August 2013 - The Tax Adviser

The IRS will now allow taxpayers who otherwise qualify for the home office deduction to use a simplified safe-harbor method that reduces the recordkeeping generally involved under the actual-expense method.

The Tax Court held that shareholders of an S corporation improperly increased the adjusted basis of their S corporation stock when the S corporation made a QSub election for its wholly owned C corporation subsidiary.

This article examines how to determine the new surtax on net investment income that, like alternative minimum taxable income, effectively creates another tax base in addition to taxable income.

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