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    Election to Treat Qualified Revocable Trust as an Estate and the Separate-Share Rules

    Article The election to treat a qualified revocable trust as an estate under Sec. 645 can result in some complicated accounting and tax consequences as well as some interesting tax planning opportunities because of the separate-share rules.
    Published on December 01, 2013

    Exclusion of Employer-Provided Cell Phones from Gross Income

    Article A recent IRS notice has cleared up confusion about whether employers may exclude the value of cell phones provided for employees’ use from gross income.
    Published on December 01, 2011

    Benefits of Interest Charge Domestic International Sales Corporations

    Article Taxpayers can use an interest charge domestic international sales corporation (IC-DISC) to obtain a tax incentive available to manufacturers, producers, resellers, and exporters of goods that are produced in the United States with an ultimate destination outside the United States.
    Published on December 01, 2014

    Land Sales Is the Taxpayer Considered a Dealer or Investor

    Article Recent court decisions are reminders that land may not always be a capital asset that gives rise to a capital gain when sold. Land may also be held for sale to customers in the ordinary course of business, in which case gain on the sale of the land will be
    Published on December 01, 2014

    The Power of Entertainment Tax Credits

    Article Many states have created tax credits to attract movie and television productions to their states. The most powerful incentives over the last decade have been state income tax credits.
    Published on December 01, 2013

    FBAR Reporting Considerations

    Article The National Taxpayer Advocate has estimated that 5 million to 7 million Americans live abroad and many more living in the United States may have foreign accounts. That presents both an opportunity and a challenge.
    Published on December 01, 2013

    Remodel or Rebuild How the Decision Could Affect the Sec. 121 Exclusion

    Article The recent Gates decision forces practitioners to reexamine the types of questions they ask a client during tax planning or their annual tax interview if the client has sold his or her personal residence.
    Published on December 01, 2010

    Unreported Offshore Accounts A Hidden Danger for Clients

    Article Criminal penalties for not reporting offshore accounts can be harsh. This item provides action steps for CPAs.
    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

    Planning for the New Medicare Taxes

    Article The recently passed 2010 health care reform legislation added two additional Medicare taxes intended to help pay for the new legislation. This item looks at the details of both the 3.8% investment income tax and the 0.9% hospital insurance tax increase and reviews some of the effects they will have
    Published on December 01, 2010

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