Speeding Through 2020 Auto Webinar Series - Year-End ReviewCitrin Cooperman
As 2020 nears completion, we discuss what automotive dealerships need to record and what files need to be kept in order to ensure that 2020 is closed properly and that the new year starts off right.
The document provides an update on S corporation issues and common problems. It discusses changes to built-in gains tax holding periods under the Small Business Jobs Act and user fees for requesting an S election waiver. It also summarizes common S corporation issues like reasonable compensation, loans from shareholders, health insurance deductions for 2% shareholders, and basis calculations.
The Tax Cuts and Jobs Act has now passed, which enacts the biggest tax reform law in thirty years. Citrin Cooperman's Federal Tax Policy Team recently hosted a webinar discussing what you need to know to begin planning and steps you can be taking to be prepared. The conversation focused on the following key areas:
Business
Corporate
Pass-Through Entities
International
Individuals
State and Local Implications
A Highlighted Analysis of Proposed Section 965 RegulationsCitrin Cooperman
This document summarizes key aspects of proposed regulations related to Section 965 of the tax code. Some highlights include:
- The definition of a specified foreign corporation and how ownership is determined.
- How accumulated post-1986 deferred foreign income is calculated, including reductions for distributions, foreign taxes, and deficits.
- Rules for determining a deferred foreign income corporation and earnings and profits deficit foreign corporation.
- How the aggregate foreign cash position is measured across multiple cash measurement dates.
- Rules around foreign tax credits, installment payments, acceleration events, and S corporation shareholder deferral elections.
This document summarizes a presentation on tax issues and planning for 2011. The agenda covers business and individual tax topics, including S corporation trends, current business tax incentives, IRS initiatives, Alabama tax law updates, ROTH IRAs, capital gains exclusions, and foreign financial asset reporting requirements. It also outlines known federal tax law changes scheduled for 2013 and proposals currently being discussed, such as parts of the American Jobs Act.
Speeding Through 2020 Auto Webinar Series - What's Next for PPP?Citrin Cooperman
This document summarizes key information about the Paycheck Protection Program (PPP) loan forgiveness process.
It outlines the different forgiveness applications (3508S, 3508EZ, 3508), what they are used for, and the timeline for applying for forgiveness. It walks through the components of the 3508 application including documenting payroll costs, reductions to loan forgiveness amounts, and eligible non-payroll expenses. It also discusses recent developments like additional disclosure requirements and safe harbors that exempt borrowers from reductions.
The passage of the Tax Cuts and Jobs Act will have widespread and long lasting implications throughout the country and will change how most taxpayers will prepare their tax returns. Citrin Cooperman recently hosted a seminar in Philadelphia to provide insight on where we are now, how we plan to move forward, and how the new law will impact your overall business and tax strategies. Join us to get answers to questions in the following areas:
Corporate and Businesses
Pass-Through Entities
International Issues
Individuals
Speeding Through 2020 Auto Webinar Series - Year-End ReviewCitrin Cooperman
As 2020 nears completion, we discuss what automotive dealerships need to record and what files need to be kept in order to ensure that 2020 is closed properly and that the new year starts off right.
The document provides an update on S corporation issues and common problems. It discusses changes to built-in gains tax holding periods under the Small Business Jobs Act and user fees for requesting an S election waiver. It also summarizes common S corporation issues like reasonable compensation, loans from shareholders, health insurance deductions for 2% shareholders, and basis calculations.
The Tax Cuts and Jobs Act has now passed, which enacts the biggest tax reform law in thirty years. Citrin Cooperman's Federal Tax Policy Team recently hosted a webinar discussing what you need to know to begin planning and steps you can be taking to be prepared. The conversation focused on the following key areas:
Business
Corporate
Pass-Through Entities
International
Individuals
State and Local Implications
A Highlighted Analysis of Proposed Section 965 RegulationsCitrin Cooperman
This document summarizes key aspects of proposed regulations related to Section 965 of the tax code. Some highlights include:
- The definition of a specified foreign corporation and how ownership is determined.
- How accumulated post-1986 deferred foreign income is calculated, including reductions for distributions, foreign taxes, and deficits.
- Rules for determining a deferred foreign income corporation and earnings and profits deficit foreign corporation.
- How the aggregate foreign cash position is measured across multiple cash measurement dates.
- Rules around foreign tax credits, installment payments, acceleration events, and S corporation shareholder deferral elections.
