by apexcpas | Jul 4, 2018 | Tax Planning
If you operate a business and you paid any service provider at least $600 for services during 2011, you must provide Form 1099-MISC, Miscellaneous Income, to the provider no later than Jan. 31, 2012. However, if the provider is a corporation, you generally do not...
by apexcpas | Jul 4, 2018 | Tax Planning
Many young girls play with dolls. Many young boys play with action figures. Is there a gender bias in the tax law? Most toys – dolls and action figures included – are manufactured overseas and imported into the United States. The Harmonized Tariff Schedule...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has issued a notice providing interim guidance on reporting information to employees about the cost of their group health insurance coverage. This guidance restates and updates earlier guidance issued late in 2010. Beginning in tax year 2011, the Affordable...
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...