In my opinion, they are purchasing "goodwill" for their existing companies and the costs will be written off over 15 years under section 195. I don't see where they are purchasing anything that would...
It sounds like you have another one of those S corps with a loan on the books that was probably never a loan in the first place. Was there a note? Was interest paid or imputed? Were there...
The key is whether they were able to sell the house without the son's permission. If they needed his permission, it was a completed gift and one third of the proceeds are his. If the parents were...
2015 Year-End Tax Tips for Individuals
2105 Year-End Tax Tips for Businesses
Preparation Engagement Letter for SSARS No. 21
Compilation Engagement Letter Prepared-Tax Basis
Compilation Report of Comparative Financial Statements Omitted Disclosures
SSARS Illustrative Representation...
Letter to the IRS regarding the budget
Year-End Tax Tips for Businesses
The end of the year gives you and your business a great chance to maximize tax savings for 2015 and beyond. There are several general strategies to consider, such as use of traditional timing techniques for income...
The holiday season often prompts people to give money or property to
charity. If you plan to give and want to claim a tax deduction, there are a few
tips you should know before you give. For instance, you must itemize your
deductions. Here are six...
For Small Businesses: IRS Raises Tangible Property Expensing Threshold to $2,500; Simplifies Filing and Recordkeeping
The de minimis threshold in the tangible property regulations was raised today from $500 to $2,500 as a result of a meeting with...
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