Category Archives: Uncategorized

Tax-exempt-status Scandal, The IRS Fix

We are all aware of the IRS scandal and how they categorically scrutinized Code Sec. 501(c)(4) applications for Tea Party and other conservative groups.  After IRS Commissioner Steven Miller resigned, President Obama appointed Daniel Werfel.  The new commissioner’s first priority … Continue reading

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Parts of DOMA Struck Down

The Supreme Court struck down the section of DOMA (Defense of Marriage Act) that required same-sex spouses to be treated as unmarried for purposes of filing their Federal Income Tax Return. What does this mean for tax professionals?  For one, … Continue reading

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Are Cost Segregation Studies Dead?

Just for a quick review, cost segregation studies are reports put together by structural engineers and tax accounts to reclassify components of section 1250 real property into personal property. In doing so, owners in real estate can depreciate the segregated … Continue reading

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IRS, “Fresh Start”, Oxymoron?

The IRS just announced it’s “Fresh Start” program. I know what you are thinking, because I thought the same thing.  IRS and “Fresh Start” are two phrases that don’t exactly go together.  But in a continued effort to seem friendlier, they have … Continue reading

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Supreme Court Considers Patient Protection and Affordable Care Act.

However you feel about the Patient Protection and Affordable Care Act (PPACA), you can’t help but be fascinated by seeing the checks and balances of the U.S. government at work. Or maybe that’s just me. For those of you who have … Continue reading

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S-Corporations and “Reasonable Compensation”

“What is reasonable compensation?” It’s a question that gives even the most seasoned tax preparer heart burn.   The goal has typically been to minimize the taxpayer’s employment taxes by keeping the sharehold’s wages as low as possible.  It would be nice if all … Continue reading

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28% Corporate Tax Rate.

“The President’s Framework for Business Tax Reform” is a document recently released by the Treasury Department.  It outlines the President’s plan for a 28% corporate tax rate, for simplify corporate tax rules and to reduce the tax burden for small business. The … Continue reading

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Don’t Always Trust What You Read on the Internet!

I know what you’re going to say, “If I can’t trust what I read on the Internet, why should I continue reading this blog”? The answer is simple.  You should continue reading because you will find a lot of helpful information. The … Continue reading

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