This document summarizes a presentation on tax issues and planning for 2011. The agenda covers business and individual tax topics, including S corporation trends, current business tax incentives, IRS initiatives, Alabama tax law updates, ROTH IRAs, capital gains exclusions, and foreign financial asset reporting requirements. It also outlines known federal tax law changes scheduled for 2013 and proposals currently being discussed, such as parts of the American Jobs Act.
Speeding Through 2020 Auto Webinar Series - What's Next for PPP?Citrin Cooperman
This document summarizes key information about the Paycheck Protection Program (PPP) loan forgiveness process.
It outlines the different forgiveness applications (3508S, 3508EZ, 3508), what they are used for, and the timeline for applying for forgiveness. It walks through the components of the 3508 application including documenting payroll costs, reductions to loan forgiveness amounts, and eligible non-payroll expenses. It also discusses recent developments like additional disclosure requirements and safe harbors that exempt borrowers from reductions.
The passage of the Tax Cuts and Jobs Act will have widespread and long lasting implications throughout the country and will change how most taxpayers will prepare their tax returns. Citrin Cooperman recently hosted a seminar in Philadelphia to provide insight on where we are now, how we plan to move forward, and how the new law will impact your overall business and tax strategies. Join us to get answers to questions in the following areas:
Corporate and Businesses
Pass-Through Entities
International Issues
Individuals
The New Rage in SALT: State Pass-Through Entity TaxCitrin Cooperman
Several states have enacted pass-through entity taxes in response to the $10,000 SALT deduction cap under the Tax Cuts and Jobs Act. New York, New Jersey, Maryland, Rhode Island, Connecticut, and California allow pass-through entities like partnerships and S corporations to elect to pay a tax on state-source income, with owners then receiving a credit. Key considerations for these taxes include tax rates, estimated payment requirements, utilization of credits, and impacts on tiered structures.
The document provides an overview of the changes to individual and business taxation resulting from the 2017 tax reform law. For individuals, it summarizes changes such as lower tax rates, increased standard deduction, changes to certain deductions. For businesses, it discusses expanded expensing allowances, limitations on interest expense deductions, changes to meals and entertainment deductions. It also provides details on the new 20% pass-through deduction and its limitations.
High Net Worth Webinar Series - Estate Planning Strategies and UpdatesCitrin Cooperman
There’s much uncertainty in the world of estate planning for high net worth individuals and their families. With numerous legislative proposals that would drastically alter the current estate planning landscape, listen in as our Trust and Estate Services Practice team discusses: various proposals, including those in Congress and the Biden Administration’s Green Book, estate and gift planning strategies for the remainder of tax year 2021, and more.
The Long Lasting Impact of Tax Reform- NYC- Event- 1/24/18Citrin Cooperman
The document summarizes key provisions of the new tax law relating to international taxation, including the adoption of a modified territorial system with a 100% dividends received deduction for US corporations on dividends from specified foreign corporations in which they have at least a 10% interest. It also discusses the one-time mandatory toll tax imposed on accumulated post-1986 deferred foreign earnings and profits of US shareholders of deferred foreign income corporations. Details are provided on how the toll tax is calculated and applies to individuals and pass-through entities in addition to corporations.
International tax reporting requirements relevant to U.S. persons engaged in cross-border transactions. Foreign information returns discussed include Forms 926, 5471, 5472, 8858, and 8865. The discussion focuses upon proper execution of the Forms and potential penalties for noncompliance.
View the video recording here: https://youtu.be/UyNXjUoFxYA
Learn more about Citrin Cooperman's International Tax Services here: http://bit.ly/2veYkrO
Fiduciary Protection: Is Your Retirement Plan Ready for a DOL or IRS Audit?Citrin Cooperman
The document discusses retirement planning challenges presented by the COVID-19 pandemic. It notes that the pandemic severely impacted many businesses, leading to high unemployment. While testing and cases have improved, there is still uncertainty around reopening plans and potential summer spikes. The stock market rebounded from initial declines but volatility remains. The document provides tips for retirement plan participants and sponsors, such as maintaining a diversified portfolio and long-term focus during volatile times. It emphasizes continuing retirement contributions where possible.
