Wipfli: Blog: TaxThink

Schedule F Audit Activity Likely to Increase

Fri, 10 Mar 2017 00:00:00 GMT

An IRS audit isn’t the end of the world

Fri, 03 Mar 2017 00:00:00 GMT

Increase in the de minimis safe harbor for tangible property helps small businesses

Fri, 10 Feb 2017 00:00:00 GMT

If your business regularly purchases products like personal computers, small equipment or mobile devices, you’ll be happy to learn that accounting for these transactions may now be easier. IRS Notice 2015-82, issued late in 2015, increased the de minimis safe harbor for deducting (rather than capitalizing) the amounts paid to acquire, produce or improve tangible property from $500 to $2,500 per item for small businesses that don’t have “applicable financial statements.”

Sales Tax Reporting Laws: Many Changes Expected in 2017

Wed, 25 Jan 2017 00:00:00 GMT

Property Tax Reporting of Leasehold Improvements in Wisconsin and States That Tax Personal Property

Wed, 25 Jan 2017 00:00:00 GMT

2017 Pennsylvania Tax Amnesty Program

Tue, 24 Jan 2017 00:00:00 GMT

Hot Topic for Wisconsin Nonprofits – Expansion of Occasional Sales Rules

Tue, 24 Jan 2017 00:00:00 GMT

Is a Calendar Year or Fiscal Year Better for Your Business?

Fri, 20 Jan 2017 00:00:00 GMT

Addressing Prior-Year Exposure Issues: Voluntary Disclosure Agreement Versus Tax Amnesty

Thu, 29 Dec 2016 00:00:00 GMT

Addressing Prior-Year Exposure Issues: Nexus Studies

Thu, 22 Dec 2016 00:00:00 GMT

Do You Know the Tax Impact of Your Collectibles?

Fri, 16 Dec 2016 00:00:00 GMT

Extension of Due Date for Furnishing Statements to Participants of Forms 1095 and Related Relief

Mon, 28 Nov 2016 00:00:00 GMT

Mobile Workforce Alert

Fri, 18 Nov 2016 00:00:00 GMT

Captive Insurance Transactions Declared "Transactions of Interest” by the IRS

Thu, 10 Nov 2016 00:00:00 GMT

Lowering Tax Liability in Stock Trading

Fri, 04 Nov 2016 00:00:00 GMT

2016 Federal Tax Update: The Calm Before the Storm (WICPA)

Mon, 24 Oct 2016 00:00:00 GMT

3 Year-End Tax-Planning Tips for Business Owners

Thu, 20 Oct 2016 00:00:00 GMT

Form 1095-C Error Message: Missing or wrong SSN/TINs

Tue, 11 Oct 2016 00:00:00 GMT

Taxation of Software Downloads: Infrastructure and Platform as a Service

Tue, 27 Sep 2016 00:00:00 GMT

Taxation of Software Downloads: Software as a Service

Tue, 20 Sep 2016 00:00:00 GMT

Taxation of Software Downloads: Canned Software

Fri, 16 Sep 2016 00:00:00 GMT

On the Right Path - Adjustments to Depreciation Rules

Tue, 30 Aug 2016 00:00:00 GMT

What’s an IC-DISC and why would you want one?

Thu, 18 Aug 2016 00:00:00 GMT

New IRS Proposed Rules Severely Limit Wealth Transfer Techniques

Thu, 11 Aug 2016 00:00:00 GMT

Wisconsin Manufacturers: Upcoming Property Tax Assessment Appeal Deadline

Wed, 20 Jul 2016 00:00:00 GMT

Even though Forms M-P and M-R were filed by April 1, the formal notices usually are not issued until early June. In April and May, the state assessors are desk auditing the return data and reviewing real estate sales and comparables. When the formal notice is issued, the property owner has 60 days to formally appeal to the State Board of Assessors.

If you miss this deadline, it is virtually impossible to adjust the value when the actual tax bill is issued in December.

How to Prepare for the Ensuing IRS Enforcement Staffing Increase

Fri, 15 Jul 2016 00:00:00 GMT

Should your auditor do your taxes?

Tue, 21 Jun 2016 00:00:00 GMT

IRS Partnership Audit Rules are Changing

Fri, 10 Jun 2016 00:00:00 GMT

IRS continues to crack down on corporate inversions

Thu, 05 May 2016 00:00:00 GMT

What’s the tax impact of owning a vacation home?

