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    QSub Election Does Not Increase Shareholder Stock Basis

    Article The Tax Court held that shareholders of an S corporation improperly increased the adjusted basis of their S corporation stock when the S corporation made a QSub election for its wholly owned C corporation subsidiary.
    Published on July 31, 2013

    A Case for Adding Personal Financial Planning Services to a CPA Practice

    Article This column explores why CPAs make excellent PFPs, why CPAs move into financial planning, how successful CPA/PFPs have made the move, and some of the challenges they face.
    Published on April 29, 2010

    Taxability of Debt Discharge Income

    Article In the current economic climate, it is likely that practitioners are encountering more clients with debt discharge income than in the recent past. Often, the question that comes up is, is it taxable income and if it is taxable, how should it be reported? Taxpayers will sometimes receive a 1099-C
    Published on June 01, 2011

    Uncertain Tax Position Reporting Looking More Likely

    Article IRS Announcement 2010-30 revealed the draft Schedule UTP for reporting Uncertain Tax Positions. The finalization of the Schedule seems to be on a fast track as comments must be submitted by June 1, 2010. The IRS proposes to require the Schedule for corporate return years beginning on or after December
    Published on January 28, 2011

    Current Developments in S Corporations (Part I)

    Article This article discusses recent legislation, cases, rulings, regulations, and other developments in the S corporation area for the period July 9, 2009–July 9, 2010. This part focuses on various S corporation operating provisions.
    Published on October 05, 2010

    In the Face of Terrorism and Natural Disasters

    Article Andrew was then. Now we have Katrina, tsunamis and terrorism. You never know when any of these will strike your city or hit a town near you. The last thing you want is a security breach of your clients’ information because of a lack of a good disaster recovery plan
    Published on January 28, 2011

    New Requirements for 2006 Business Filers

    Article Editor: John L. Miller, CPA When filing 2006 corporate tax returns, many businesses will encounter new IRS requirements that significantly affect how they file. Some filers of Forms 1120, U.S. Corporation Income Tax Return, and 1120S, U.S. Income Tax Ret
    Published on July 13, 2010

    Individual Taxation Digest of Recent Developments Part II

    Article This is the second of a two-part article covering recent developments affecting taxation of individuals, including regulations, cases, and IRS guidance.
    Published on April 16, 2014

    Reporting Dilemma Personal Use of Rental Properties

    Article Properly apportioning real estate expenses between personal and rental use presents several challenges.
    Published on July 23, 2013

    Managing New Schedule M-3 Disclosures

    Article The most recent change to Schedule M-3, for 2010 and following tax years, requires new disclosures of research and development (R&D) costs and Sec. 118 exclusions from income of nonshareholder contributions to capital for corporate filers.
    Published on August 24, 2012

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