Reasons for S corp switch
Changing from a C corporation setup to the S corporation setup can be beneficial, but there are numerous factors to consider. With the March 15, 2011 deadline for 2011 fast… Read More »Reasons for S corp switch
News
Appeals… Resolving Tax Disputes
Is Appeals right for you? The Appeals mission is to settle tax disagreements without having to go to Court and a formal trial. Appeals is here to assist you if… Read More »Appeals… Resolving Tax Disputes
Alternative Motor Vehicle Credit
The Alternative Fuel Motor Vehicle Credit was enacted by the Energy Policy Act of 2005 and includes separate credits for four distinct categories of vehicles: Qualified Hybrid Vehicles, Qualified Fuel… Read More »Alternative Motor Vehicle Credit
Closing a Business
There are typical actions that are taken when closing a business. You must file an annual return for the year you go out of business. If you have employees, you… Read More »Closing a Business
Tax angles on donated ‘clunkers’
The hugely popular cash-for-clunkers program ended Aug. 25, 2009. This new program enabled vehicle owners to realize a tax-free discount of up to $4,500 on a trade-in. But you can… Read More »Tax angles on donated ‘clunkers’
Can you reconvert an IRA?
Suppose you converted your IRA to a Roth IRA just before the bottom fell out of the stock market last year. Because the tax liability for the conversion is based… Read More »Can you reconvert an IRA?
Donate IRA funds to charity
Time is running out on a unique tax break for older taxpayers with charitable intentions. If you donate funds directly from your IRA to a qualified charity of your choice,… Read More »Donate IRA funds to charity
Medicare Tax: Start Planning Ahead
The significant new health care legislation imposes a unique “payroll tax” on investment income. At least the new tax doesn’t kick in until 2013 providing an opportunity for advance planning.… Read More »Medicare Tax: Start Planning Ahead
New tax breakthrough for LLCs
An important new Tax Court case could provide valuable tax savings for owners of limited liability corporations (LLCs) and partners in limited liability partnerships (LLPs). The decision permits a couple… Read More »New tax breakthrough for LLCs
Produce big manufacturing deductions
The so-called “manufacturing deduction” isn’t just limited to companies that manufacture products in the traditional sense of the word. It’s available to a wider range of business operations than you… Read More »Produce big manufacturing deductions
Built-in Gains Tax
The Tax and Accounting office of Certified Public Accountant can assist you in choosing the right legal form for your business. Choosing the proper business entity is a complex matter,… Read More »Built-in Gains Tax
Plan Ahead: New 1099 rules
The new health insurance legislation imposes significant new tax reporting requirements. In essence, you will have to report most annual payments for goods and services exceeding $600 — including payments… Read More »Plan Ahead: New 1099 rules