Tue, 26 Apr 2016 00:00:00 GMT

Excise Taxes – What Are You Missing?

Mon, 18 Apr 2016 00:00:00 GMT

Tax Return Changes are Just Around the Corner

Tue, 12 Apr 2016 00:00:00 GMT

Sales and Use Tax Return Filings: Understanding and Avoiding the Impact of Negligence Penalties

Wed, 30 Mar 2016 00:00:00 GMT

Assessing the Taxability of Advertising Service Purchases can be Tricky

Mon, 21 Mar 2016 00:00:00 GMT

Are You Monitoring Your Advertising Purchases for Proper Taxability?

Thu, 17 Mar 2016 00:00:00 GMT

State Tax Filings – Important Year-End Tax Review Tips

Fri, 04 Mar 2016 00:00:00 GMT

How to Recover Your Stolen Tax Identity

Thu, 25 Feb 2016 00:00:00 GMT

Don't Ignore the Domestic Production Activities Deduction - It May Work For You

Tue, 16 Feb 2016 00:00:00 GMT

“Re-Energized” Tax Credits That Will Keep Businesses Warm This Winter

Tue, 09 Feb 2016 00:00:00 GMT

“Re-Energized” Tax Credits That Will Keep Homeowners Warm This Winter

Tue, 02 Feb 2016 00:00:00 GMT

Compensating Owners - Is Your Company at Risk?

Fri, 15 Jan 2016 00:00:00 GMT

IRS Extends Due Dates of Forms 1094-B/C and 1095-B/C

Thu, 31 Dec 2015 00:00:00 GMT

Research Tax Credit is Permanently Extended and Enhanced

Fri, 18 Dec 2015 00:00:00 GMT

Employee vs. independent contractor: Make sure you get it right

Mon, 07 Dec 2015 00:00:00 GMT

Got Kids? Then you need a good tax advisor

Thu, 12 Nov 2015 00:00:00 GMT

2015 Federal Tax Update: IRS Double Standards Pushing Tax Practitioners to the Brink! (PKF North America Summit)

Fri, 06 Nov 2015 00:00:00 GMT

2015 Federal Tax Update: IRS Double Standards Pushing Tax Practitioners to the Brink! (WICPA)

Thu, 05 Nov 2015 00:00:00 GMT

2015 Federal Tax Update: IRS Double Standards Pushing Tax Practitioners to the Brink! (elliott davis decosimo)

Wed, 04 Nov 2015 00:00:00 GMT

Be in the know when it comes to travel expenses

Fri, 23 Oct 2015 00:00:00 GMT

Use Tax Issues When Selling a Business

Thu, 15 Oct 2015 00:00:00 GMT

Sales Tax Issues When Selling a Business

Thu, 08 Oct 2015 00:00:00 GMT

Tax Issues When Selling a Business

Thu, 01 Oct 2015 00:00:00 GMT

SALT-ED Q&A: How do I avoid paying sales tax on the purchase of exempt items?

Fri, 18 Sep 2015 00:00:00 GMT

SALT-ED Q&A: How Do You Claim the Exemption for Utilities Used in Manufacturing/Industrial Processing?

Tue, 28 Jul 2015 00:00:00 GMT

Benefits of Hiring Your Children

Wed, 15 Jul 2015 00:00:00 GMT

SALT-ED Q&A: When is the proper time to contest the assessed value on my property tax bill?

Fri, 12 Jun 2015 00:00:00 GMT

Are You Properly Classifying Workers?

Fri, 22 May 2015 00:00:00 GMT

Most Common Sales and Use Tax Audit Adjustments

Tue, 05 May 2015 00:00:00 GMT

What We’re Watching Now: The Mobile Workforce State Income Tax Simplification Act

Thu, 09 Apr 2015 00:00:00 GMT

Watch Out! FATCA requires disclosures of foreign accounts

Wed, 01 Apr 2015 00:00:00 GMT

Work Opportunity Tax Credit (WOTC)

Fri, 27 Mar 2015 00:00:00 GMT

What We’re Watching Now: The Illinois Manufacturer’s Purchase Credit

Fri, 20 Mar 2015 00:00:00 GMT

Did You Take Advantage of the Tax Increase Prevention Act of 2014?

