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  • Posted in: Tax Talk

    Sole Shareholder of an S-Corp took $100000 of distributions with no basis (zero basis from last year and is a trucking company which bought 3 large trucks & has $200000 of regular depreciation to give ...

  • Posted in: Tax Talk

    When I worked for the good old government and did a lot of travelling on my credit card, I was instructed to make sure that when I received my spiff for using the card that I report the funds to the IRS ...

  • Posted in: Tax Talk

    If titled as individual, there are no specific reporting on the purchase of the property; disposition later on requires inclusion of any gain on the TP's US tax return. The escrow account generally requires ...

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