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Subchapter J Federal Income Taxation of Estates and Trusts

Federal taxation of estates, trusts and the beneficiaries thereof present unique and complex circumstances which are not addressed by the three...

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Tax Planning Under the New Law

Tax planning keeps twisting and turning in the wind. This is due to the our government blowing in the winds of change and trying to regulate how you...

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Tax Tips-Highlights of New Tax Act

On August 5th, 1997, President Clinton signed the Tax Relief Act of 1997. The majority of the changes apply for years beginning after December 31st,...

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Tax Tips-TCMP II The Fair Taxpayer Compliance Manual Project


The Taxpayer Compliance Monitoring Program (TCMP) was terminated but has recently been replaced...

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Tax Tips 8-29-02-Who Gets the Deduction

Many closely held business owners, particularly of S corporation, sometimes forget that their S corporation is a separate tax paying entity. This can...

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What the IRS giveth the IRS taketh Away 107

In a prior column I wrote extensively on the usage of private annuities to sell one’s business, real estate or any large assets with the current...

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When Is Compensation Reasonable

A taxpayer is allowed a deduction for “a reasonable allowance for salaries or other compensation for services actually rendered.” IRC §162(A)(1). The...

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A Few Changes in Tax for Your Investments

Have your filed your income tax return on time or did you extend it? In any event, you may have had an issue, with how to report your dividends as...

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Are You Leaving Money on the Table?

Most small businesses, 500 employees or less are familiar with the Coronavirus Aid, Relief, and Economic Security, “CARES” Act, P.L. 116-136, which...

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Substance- Over-Form or Just Good Tax Planning?

In Summa Holdings, Inc. v. Comm'r, T.C. Memo 2015-119, the 6th Circuit Appellate court has partially put a leash on the IRS Commissioner to argue...

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