Mon, 09 Mar 2015 00:00:00 GMT

Tax breaks you can get from Uncle Sam when caring for a parent

Fri, 20 Feb 2015 00:00:00 GMT

Automating and Simplifying Your Sales Tax Compliance

Fri, 13 Feb 2015 00:00:00 GMT

Ten Tips to Help Navigate Sales Tax Treatment of Technology Solutions

Mon, 02 Feb 2015 00:00:00 GMT

Tax Alert: President Obama proposes “Simpler, Fairer Tax Code That Responsibly Invests in Middle Class Families."

Tue, 20 Jan 2015 00:00:00 GMT

Tips to Manage Your Sales and Use Tax Audit

Thu, 15 Jan 2015 00:00:00 GMT

Handling a Sales and Use Tax Audit

Tue, 13 Jan 2015 00:00:00 GMT

SALT-ED Q&A: When do I pay taxes in another state?

Wed, 07 Jan 2015 00:00:00 GMT

Developments in Estate Planning

Mon, 05 Jan 2015 00:00:00 GMT

2014 Tax Planning Opportunities

Mon, 29 Dec 2014 00:00:00 GMT

2014 Tax Planning: Repair Regulations & Affordable Care Act

Thu, 18 Dec 2014 00:00:00 GMT

2014 Tax Planning: Extender Legislation

Tue, 16 Dec 2014 00:00:00 GMT

What We’re Watching Now: The Wisconsin Manufacturing and Agriculture Credit

Thu, 11 Dec 2014 00:00:00 GMT

Corporate Anti-Inversion Developments

Tue, 09 Dec 2014 00:00:00 GMT

SALT-ED Question & Answer

Tue, 02 Dec 2014 00:00:00 GMT

Are You Complying With Unclaimed Property Reporting Requirements?

Tue, 18 Nov 2014 00:00:00 GMT

U.S. Tax Competitiveness Ranking

Thu, 13 Nov 2014 00:00:00 GMT

2014 Federal Tax Update: IRS Reaches the “Tipping Point” (PKF North American Summit)

Wed, 05 Nov 2014 00:00:00 GMT

Top Ten Red Flags for a Sales Tax Audit

Tue, 04 Nov 2014 00:00:00 GMT

2014 Federal Tax Update: IRS Reaches the “Tipping Point” (WICPA)

Tue, 04 Nov 2014 00:00:00 GMT

What We’re Watching Now: The Marketplace and Internet Tax Fairness Act

Thu, 04 Sep 2014 00:00:00 GMT

Comprehensive Tax Reform Proposals Would Significantly Raise Your Taxes

Wed, 26 Feb 2014 00:00:00 GMT

2013 Federal Tax Update: Getting Ready for the Largest Tax Increases in a Generation (WICPA)

Tue, 29 Oct 2013 00:00:00 GMT

2013 Tax Seminar: Getting Ready for the Largest Tax Increases in a Generation (CPAAI)

Mon, 28 Oct 2013 00:00:00 GMT

Gain from Related Party Installment Sales May Be Accelerated

Mon, 30 Sep 2013 00:00:00 GMT

Even when a sale to a related person qualifies for installment treatment, some or all of the gain will be accelerated if the buyer disposes of the property within two years.

New Repair Regulations Upend Decades of Settled Law and Significantly Increase Administrative Burdens

Mon, 16 Sep 2013 00:00:00 GMT

In a fitting manner, IRS released comprehensive final regulations governing what constitute a repair on Friday the 13th.

Consult your tax advisor first to avoid losing tax benefits

Mon, 25 Mar 2013 00:00:00 GMT

Small and seemingly minor decisions can have a major impact on your federal and state tax burden.

Anti-taxpayer Tone Increases at IRS as IRS is Now Wavering on Intentionally Defective Grantor Trusts

Wed, 09 Jan 2013 00:00:00 GMT

In February 2012, the President’s Revenue Proposals for Fiscal Year 2013 included a provision to eliminate intentionally defective grantor trusts. This was the first time that this provision has been floated.

2012 Federal Tax Update: We’re Going Over the Cliff!!!

Wed, 07 Nov 2012 00:00:00 GMT

On November 13, 2012, I have the pleasure of presenting my annual tax update at the PKF North American Summit in San Francisco.

