by apexcpas | Jul 4, 2018 | Tax Planning
A recent Tax Court case confirms that dividends receive different treatment from interest. Investors who purchase bonds are generally aware of the accrued interest rule: When you purchase a bond between coupon dates, or the dates on which the bond issuer pays...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has issued new temporary regulations that will affect virtually all taxpayers that acquire, produce or improve tangible property. Businesses can currently deduct a repair expense if the cost is incidental in nature and the repair neither materially adds to the...
by apexcpas | Jul 4, 2018 | Tax Planning
It’s that time of the year when your income tax documents start arriving in the mail. Some will document income earned that you need to report on your income tax return. Others will document deductions you can claim on your income tax return. You should expect...
by apexcpas | Jul 4, 2018 | Tax Planning
On Dec. 23, 2011, Congress and President Obama delivered a last-minute holiday gift to working taxpayers. Both parties agreed to temporarily extend the payroll tax cut that has been in place for 2011. The employees’ share of the Social Security tax...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has clarified the treatment of certain liabilities under the Internal Revenue Code’s recurring-item exception to the economic performance requirement of the all-events test. Under the all-events test, an accrual method business can accrue a liability in...