Tax Tips-TCMP II The Fair Taxpayer Compliance Manual Project
TCMP II – THE FAIR TAXPAYER COMPLIANCE MANUAL PROJECT
The Taxpayer Compliance Monitoring Program (TCMP) was terminated but has recently been replaced...
Tax Planning (3)
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...
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...
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...
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...
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...
Tax Planning Under the New Law
Tax planning keeps twisting and turning in the wind. This is due to our government blowing in the winds of change and trying to regulate how you...
Talking to the Boss
Year End Tax Planning: The year is almost over, therefore, you must act before yearend to address your tax issues. What can you do? Take a look at...
You Figure It Out!
As I write this version of an investment report, I have just finished reviewing four economists viewpoints and, just like four experienced attorneys...