by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has provided the annual inflation-adjusted contribution, deductible and out-of-pocket expense limits that will apply to health savings accounts for 2013. Subject to statutory limits, eligible individuals may make tax-deductible contributions to health savings...
by apexcpas | Jul 4, 2018 | Tax Planning
With some parts of the economy starting to pick up, more people are in the market for a new job. Here are eight tax tips about the costs you might incur while job hunting – and the ins and outs of related tax deductions: To qualify for a deduction, the expenses...
by apexcpas | Jul 4, 2018 | Tax Planning
The Atlantic Monthly recently took note of a Florida law designed to preserve farmland by offering lower property taxes to farmers. According to the investigative report, enterprising developers and other landowners allow cattle to graze on their properties...
by apexcpas | Jul 4, 2018 | Tax Planning
A recent Tax Court decision serves as a reminder that couples should carefully scrutinize tax considerations in connection with a divorce. In this case, David LaPoint, a professional baseball player, entered into a postnuptial agreement (David LaPoint v. Commissioner,...
by apexcpas | Jul 4, 2018 | Tax Planning
The U.S. Supreme Court has handed down its final verdict on whether the IRS will have six years to consider assessing additional taxes on the gain from a sale. And the taxpayer won. Normally, the IRS has three years after a taxpayer files a tax return to assess any...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has concluded that a manufacturer was able to deduct chargeback reimbursements it made to its wholesalers and distributors. The IRS said the manufacturer met the “all events test” and further concluded that the recurring-item exception to the...