2012 Federal Tax Update: We’re Going Over the Cliff!!!

Wed, 24 Oct 2012 00:00:00 GMT

On November 1, 2012, I have the pleasure of presenting my annual tax update at the WICPA Tax Conference in Milwaukee, Wisconsin. The format will be the same as last year with the key points summarized in a Powerpoint presentation which then references the page numbers in the more detailed outline.

2012 Federal Tax Update: We’re Going Over the Cliff!!!

Tue, 23 Oct 2012 00:00:00 GMT

On October 30, 2012, I have the pleasure of presenting my annual tax update at the Decosimo 2012 Tax Seminar in Chattanooga, Tennessee. The format will include a half-day Federal Tax Update in the morning, followed by a half day of breakout sessions offered in the afternoon featuring both a Tax Track and a Business Leaders Series Track.

The Committee for a Responsible Federal Budget Responds to Joint Committee of Taxation “Experiment”

Wed, 17 Oct 2012 00:00:00 GMT

On October 15, the Committee for a Responsible Federal Budget (CRFB) issued a response to the highly unusual “experiment” discussed in a letter sent to Senate Finance Committee leaders saying that if several major tax preferences are ended and revenue neutrality is maintained, statutory rates could be lowered by only 4 percent. A number of commentators used the letter as “proof” that Mitt Romney’s tax proposals will not work. The CRFB issued its paper to demonstrate why such conclusions are false and to illustrate why most comparisons between the JCT experiment and existing comprehensive tax reform plans are highly misleading.

The Joint Committee of Taxation Releases Highly Unusual “Experiment”

Tue, 16 Oct 2012 00:00:00 GMT

On October 12 the Joint Committee on Taxation (JCT) sent a letter to Senate Finance Committee leaders saying that if several major tax preferences are ended and revenue neutrality is maintained, statutory rates could be lowered by only 4 percent. Funny thing is, apparently no one asked the JCT to perform this highly unusual “experiment” a month before the election.

Cutting Edge Strategies to Save Taxes During Uncertain Times

Thu, 27 Sep 2012 00:00:00 GMT

On Friday, September 28^th, I have the privilege of presenting at the 49^th Annual Fall Seminar at the Estate Planning Council of Northeast Wisconsin. Based on the attendance list, I need to bring my “A game” because this is a group of folks that know the business and the need to add value every time they touch a client. Hope to see you there – if not read on.

Don't be Fooled by Phony Arguments

Wed, 22 Feb 2012 00:00:00 GMT

The Obama Administration is expected to release a provision to reduce the top corporate tax rate to 28% (from 35%). This will lead to all kinds of “experts” saying this will result in businesses converting from passthroughs to regular C corporations. This is an inaccurate statement when you factor in all of the disadvantages of C corporations.

President's 2013 Budget - More of the Same

Tue, 14 Feb 2012 00:00:00 GMT

My commentary on key proposals that President Obama's released his Fiscal 2013 Budget which includes over 100 proposed tax changes.

10 Powerful Tax Planning Ideas You May Have Overlooked - PKF North American Summit

Mon, 14 Nov 2011 00:00:00 GMT

On November 14, I presented to an group of fabulous tax professionals at the PKF North American Summit in Washington DC. It was great to see everyone again and to renew old friendships. More importantly, we had time to share ideas and look for ways to add value to our clients. My presentation reviewed 10 often overlooked ideas.

WICPA’s 75th Annual Tax Conference Presentation

Sun, 30 Oct 2011 00:00:00 GMT

Rick's 20th annual tax update presentation at the WICPA’s 75th Annual Tax Conference.

2011 Federal Tax Update: Back to the Future (Again)

Sun, 23 Oct 2011 00:00:00 GMT

Rick's Annual Tax Update presentation at the CPA Associates International 54th Annual meeting. This presentation focuses on the relation of current year developments (whether legislative, judicial, or regulatory) to practical planning that will help you add value to your clients.

Installment Sales Treatment Generally Unavailable for Related Party Sales

Wed, 19 Oct 2011 00:00:00 GMT

The installment method of reporting income generally is unavailable for sales of depreciable property between related parties. Related parties may include individuals for purposes of denying installment sales treatment.

Unexpected Tax Consequences of Related Party Sale Requires Careful Navigation

Wed, 27 Jul 2011 00:00:00 GMT

Normal tax rules are suspended in the case of certain sales between related parties. Related party sales generally create negative tax consequences for sellers including recharacterizing capital gains as ordinary income, denying installment sales reporting, disallowing realized losses and restricting the use of like-kind exchanges.

