Uncertainty Governs Advance Trade Discounts
This article discusses conflicting court opinions and IRS guidance on advance trade discounts and the merits of treating them as purchase price adjustments instead of income or loans
Published on February 01, 2008
Mail-Order Book Seller Has Nexus with State
The Tennessee Court of Appeals held that a corporation that sells books and other publications through the mail to students in schools and home-schooled students had substantial nexus with Tennessee because teachers and parents of the students purchasing the books and publications assisted in ordering and distributing them.
Published on April 01, 2012
Guidance Issued on Interest Exceeding Acquisition and Home Equity Indebtedness Limitations
The IRS recently released guidance for allocating excess mortgage interest expense.
Published on May 01, 2012
Creating a Private Foundation to Meet Charitable Goals
This column assesses the advantages and disadvantages of using a private foundation to meet charitable goals.
Published on July 01, 2011
Protecting the Elderly from Financial Abuse
This column explores the warning signs of senior fraud and offers suggestions for identifying those signs and resources for guidance in handling such situations.
Published on April 01, 2010
Once upon a time there were two companies, Hare Industries and Tortoise Enterprises. Both companies were reasonably successful, comfortably profitable, privately owned companies. Seeking ways to share ownership with employees, both company’s owners and managers sought advice from professionals.
Published on May 16, 2011
Sec. 1033 Can Allow for Flexible Tax-Free Reinvestments
This item discusses tax strategies taxpayers can use in dealing with the involuntary conversion of real property. Under Sec. 1033, a taxpayer can elect to defer the gain on the conversion of such property if the property is replaced by, or the proceeds are reinvested in, similar or related use
Published on October 01, 2011
Integrating Modern World Tax Issues into the Classroom
This column reviews the benefits of interdisciplinary and integrated coursework, suggests three aspects of the modern world that should engage students and draw on their knowledge gained outside the classroom, and suggests ways to incorporate the topics into a tax course.
Published on May 01, 2009
Sec. 382 After the Bailout
Treasury issued several notices as part of the government's response to the economic crisis. The notices allow relief from Sec. 382 for loss corporations acquired under TARP. They also provide relief for obligations and other securities issued by Fannie Mae and Freddie Mac in the recent bailout.
Published on June 01, 2009
Significant Recent Corporate Developments
This article summarizes selected income tax developments during the past year affecting corporations, including those that file consolidated returns.
Published on January 01, 2008