by apexcpas | Jul 4, 2018 | Tax Planning
You have seen the ads on television from tax services that claim they can settle your tax debts for pennies on the dollar. Sometimes you wonder whether these claims are too good to be true. A recent court case demonstrates the difficulties involved in settling tax...
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...