Reduction in Key IRS Interest Rate for June Offers Planning Opportunities

Fri, 27 May 2011 00:00:00 GMT

The interest rate that must be used by taxpayers to calculate the amount of taxable gifts when using certain planning strategies will decline to 2.8% for transfers made during the month of June. This reduction generally benefits taxpayers looking to transfer assets to their junior family members.

2011 Auto Depreciation Deduction Limitations - IRS Gives Certain “Luxury Auto” Owners a Break

Tue, 26 Apr 2011 00:00:00 GMT

Depreciation deductions for most new automobiles will be dramatically reduced unless a special election is made in the first tax year following the auto’s placed-in-service date.

Real property foreclosures require careful planning to avoid unexpected consequences

Tue, 15 Mar 2011 00:00:00 GMT

Real property foreclosures can produce dramatically different (and unexpected) tax consequences depending on the type of debt that is involved.

2010 Tax Relief Act Dramatically Reduces the Residential Energy Credit

Mon, 14 Feb 2011 00:00:00 GMT

The 2010 Tax Relief Act dramatically reduces the residential energy credit for individuals to 10% of qualified expenditures with a lifetime limit of $500. If you did not take advantage of the $1,500 limitation available in 2010, you may have lost the ability to claim an extra $1,000 credit forever.

Now May be the Time to Buy a New SUV for Business

Tue, 21 Dec 2010 00:00:00 GMT

New bonus depreciation and expensing rules can be used to deduct the entire cost of a new SUV placed in service during 2010 or 2011 provided certain requirements are met.

2010 Tax Relief Act – Finally some Holiday Cheer!

Mon, 13 Dec 2010 00:00:00 GMT

Despite all of the protests being expressed in the media by House Democrats, expect the 2010 Tax Relief Act to be sent to the President for his signature this week.

Increase the Benefits of Year End Planning for Your Business by Using the Tax Provision to Identify Tax Planning Opportunities

Wed, 01 Dec 2010 00:00:00 GMT

Regardless of your level of expertise, it seems that the best tax planning opportunities are often found as a result of pure serendipity.

2010 Federal Tax Update: Dancing with the IRS

Wed, 03 Nov 2010 00:00:00 GMT

2010 continues the annual tradition of piling tax change upon tax change and allowing important provisions to expire (only to re-enact them retroactively) making it next to impossible to understand, much less comply with our Federal income tax law.

Pass-Throughs with Research Credit Opportunities Reap Significant Benefit from Recent Tax Act

Tue, 28 Sep 2010 00:00:00 GMT

There are two provisions in the recently passed tax Act which can have a significant impact to shareholders of S corporations and partners of partnerships, including LLCs treated as partnerships, who are eligible to claim a tax credit for research and development activities but have been limited due to problems with the Alternative Minimum Tax (AMT).

Most Taxpayers Will Benefit from Accelerating Capital Gains to 2010

Thu, 09 Sep 2010 00:00:00 GMT

One of the most beneficial decision taxpayers can make this year is to accelerate capital gains.

2010 Year-end Tax Planning Requires New Strategies

Sun, 29 Aug 2010 00:00:00 GMT

Effective year-end tax planning for 2010 should focus on accelerating income and postponing deductions other than itemized deductions.

Getting Ready for Large Tax Increases – Taking Stock of what is in Store

Tue, 13 Jul 2010 00:00:00 GMT

It is time to review precisely where tax rates are going over the next few years as we are exactly six months away from the biggest tax increase in nearly 17 years.

House Passes Small-Business Tax Bill

Wed, 16 Jun 2010 00:00:00 GMT

The House on June 15 passed a small-business tax bill that essentially would eliminate the use of GRATs as an effective estate planning tool for most senior family members.

Business and Real Estate Owners May be Missing Valuable Opportunity

Wed, 26 May 2010 00:00:00 GMT

Certain taxpayers may be overpaying their current taxes because they misclassify deductible repairs and maintenance expense as capital improvements.

Passive Activity Loss Rules May Disallow Deduction of Current Losses Unless Taxpayer is a Qualifying Real Estate Professional

Tue, 27 Apr 2010 00:00:00 GMT

An individual's rental real estate activities, including those owned through pass-through entities, automatically fall under the passive activity loss (PAL) rules regardless of whether the taxpayer materially participates in the activity.