This document provides a summary of the 2019 tax plan and updates from a presentation given by BJ Hoffman and Michael Kline. It discusses changes to individual and business taxes from the Tax Cuts and Jobs Act. For individuals, key changes include increased standard deductions, limits on certain deductions, and changes to tax brackets. For businesses, changes include lower corporate tax rates, bonus depreciation, Section 199A deductions, and interest expense limitations. The document concludes with a question and answer section.
Self-Employed Borrower: Case Study Part II: Completing the Form 91 with Busin...NAFCU Services Corporation
Session 2 continues to take the participant through a review of Freddie Mac's Form 91. The participant will calculate the qualifying income for a fictitious couple by entering their tax return data on the Form 91. For more info: www.nafcu.org/genworth
This document summarizes key 2011 individual income tax changes and tips. It discusses expanded IRS Form 1099 reporting requirements, the loss of some tax credits, a 2% payroll tax cut, and Illinois increasing its income tax rate from 3% to 5%. It provides details on new Forms 1099-K and 8949 for reporting stock basis and sales. The document also outlines various tax credits, deductions, and rates that were extended through 2012, including the alternative minimum tax exemption amounts.
The IRS defines a home as any house, condominium, cooperative,
mobile home, boat, or similar property that
has sleeping space, toilet facilities, and cooking facilities.
Homeowners may qualify for the following deductions.
- This document provides instructions for Illinois Form IL-2210, which is used to calculate penalties for failing to make timely estimated tax payments, failing to pay taxes owed by the due date, or failing to file a processable tax return by the extended due date.
- The instructions explain how to complete the six steps of Form IL-2210, including calculating required estimated tax installments, unpaid tax amounts, late payment penalties, and penalties for underpayment of estimated tax or late filing.
- Key details include penalty rates, rules for applying payments and credits, and options for using an annualized income method to potentially reduce penalty amounts for taxpayers with fluctuating incomes throughout the year.
COVID-19 - How Staffing Companies Can Navigate the CrisisCitrin Cooperman
The document summarizes information from two webinars on how staffing companies can navigate the COVID-19 crisis. It discusses cash management strategies, borrowing options, staffing level considerations, and provisions from the Families First Act and CARES Act. Key points include cash forecasting, accessing lines of credit and government funding, determining optimal staffing levels, paid sick leave and family leave requirements, employer payroll tax deferrals and refundable employee retention credits.
Deferred Income Taxes for South Carolinataxman taxman
The document is a South Carolina tax form for deferring income taxes on increases in foreign trading receipts. Taxpayers can defer taxes on the portion of income attributable to increases in foreign sales over a three year average. To defer taxes, taxpayers must pay annual interest on the deferred tax amount. The deferred tax is due no later than the fifth year after it was first deferred.
740-ES Instructions for Filing Estimated Tax Vouchers - Form 42A740-S4taxman taxman
1) This document provides instructions for filing estimated tax vouchers in Kentucky for 2009. It notes that the standard deduction has increased to $2,190 and who must make estimated tax payments. 2) Estimated tax payments are due April 15, June 15, September 15, 2009 and January 15, 2010. Failure to pay at least 70% of the tax liability may result in penalties. 3) It provides details on calculating estimated taxes, including the family size tax credit and tax rates. Farmers have different filing requirements.
High Net Worth Webinar Series: SALT Thoughts - Pass-Through Entity Taxes & Re...Citrin Cooperman
During this webinar, we discussed how to potentially mitigate the impact of the state and local tax (SALT) cap at the federal level. New York State has joined the list of states that have enacted an elective pass-through entity tax in an effort to do just that. We also dove into the possibility of changing residency to a low-tax or no-tax state. With state tax rates on the rise in some places and the realization that remote work is doable, many individuals are contemplating making a move. To succeed in making a change like this, one must be aware of the technical rules and be willing to significantly adjust one’s life. We talked through all these considerations.
The document provides information about common life events that can affect tax situations and advises contacting a tax professional for advice on tax implications. It lists several major life changes like job changes, marriages, retirements, home purchases or sales, and distributions from retirement accounts that could impact taxes. Taxpayers are encouraged to consult a tax professional in advance of any transactions to understand potential tax effects and avoid negative consequences with proper planning.
Intuit Presents Tax Law Changes for Tax Year 2012intuitaccts
Get the very latest on important tax law changes that will impact returns for Tax Year 2012 from Intuit's Mike D'Avolio. These changes seem to come later and later each year. Let’s us do the legwork and keep you up to speed on current status of tax law changes and extensions.
