by apexcpas | Jul 4, 2018 | Tax Planning
As the end of 2011 approaches, now is a good time to start year-end tax planning to minimize your individual and business tax burden. Generally, year-end tax planning involves considering at least two years – in this instance, 2011 and 2012. With tax changes on the...
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...