Employers Who Hire or Rehire Employees May Qualify for Important Tax Break

Fri, 02 Apr 2010 00:00:00 GMT

Employers who previously laid off employees as a result of a lack of work, or due to a change of season, may be able to take advantage of this new provision.

Don’t Jump from the Bridge… yet… President signs Patient Protection and Affordable Care Act

Wed, 24 Mar 2010 00:00:00 GMT

Tax increases resulting from health care legislation will not take effect until 2013.

What are your chances for being audited?

Mon, 15 Mar 2010 00:00:00 GMT

IRS data book provides valuable information about where the IRS is focusing its attention and how many tax returns the IRS audits.

If You Like Challenges – Choose a Career in Tax

Mon, 01 Mar 2010 00:00:00 GMT

A relative newcomer to the profession says it’s the thrills and spills that make this career choice worthwhile.

Second Shot at a “Once in a Lifetime” Benefit

Tue, 23 Feb 2010 00:00:00 GMT

Special tax benefit originally aimed at Chrysler could benefit your closely held C Corporation.

Beneficiary Designation Forms: The most important estate planning form that you don’t know about.

Sun, 07 Feb 2010 00:00:00 GMT

Proper planning requires the completion and continual review of a Beneficiary Designation Form (BDF).

President’s Budget for Fiscal 2011 Will Significantly Increase Your Taxes

Tue, 02 Feb 2010 00:00:00 GMT

On February 1, Treasury released the General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals indicating it’s time to get your wallet out.

IRS Proposed to Require Notification of FIN 48 Uncertain Positions

Tue, 26 Jan 2010 00:00:00 GMT

BREAKING NEWS! The IRS is now proposing that taxpayers provide them with a roadmap to potential audit adjustments and to provide them with worse case estimate.

Favorable IRS Interest Rates Create Estate Planning Opportunities

Wed, 06 Jan 2010 00:00:00 GMT

With IRS interest rates at historic lows and legislative changes in the air, now is the time to lock in significant tax savings by moving your estate planning forward by utilizing one of these techniques.

Tax Extenders Act of 2009 Extends a Variety of Pork Barrel Provisions

Mon, 14 Dec 2009 00:00:00 GMT

Every year Congress enacts a one-year extension for a variety of politically popular provisions for which it has to scramble to pay.

Energy Credits Saving More Valuable in 2009 than 2010

Thu, 03 Dec 2009 00:00:00 GMT

Nonbusiness energy credit can be used to offset alternative minimum tax in 2009, so you should not put off buying qualifying property until 2010.

Generous Education Tax Credits Available to Certain Taxpayers in 2009

Fri, 20 Nov 2009 00:00:00 GMT

An overlooked provision included in 2008 Stimulus legislation may generate significant benefits for certain individuals attending a higher education institution located in a Midwestern Disaster Area in 2008 and 2009.

Home Buyer’s Credit Provisions Vary Greatly

Fri, 13 Nov 2009 00:00:00 GMT

The popular first time home buyer’s credit has undergone significant changes since enactment.

Comparison of NOL Carryback Provisions Summary - Tax changes occur so frequently it's difficult to keep them straight.

Wed, 11 Nov 2009 00:00:00 GMT

Because there have been so many tax changes that revise recently enacted legislation with different effective dates, its difficult to keep the changes straight.

Congress passes Worker, Homeownership, and Business Assistance Act of 2009

Sat, 07 Nov 2009 00:00:00 GMT

On November 6, 2009, the President signed new legislation that gives businesses of all sizes an expanded net operating loss carryback and extends and liberalizes the home buyers tax credit.

2009 Federal Tax Update

Thu, 05 Nov 2009 00:00:00 GMT

2009 has turned out to be a fairly routine year as we’ve only had to deal with 300-400 tax law changes.

How IRS Interest Rates Affect Your Transfer Tax Planning

Wed, 21 Oct 2009 00:00:00 GMT

Special interest rates determined monthly by the IRS can dramatically affect your transfer tax planning.

Numerous Expiring Tax Provision May Significantly Increase Your Future Tax Bill

Mon, 12 Oct 2009 00:00:00 GMT

Expiring provisions give Congress and the President a way to raise taxes without debating the tax increases.

Does a Roth Conversion Make Sense Next Year?

Wed, 19 Aug 2009 00:00:00 GMT

High income taxpayers should consider converting their traditional IRA to a Roth IRA in 2010.