IT 505 Final Submission Operating System Upgrade Implementation BriefEmmaDrinmk
The document outlines the requirements for a final project involving an operating system upgrade implementation brief. It includes three deliverables: a written report, an information assurance presentation, and web technology tutorials. The written report involves modifying code to display an upgrade message, describing a network configuration, and creating a database report. The presentation covers information assurance needs, risks, and countermeasures. The tutorials provide instructions for setting the company website as the homepage and enabling/disabling cookies. The project aims to illustrate implementing an operating system upgrade plan through these deliverables.
El relieve colombiano presenta variada geografía que incluye tres cordilleras andinas, llanuras interiores y costeras, y valles interandinos. El documento describe los diferentes sistemas de relieve en Colombia como las montañas de los Andes, otras montañas independientes de los Andes, y llanuras.
The New Rage in SALT: State Pass-Through Entity TaxCitrin Cooperman
Several states have enacted pass-through entity taxes in response to the $10,000 SALT deduction cap under the Tax Cuts and Jobs Act. New York, New Jersey, Maryland, Rhode Island, Connecticut, and California allow pass-through entities like partnerships and S corporations to elect to pay a tax on state-source income, with owners then receiving a credit. Key considerations for these taxes include tax rates, estimated payment requirements, utilization of credits, and impacts on tiered structures.
The document provides an overview of the changes to individual and business taxation resulting from the 2017 tax reform law. For individuals, it summarizes changes such as lower tax rates, increased standard deduction, changes to certain deductions. For businesses, it discusses expanded expensing allowances, limitations on interest expense deductions, changes to meals and entertainment deductions. It also provides details on the new 20% pass-through deduction and its limitations.
High Net Worth Webinar Series - Estate Planning Strategies and UpdatesCitrin Cooperman
There’s much uncertainty in the world of estate planning for high net worth individuals and their families. With numerous legislative proposals that would drastically alter the current estate planning landscape, listen in as our Trust and Estate Services Practice team discusses: various proposals, including those in Congress and the Biden Administration’s Green Book, estate and gift planning strategies for the remainder of tax year 2021, and more.
The Long Lasting Impact of Tax Reform- NYC- Event- 1/24/18Citrin Cooperman
The document summarizes key provisions of the new tax law relating to international taxation, including the adoption of a modified territorial system with a 100% dividends received deduction for US corporations on dividends from specified foreign corporations in which they have at least a 10% interest. It also discusses the one-time mandatory toll tax imposed on accumulated post-1986 deferred foreign earnings and profits of US shareholders of deferred foreign income corporations. Details are provided on how the toll tax is calculated and applies to individuals and pass-through entities in addition to corporations.
International tax reporting requirements relevant to U.S. persons engaged in cross-border transactions. Foreign information returns discussed include Forms 926, 5471, 5472, 8858, and 8865. The discussion focuses upon proper execution of the Forms and potential penalties for noncompliance.
View the video recording here: https://youtu.be/UyNXjUoFxYA
Learn more about Citrin Cooperman's International Tax Services here: http://bit.ly/2veYkrO
Fiduciary Protection: Is Your Retirement Plan Ready for a DOL or IRS Audit?Citrin Cooperman
The document discusses retirement planning challenges presented by the COVID-19 pandemic. It notes that the pandemic severely impacted many businesses, leading to high unemployment. While testing and cases have improved, there is still uncertainty around reopening plans and potential summer spikes. The stock market rebounded from initial declines but volatility remains. The document provides tips for retirement plan participants and sponsors, such as maintaining a diversified portfolio and long-term focus during volatile times. It emphasizes continuing retirement contributions where possible.
This document provides a summary of the 2019 tax plan and updates from a presentation given by BJ Hoffman and Michael Kline. It discusses changes to individual and business taxes from the Tax Cuts and Jobs Act. For individuals, key changes include increased standard deductions, limits on certain deductions, and changes to tax brackets. For businesses, changes include lower corporate tax rates, bonus depreciation, Section 199A deductions, and interest expense limitations. The document concludes with a question and answer section.
