by apexcpas | Jul 4, 2018 | Tax Planning
Unless Congress acts to again extend the expiration date, 2011 may be the last year those age 70½ and older will benefit by making contributions of up to $100,000 directly from their IRA to a qualified charity. This type of direct IRA-to-charity...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has provided a new accounting method for computing bad debts. A new revenue procedure provides a safe-harbor method of accounting for taxpayers using the nonaccrual-experience (NAE) method of accounting for uncollectible receivables. Eligible businesses must...
by apexcpas | Jul 4, 2018 | Tax Planning
Tax-exempt organizations that distribute publications to their members should be aware of a recent Tax Court decision. In this case, the tax-exempt organization published two magazines that were distributed to dues-paying members and a small number of nonmember...
by apexcpas | Jul 4, 2018 | Tax Planning
The issue of who is an employee and who is an independent contractor continues to challenge businesses, the IRS and the courts. Now the IRS has launched a new program that will enable many employers to resolve past worker classification issues and achieve certainty...
by apexcpas | Jul 4, 2018 | Tax Planning
A court of appeals has upheld a Tax Court decision that a sausage manufacturer received ordinary income, rather than capital gain, when it settled a lawsuit involving trade secrets. In the early 1980s, C&F Packing Co., Inc. (C&F), developed a process for...