Courts Reject IRS Unreasonableness on Passive Losses

Tue, 28 Jul 2009 00:00:00 GMT

The Tax Court and the Court of Federal Claims in separate cases this month have held that LLC and LLP members are not automatically presumed to lack material participation.

IRS Changes Position on Reporting for Investments in Foreign Hedge Funds and Private Equity Funds

Mon, 06 Jul 2009 00:00:00 GMT

IRS “announces” major change in reporting rules on obscure conference call three weeks before filing deadline creating havoc and uncertainty for taxpayers.

Plan Now to Take Advantage of the One Person 401(k) - Part 1 - Overview of the Strategy

Tue, 16 Jun 2009 00:00:00 GMT

One person 401(k) plans can provide extraordinary benefits to individuals with full-time positions and unrelated self employment income.

Far Ranging Tax Proposals will Radically Alter Individual and Corporate Taxes

Wed, 20 May 2009 00:00:00 GMT

Proposed tax law changes will significantly increase taxes for individuals, families, and businesses beginning in 2011 and individuals dying on or after the date of enactment.

Get Your Tax Planning Started Now or Risk Significant Increases in Coming Years

Fri, 15 May 2009 00:00:00 GMT

Proposed tax law changes will significantly increase taxes for individuals, families, and businesses beginning in 2011 and individuals dying on or after the date of enactment.

Surviving an IRS Audit

Wed, 29 Apr 2009 00:00:00 GMT

If you are contacted for an IRS audit, you need to act immediately to resolve the matter. You should use a tax professional to level the playing field.

It's Not Too Late to Reduce Your 2008 Taxes: Establish a Simplified Employee Pension

Tue, 31 Mar 2009 00:00:00 GMT

Certain small business owners and self-employed individuals may reduce their 2008 taxes by establishing a SEP by the due date of their tax return, including extensions.

COBRA Provision Imposes New Burdens on Employers

Tue, 10 Mar 2009 00:00:00 GMT

COBRA provisions included in the 2009 Economic Stimulus Act will increase administrative burdens to the employer by requiring the employer recover the cost via a tax credit and requiring retroactive coverage.

Individual Provisions Included in the 2009 Economic Stimulus Act

Tue, 24 Feb 2009 21:00:00 GMT

The individual provisions of the 2009 Economic Stimulus Act are too narrow and targeted to provide any measurable tax relief to middle-class two-wage-earner families.

Business Provisions Included in 2009 Economic Stimulus Act

Wed, 18 Feb 2009 00:00:00 GMT

The 2009 Economic Stimulus Act primarily extends existing tax benefits and provides little or no stimulus for business.

Senate Holds the Upper Hand - Comparison of Provisions

Wed, 11 Feb 2009 12:50:00 GMT

Expect a stimulus bill sometime this week (before Monday).

Strategies for a Troubled Economy

Thu, 05 Feb 2009 10:15:00 GMT

You'll sleep better at night if you address the issues head on.

House and Senate Stimulus Provisions Have Important Differences

Thu, 29 Jan 2009 09:30:00 GMT

Important differences exist between the House passed Stimulus Bill and Senate provisions working their way to a vote.

Stimulus Bill Provides Few Business Incentives

Mon, 19 Jan 2009 13:30:00 GMT

Business tax provisions included in the new stimulus bill offer few incentives for business to expand.

Six More Planning Ideas for Reducing 2008 Taxes After Year End

Mon, 12 Jan 2009 07:00:00 GMT

Earlier this week, we focused on six planning ideas that can be implemented after year end. Here are six more strategies that can be used to reduce 2008 taxes even though we are well into 2009.

Tax Planning Moves Still Possible After Year End for Businesses

Mon, 05 Jan 2009 17:30:00 GMT

Although year-end has passed, there are still a number of tax-saving moves a company can make to reduce its tax burden for 2008.

Should I Accelerate My Capital Gains to 2008?

Sun, 21 Dec 2008 00:00:00 GMT

Will Obama and the Democratic Congress raise capital gains rates in 2009 thereby making it beneficial for me to accelerate capital gains to 2008?

Hello - Welcome to TaxThink-Dispatches from the front lines of our tax system

Fri, 19 Dec 2008 00:00:00 GMT

Welcome to TaxThink - Dispatches from the front lines of our tax system.