Self-Employed Borrower: Case Study Part II: Completing the Form 91 with Busin...NAFCU Services Corporation
Session 2 continues to take the participant through a review of Freddie Mac's Form 91. The participant will calculate the qualifying income for a fictitious couple by entering their tax return data on the Form 91. For more info: www.nafcu.org/genworth
This document summarizes key 2011 individual income tax changes and tips. It discusses expanded IRS Form 1099 reporting requirements, the loss of some tax credits, a 2% payroll tax cut, and Illinois increasing its income tax rate from 3% to 5%. It provides details on new Forms 1099-K and 8949 for reporting stock basis and sales. The document also outlines various tax credits, deductions, and rates that were extended through 2012, including the alternative minimum tax exemption amounts.
The IRS defines a home as any house, condominium, cooperative,
mobile home, boat, or similar property that
has sleeping space, toilet facilities, and cooking facilities.
Homeowners may qualify for the following deductions.
- This document provides instructions for Illinois Form IL-2210, which is used to calculate penalties for failing to make timely estimated tax payments, failing to pay taxes owed by the due date, or failing to file a processable tax return by the extended due date.
- The instructions explain how to complete the six steps of Form IL-2210, including calculating required estimated tax installments, unpaid tax amounts, late payment penalties, and penalties for underpayment of estimated tax or late filing.
- Key details include penalty rates, rules for applying payments and credits, and options for using an annualized income method to potentially reduce penalty amounts for taxpayers with fluctuating incomes throughout the year.
COVID-19 - How Staffing Companies Can Navigate the CrisisCitrin Cooperman
The document summarizes information from two webinars on how staffing companies can navigate the COVID-19 crisis. It discusses cash management strategies, borrowing options, staffing level considerations, and provisions from the Families First Act and CARES Act. Key points include cash forecasting, accessing lines of credit and government funding, determining optimal staffing levels, paid sick leave and family leave requirements, employer payroll tax deferrals and refundable employee retention credits.
Deferred Income Taxes for South Carolinataxman taxman
The document is a South Carolina tax form for deferring income taxes on increases in foreign trading receipts. Taxpayers can defer taxes on the portion of income attributable to increases in foreign sales over a three year average. To defer taxes, taxpayers must pay annual interest on the deferred tax amount. The deferred tax is due no later than the fifth year after it was first deferred.
740-ES Instructions for Filing Estimated Tax Vouchers - Form 42A740-S4taxman taxman
1) This document provides instructions for filing estimated tax vouchers in Kentucky for 2009. It notes that the standard deduction has increased to $2,190 and who must make estimated tax payments. 2) Estimated tax payments are due April 15, June 15, September 15, 2009 and January 15, 2010. Failure to pay at least 70% of the tax liability may result in penalties. 3) It provides details on calculating estimated taxes, including the family size tax credit and tax rates. Farmers have different filing requirements.
High Net Worth Webinar Series: SALT Thoughts - Pass-Through Entity Taxes & Re...Citrin Cooperman
During this webinar, we discussed how to potentially mitigate the impact of the state and local tax (SALT) cap at the federal level. New York State has joined the list of states that have enacted an elective pass-through entity tax in an effort to do just that. We also dove into the possibility of changing residency to a low-tax or no-tax state. With state tax rates on the rise in some places and the realization that remote work is doable, many individuals are contemplating making a move. To succeed in making a change like this, one must be aware of the technical rules and be willing to significantly adjust one’s life. We talked through all these considerations.
The document provides information about common life events that can affect tax situations and advises contacting a tax professional for advice on tax implications. It lists several major life changes like job changes, marriages, retirements, home purchases or sales, and distributions from retirement accounts that could impact taxes. Taxpayers are encouraged to consult a tax professional in advance of any transactions to understand potential tax effects and avoid negative consequences with proper planning.
Intuit Presents Tax Law Changes for Tax Year 2012intuitaccts
Get the very latest on important tax law changes that will impact returns for Tax Year 2012 from Intuit's Mike D'Avolio. These changes seem to come later and later each year. Let’s us do the legwork and keep you up to speed on current status of tax law changes and extensions.
IT 505 Final Submission Operating System Upgrade Implementation BriefEmmaDrinmk
The document outlines the requirements for a final project involving an operating system upgrade implementation brief. It includes three deliverables: a written report, an information assurance presentation, and web technology tutorials. The written report involves modifying code to display an upgrade message, describing a network configuration, and creating a database report. The presentation covers information assurance needs, risks, and countermeasures. The tutorials provide instructions for setting the company website as the homepage and enabling/disabling cookies. The project aims to illustrate implementing an operating system upgrade plan through these deliverables.
