The Sec. 645 election to treat a trust as part of the estate
2024年5月1日 · A Sec. 645 election can streamline tax reporting and offer other tax advantages when a client with a living revocable trust dies. Read about the requirements for making a Sec. 645 election, the tax benefits of making the election, and how and when to make the election.
The Tax Adviser
Changing domicile from a high-tax state to a low-tax state. To reap the benefits of a move from a hightax state to a low-tax state, taxpayers must be able to prove that they have established domicile in the low-tax state.
Tax consequences of employer gifts to employees - The Tax Adviser
2024年4月1日 · Tax consequences of employer gifts to employees By Karen Field, J.D., Washington D.C., and Nicole Kelley, CPA, MST, McLean, Va.
Partnership distributions: Rules and exceptions - The Tax Adviser
2024年8月1日 · Entities classified as partnerships for federal tax purposes often provide the preferred tax structure for a business owner because of their flowthrough nature and the flexibility they offer regarding their formation, allocations of profits and losses, and distributions.
Bonus depreciation phaseout planning - The Tax Adviser
2024年10月1日 · Bonus depreciation phaseout planning By Caitlin Slezak, CPA, MST, Chicago; Michelle Abel, J.D., Boston; and Kyle Herndon, CPA, Atlanta
November 2024 - The Tax Adviser
Read past issues of The Tax Adviser, the AICPA's monthly journal of tax planning, trends, and techniques.
Summary of tax rules for liquidating corporations - The Tax Adviser
2020年10月1日 · Editor: Mark Heroux, J.D. Domestic corporations, either S corporations or C corporations, are liquidated by applying Secs. 331-346. This discussion provides a review of the rules that apply to liquidating corporations, but it does not address the exceptions set forth in Sec. 361 via a reorganization plan or the exceptions arising from having foreign liquidating …
Tax strategies for cash and cash equivalents - The Tax Adviser
2024年11月1日 · Editor: Patrick L. Young, CPA. An investor’s cash reserves are typically invested in short-term, highly liquid investments. These investments are often referred to as cash and cash equivalents and may take the form of money market accounts, certificates of deposit (CDs), or …
Advising S corporation clients on reasonable compensation - The …
2024年10月1日 · Contributors. Niyati Hemani, CPA, is founder of Hemani Financial Solutions LLC in Spokane, Wash., and a Chartered Accountant (India).Arthur Auerbach, CPA, CGMA, is an independent tax consultant in Atlanta.Hemani is a member, and Auerbach is vice chair, of the AICPA Tax Practice and Procedures Committee.
Employer-provided and company-owned vehicles - The Tax Adviser
2022年11月1日 · Employees generally must include in income the fair market value (FMV) of their personal use (including commuting) of an employer-provided auto (Regs. Sec. 1.61-21(a)(1)).