by apexcpas | Jul 4, 2018 | Tax Planning
It seems as if every neighborhood has a “cat lady.” And now the Tax Court has Jan Van Dusen. Van Dusen is an attorney who cares for cats in her private residence. She volunteers for a qualified charitable organization called Fix Our Ferals. Van Dusen traps...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has issued proposed regulations that should allow more investments in non-real estate businesses located in low-income communities to qualify for a new markets tax credit. Through 2009, the new markets tax credit (NMTC) has helped approximately 3,000...
by apexcpas | Jul 4, 2018 | Tax Planning
If your business claimed bonus depreciation on machinery or equipment in a previous year and then trades it in for an upgrade during 2011, you may qualify for bonus depreciation on the remaining depreciable basis in the old assets. The calculations can seem...
by apexcpas | Jul 4, 2018 | Tax Planning
Are you looking for a tax break for the busy summer? Many working parents must arrange for care of their children under 13 years of age during the school vacation period. A popular solution – with a tax benefit – is a day camp program. The cost of day camp can count...
by apexcpas | Jul 4, 2018 | Tax Planning
If you are a real estate professional who wants to treat all your real estate interests as one activity, you may now make a late election under new guidance. The passive activity loss disallowance rules apply to any trade or business in which you do not materially...