El relieve colombiano presenta variada geografía que incluye tres cordilleras andinas, llanuras interiores y costeras, y valles interandinos. El documento describe los diferentes sistemas de relieve en Colombia como las montañas de los Andes, otras montañas independientes de los Andes, y llanuras.
La multiplicación es una operación binaria que involucra sumar un número (multiplicando) tantas veces como indique otro número (multiplicador) para obtener un producto. El documento describe cómo se enseñará la multiplicación a los estudiantes a través de videos, operaciones abstractas y concretas con regletas, y juegos en línea para desarrollar su pensamiento lógico y cognitivo.
Space Science and Technology for Advancing Health-related SDGsrskramesh
The document summarizes a presentation on using space science and technology to advance health-related UN Sustainable Development Goals. It discusses leveraging benefits of space data like satellite imagery and geospatial data for public health applications. These include environmental monitoring, disease surveillance, health emergency response, and integrating space-derived data into national health information systems. The presentation calls for closer collaboration between health and space agencies to more widely adopt space-based approaches for strengthening health systems.
El documento detalla los trabajos de fabricación y montaje de varios depósitos, reactores y tanques de acero inoxidable y acero al carbono realizados por PAMA-P.I. Los Moreros para diferentes clientes, incluyendo cuatro reactores de AISI 316L, depósitos de AISI 304, tanques con patas y bridas de AISI 316, y un tanque de acero al carbono S275 JR de gran diámetro.
A passport number N5362693 was issued between 2006 and 2007. The passport was valid for travel during that time period. No other identifying information is provided in the brief document.
Each month we use Google Analytics and Google AdWord to track the success of our paid and organic key terms. We then use this to make suggestions for the next month.
Este documento presenta un diseño de situación de aprendizaje basado en los planteamientos de la didáctica crítica. Propone abordar el tema de los derechos humanos en bachillerato a través de tres momentos: 1) una apertura con un video y discusión en equipos, 2) un desarrollo con investigación y publicación de ensayos en un blog, y 3) un cierre donde los equipos analizan los ensayos de otros equipos. La evaluación busca ser un proceso de reflexión sobre el aprendizaje individual y grupal
Con un Aula Virtual puede tener una nueva línea de negocio que le aportará ingresos mensuales adicionales a su actividad, además de suponer un ahorro, puesto que no requiere el uso de instalaciones, y además como el material es digital no tiene costes como por ejemplo el de impresión de papel.
Puede explotar sus beneficios de dos maneras diferentes:
1) Creando cursos online para nuevos alumnos
2) Usando el Aula Virtual como apoyo para sus cursos presenciales.
La difusión de sus cursos la puede hacer desde las redes sociales o un sistema de cupones, así como la venta directa en una plantaforma como podría ser su propia página web, o desde diversas formas de publicidad, no dude en consultarnos y nosotros le asesoraremos y adaptaremos la forma a sus necesidades.
Le adjuntamos un pequeño dossier donde podrá ver los beneficios del Aula Virtual y sus principales características, además puede verlo online en el siguiente enlace:
http://www.pausacreativa.es/#!/pausa_creativa_aula
Pulse sobre ver dossier para acceder al contenido.
Todas estas ventajas y muchas más las tiene por tan sólo 59 euros al mes, con una permanencia de 12 meses, en este precio podrá tener un máximo de 5 cursos y 50 alumnos por curso, por únicamente 59 euros al mes más IVA, lo cual es un precio que cualquier academia puede amortizar y lograr beneficios desde el primer momento.
Contacte y pide una demostración del Aula Virtual, es la mejor manera de poder conocer de primera mano todos los beneficios y posibilidades.
Desigualdades sociales y políticas así como otros factores conducen a la migración. Se necesitan esfuerzos concertados entre países para buscar soluciones a este complejo problema migratorio. Se debe fomentar la comprensión de los asuntos migratorios, alentar el desarrollo social y económico, y velar por el respeto de la dignidad humana y el bienestar de los migrantes.
Nikhil Kumar has over 3 years of experience in plant and machinery maintenance and operations. He received a B.Tech in Mechanical Engineering from Lovely Professional University in 2012. His work experience includes maintaining batching plants, concrete pumps, excavators, generators, and other equipment as a Mechanical Engineer for S.P Singla Construction. He is proficient in MS Office applications and enjoys listening to music, swimming, and learning new things in his free time.
