead, the lease customer simply drops it off at the end of
Published on January 28, 2011

Some Implications of 100% Bonus Depreciation

Article:  This item discusses optimization of the 100% bonus depreciation deduction, highlighting some of its implications and peculiarities.
Published on April 17, 2012

Reminder Support Your Auto Expense

Article:  ...Editor: Michael D. Koppel, CPA, PFS Auto expenses are a very common deduction for business owners and employees who must travel. Often the taxpayer does not know the exact amounts necessary to calculate the proper deduction and the tax preparer...
Published on May 03, 2010

Obtaining Accountable Plan Status for Tool Reimbursement Plans

Article:  The tax treatment of tool reimbursement plans has long been a point of contention for businesses that require employees to provide their own tools. Now the IRS has shown a way to obtain that tax-favored status
Published on October 05, 2010

Contributions Increase Shareholders S Corporation Basis

Article:  The Tax Court held that shareholders in two related S corporations could increase their basis in one of the corporations by contributing assets to it that they had received in a distribution from the other corporation.
Published on August 01, 2012

Providing Sec. 132 Fringe Benefits to S Corporation Employees

Article:  S corporations can offer employees the same fringe benefits as other business entities; however, so-called 2% shareholders are treated as partners for fringe benefit purposes. Work related fringe benefits are an exception
Published on November 30, 2012

Tax Advantaged Accountable Plans for Employee Business Expenses

Article:  Employers encounter numerous issues in reimbursing employees for their business expenses. The employer cost of reviewing the supporting documentation, corresponding with employees and issuing a reimbursement check can be as high as $50 per reimbursement check. Furthermore, even with...
Published on January 28, 2011

Drop Shipments and Flash Title Establishing Sales Tax Nexus in Complex Commercial Transactions

Article:  This column discusses substantial and attributional nexus and examines how nexus is asserted for sales and use tax purposes in drop shipment and flash title transactions.
Published on January 28, 2011

Exempt Organization Online Search Tool Introduced

Article:  The IRS announced that taxpayers can find information about tax-exempt organizations in a new online search tool called Exempt Organizations Select Check.
Published on April 30, 2012

The Next Case of Madoff Disease

Article:  When clients rely on just the word-of-mouth reputations of investment professionals within their social groups, they miss out on the healthy skepticism and due diligence exercised by an advanced planning group. A referral from a successful friend may be a great place to start, but it’s only a start.
Published on January 28, 2011

Fixed-Asset Implications Under the American Taxpayer Relief Act of 2012

Article:  The American Taxpayer Relief Act of 2012 contains many provisions that are favorable to businesses, particularly in the fixed-asset area
Published on April 30, 2013

Treasury Provides Roadmap for Shift in Tax Burden

Article:  On May 11, 2009, Treasury released General Explanations of the Administration’s Fiscal Year 2010 Revenue Proposals.
Published on January 28, 2011

Is Your Business Card Hurting Your Business

Article:  Even more than your website, your business card is the single most important marketing material you have. It’s low cost, most kept and most handed out to potential clients (by you and referral sources). Ironically...
Published on January 28, 2011

Current Corporate Income Tax Developments (Part I)

Article:  This article focuses on some of the more interesting items in the following corporate income tax areas: nexus; Sec. 338(h)(10) transactions; allocable/apportionable income; and tax base.
Published on May 10, 2010

The Blurred Line Between Production and Handling Costs

Article:  On September 15, 2009, the IRS announced in a field directive that it was temporarily suspending the examination of Sec. 263A (UNICAP) issues involving automobile dealerships. The suspension will end on December 31, 2010.
Published on January 28, 2011