If the company has a plan to reimburse her for the premiums, they are deductible as S/E health insurance under IRC Sec 162(l). Mark S Nelson Sr, EA, ABA Admitted to Practice before the Internal Revenue...
Joint vacation home sold and spouse died 4 weeks later - huge capital gains. Has anyone ever heard of a way to rescind a sale ?
Any additional thoughts or ideas?
It's three years from the (April 17th) due date of the original (i.e. 2012 tax year) return, including extensions (if any) for that same (2012) tax year. Your client's return was not extended,...
ClientRelate customers who have run the search associated with the Small Business Inventory Exception Service can send this letter to clients appearing on the search results list. (09/20/2016)
One of the highest priorities at the IRS is to protect taxpayer and tax preparer data as well as its systems. Starting in October, the IRS will strengthen the protection for e-services. As part of that effort, all users must re-register and validate...
IRS Definition of a Farm
IRC Section 2032A(e)(4): The term “farm” includes stock, dairy, poultry, fruit, furbearing animal, and truck farms, plantations, ranches, nurseries, ranges, greenhouses or other similar structures used primarily...
This post provides a brief overview of computing the effective tax rate and how certain business deductions/credits can significantly reduce the Effective Tax Rate to maximize business tax incentives. For a complete overview, tune in to the NSA Webinar...
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