El documento describe la tradición de elaborar alfombras de sal, aserrín y flores en las calles de El Salvador durante la Semana Santa. Estas alfombras, que contienen motivos religiosos, se crean para el paso de la procesión del Santo Entierro el Viernes Santo. Miles de personas se reúnen a admirar las alfombras y a reflexionar sobre su fe durante esta importante festividad religiosa católica. Algunos argumentan que esta tradición tiene raíces tanto religiosas como indígenas.
The document summarizes changes to estate laws in 2011 and 2012. Key points include:
- The federal estate tax exemption was $5 million in 2011 and increased to $5.12 million in 2012. Tennessee's exemption remained at $1 million.
- The federal estate and gift tax rate was 35% in 2011-2012. Tennessee's maximum rate is 9.5%.
- Portability between spouses was extended, allowing married couples to shield up to $10 million from federal estate taxes. Tennessee does not recognize portability.
- Other changes included the gift tax annual exclusion amount and generation-skipping tax exemption and rates.
The document summarizes recent state and local tax developments in several southeastern states. It discusses legislation and court cases related to topics like corporate income tax rates, sales tax base expansion, tax incentives, fuel taxes, and the taxation of online travel companies. Key states covered include Alabama, Florida, Georgia, North Carolina.
Wassim Zhani Chapter 15 Income Taxation of Estates and Trusts.pdfWassim Zhani
1) The document discusses the taxation of capital gains realized by estates and trusts. Generally, capital gains are allocated to trust corpus and excluded from distributable net income (DNI). However, capital gains may be included in DNI under three situations.
2) The first situation does not apply based on the trust terms allocating gains to corpus. The second situation involves a required distribution upon a specified event, as in a 1031 exchange.
3) The third situation requires that capital gains be utilized in determining distributions. Here, the trustee's practice of routinely distributing gains to a beneficiary indicates the gains would be included in DNI.
The document summarizes key topics from a corporate tax institute presentation, including reporting organizational actions that affect securities basis using new IRS Form 8937, abandonment losses and worthless assets, upstream C reorganizations, purchase price allocations, reasonable compensation, and earnings and profits. It provides an overview and examples of each topic, such as how Form 8937 must be filed within 45 days of an organizational action or by January 15 of the following year.
The Mortgage Forgiveness Debt Relief Act of 2007 allows taxpayers to exclude income from the discharge of debt on their principal residence from 2007 to 2012. Up to $2 million of forgiven debt is eligible for this exclusion. The Act applies to debt forgiven through mortgage restructuring or foreclosure. It does not apply to debt forgiven for reasons unrelated to a decline in home value or financial condition.
This document provides information for a tax professional on important tax changes and provisions to watch for the 2021 tax filing season. Key points include the American Rescue Plan Act provisions making the first $10,200 of unemployment benefits non-taxable and increasing the child tax credit. It also discusses COVID-19 related credits, PPP loan deductions, mileage rates, bonus depreciation, excess business loss limitations, and many expiring tax provisions to be aware of. Locations and contact information for the tax preparation service are also included.
This document provides an agenda and summary of updates related to state and local tax laws. It discusses changes and developments in Oregon, California, Washington, Texas, and national state tax trends. Specific topics covered include changes to Oregon's corporate tax rates, personal exemption credits, IC-DISC tax regime, and new legislation on small business taxation. California updates include changes to its enterprise zone program and new partial sales tax exemptions for manufacturing and R&D.
TransPrice Times 16th - 31st March 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for the second fortnight of March 2017.
This periodical covers the important amendments made to Finance Bill 2017, which has now received the Presidential assent. In other recent updates, this issue covers the circular on Income Computation and Disclosure Standards (ICDS) released by CBDT, while the Tax Courts have delivered important rulings addressing key transfer pricing issues related to recharacterization of share application, depreciation adjustment.
We would be happy to know your suggestions. You can write to us at akshaykenkre@transprice.in
Thank You and Happy Reading!!
ABOUT THE PRESENTATION
This presentation is based on my first hand experience in income tax assessments over past 3 years. I have tried to expalin in breif as to what
transpired at ground level in each case without use of much of jargon.
It has dawned on me that learnings from income tax assessments has broader implications and extends to audit, income tax return filing,
accounting and overall working of organisations.
