Guide to expensing HVAC costs
This guide provides tax preparers an outline of questions to ask clients when evaluating HVAC repair costs.
Tax Insider Articles
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Sec. 1446(f) regulations: The rules and unanswered questions
This article addresses certain aspects of the withholding rules of the final Sec. 1446(f) regulations, options to eliminate or reduce Sec. 1446(f) withholding, and some outstanding issues.
How to preserve retirement plan company matches
CPAs can play a vital role in helping plan sponsors cut costs and make the best of a challenging situation so the business can keep its company retirement plans intact.
Revocable trusts and the grantor’s death: Planning and pitfalls
This article focuses on the key tax and reporting areas applicable to revocable trusts and the associated planning and pitfalls that arise at the grantor’s death.
The rules on interest for loans between related parties
This article discusses self-charged interest requirements.
As tax season launches, AICPA checks in on the tax community
After a year of many changes, this tax season looks very different. The AICPA wants to hear your feedback about this tax season so it can better support the profession.
It is not too late for 2020 QOF tax deferral opportunities
This article discusses the applicable deadlines for individuals for investing in a QOF and obtaining tax deferral.
Final Sec. 1031 regulations do not materially affect cost segregation studies
Compared to pre-TCJA rules, there is no material change in the tax treatment of a building involved in a like-kind exchange, where a cost segregation study has been performed.
The role of family CPAs in IRS tax controversies
This article focuses on the role of family CPAs in IRS collection matters.
Final regulations on the meals and entertainment deduction
The IRS issued regulations to address the changes made to the meals and entertainment deduction under the TCJA.
Offer-in-compromise scams expected to increase
The COVID-19 recession is the reason why the IRS added “offer-in-compromise mills” to its annual Dirty Dozen scams list.
Common sense and reasonable cause for IRS penalties
One of the biggest, yet most misunderstood, penalty defenses is that a tax position was based on reasonable cause and the taxpayer acted in good faith.
2020 employer opportunities: Give more while spending less
This article focuses on two opportunities beneficial to both employers and employees: (1) Sec. 139 disaster relief payments and (2) Sec. 127 educational assistance payments.
Another alert for IRAs investing in master limited partnerships
This article discusses what is needed to help clients who have an IRA invested in PTPs pay the correct amount of tax.
Tax incentives for college students: Part 2
This second of a two-part article discusses the taxability of scholarships and who gets the deduction for repaying the student loans.
Tax incentives for college students: Part 1
This article examines planning issues when a student is a young child whose parents are saving for college and when the student is a young adult paying for college.
R&D tax credits: A valuable cash infusion for businesses
R&D tax credits can be a very effective and controllable way for businesses to replenish valuable dollars spent on new and innovative products or processes.
An update on like-kind exchanges
Recently issued proposed regs. are generally good news for property owners with plans to make Sec. 1031 exchanges.
Quiz: Like-kind exchanges
This quiz tests your knowledge of the like-kind exchange rules.
Top 10 business income tax planning ideas for the pandemic
Right now, some basic tax planning ideas can make a significant difference in reducing income tax, thereby increasing cash flow and even creating tax refund opportunities.
