by apexcpas | Jul 4, 2018 | Tax Planning
Last minute filers are rightly concerned that the IRS may not receive their documents by the due date. And in most cases, there is no way to prove when the IRS actually receives your documents. Penalties can result or elections may be invalid, if you do not file on...
by apexcpas | Jul 4, 2018 | Tax Planning
Many people plan a yard or garage sale while the weather is nice. Have you ever wondered how taxes affect these events? In most cases, these types of sales involve personal items that you’ve owned and used for a number of years. Since the selling price is...
by apexcpas | Jul 4, 2018 | Tax Planning
Businesses that reimburse employees for away-from-home travel costs using a per-diem amount, rather than the actual costs, should take heed of a new announcement from the IRS. The IRS has announced that it plans to discontinue one of the permissible per-diem methods....
by apexcpas | Jul 4, 2018 | Tax Planning
The Department of the Treasury announced that 17 community banks across the country received a total of $214 million as part of the next wave of funding provided through the Small Business Lending Fund (SBLF). The SBLF, which was established as part of the Small...
by apexcpas | Jul 4, 2018 | Tax Planning
A recent Tax Court case serves as a reminder of the importance of contemporaneous documentation. Over a period of years, Thomas Kaider provided a number of services to his uncle, Edward Quinn. Some of these services related to Quinn’s businesses, and some were...
by apexcpas | Jul 4, 2018 | Tax Planning
If you own stock in a small business corporation, check to see whether you qualify for an important tax break. Since 1993, the tax law has contained a tax exemption for part or all of the gain that individuals realize on the sale of qualified small business stock that...