I hope that readers will find this presentation useful
This document summarizes several changes to Virginia's individual and business income tax laws for 2008 and beyond. Key points include:
- Mandatory electronic filing for tax preparers with 100+ clients, excluding certain returns.
- Conformity with recent federal tax law changes including increased Section 179 expensing.
- Increases to the personal exemption amount and filing thresholds through 2012.
- New subtractions for gains from space flight services and resupply services contracts.
- A biodiesel fuels tax credit for producers.
- Filing extensions for military serving overseas or in combat zones.
This document discusses deferred compensation plans for non-profit organizations. It defines deferred compensation plans and describes the main types: 457(b) and 457(f) plans. 457(b) plans allow executives to defer compensation until retirement and have contribution limits and required minimum distributions. 457(f) plans have no limits or restrictions. The document recommends a "bottom up" funding approach and provides guidance on reporting deferred compensation on Form 990 and Schedule J based on vesting. It provides contact information for Grant Thornton professionals who can provide additional details on compensation and benefits for non-profits.
Cares Act Tax Provisions: It’s Not Personal, It’s BusinessCitrin Cooperman
This document provides a summary of a webinar on CARES Act tax provisions. The webinar covered topics such as: bonus depreciation for qualified improvement property which was corrected by the CARES Act; amending 2018 and 2019 business tax returns to claim refunds; changes to accounting methods to claim missed depreciation; and changes to business interest expense deductions and net operating loss carryovers. The webinar was presented by various partners and addressed implications for C corporations, S corporations, partnerships and individual returns.
The document discusses various aspects of debt forgiveness income under U.S. tax law, including what constitutes debt forgiveness income, exceptions to debt forgiveness income, and to which taxpayers the exceptions apply. It provides examples and discusses issues related to insolvency, bankruptcy, qualified farm/real property indebtedness, principal residence indebtedness, and deferral of income from certain debt restructurings. It also briefly discusses passive activity loss rules and how the rules apply differently to real estate professionals.
EY - US Employment Tax Year in Review (November 2013)EY
The presentation covers:
- FICA on severance
- Fiscal cliff legislation – impacts for 2013 and beyond
- The additional Medicare tax began this year
- Reporting change in responsible party to the IRS
- 2010 HIRE Act – IRS notices and refund deadline
- Same-sex partner benefits in wake of Supreme Court ruling
- Affordable Care Act – what to know about 2014
- Unemployment insurance – new laws mean a new approach
- States go retro in 2013
- Pay card controversy – seven things employers should do
This document discusses key information reporting requirements and changes for 2016, including:
- Form 1098 reporting now requires property address, outstanding mortgage principal, and origination date.
- Form 1099-MISC due date for non-employee compensation in Box 7 changed to January 31, 2017.
- Mergers and acquisitions information reporting must be addressed in agreements, and successor entities may combine predecessor reporting in some cases.
- Substantial penalties apply for failure to file correct and timely information returns. Reasonable cause can sometimes waive penalties.
The document discusses the impacts of recent mortgage lending reforms on loan officers and borrowers. It summarizes that since 2009, three phases of reform - including changes to appraisal practices, disclosure requirements, and the Good Faith Estimate - have added 9 new forms to the loan process. This has increased compliance complexity, costs, and processing times. Borrowers are confused by the excessive information and often uninterested in details like fees paid by sellers. The reforms have unintentionally grown an industry around compliance at the expense of transparency and efficiency in lending.
California Incentives and Multi-State Tax Issues webinar slidesRoger Royse
An online discussion of various state tax issues for companies and individuals doing business in California. Our panelists cover recent developments in California income and sales tax, tax credits and incentives, multi-state tax issues for technology companies and state residency planning for individuals. Our panel of speakers includes:
Roger Royse, Royse Law Firm
Monika Miles, Miles Consulting Group
David Wittrock, Price, Wittrock CPA LLP
David Spence, Royse Law Firm
http://finishedexams.com/homework_text.php?cat=15808
Immediate access to solutions for ENTIRE COURSES, FINAL EXAMS and HOMEWORKS “RATED A+" - Without Registration!
http://finishedexams.com/homework_text.php?cat=15809
Immediate access to solutions for ENTIRE COURSES, FINAL EXAMS and HOMEWORKS “RATED A+" - Without Registration!
Similar to OnPoint Publications Tax Week in Review 11 18 2016 (20)
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
3 Simple Steps To Buy Verified Payoneer Account In 2024SEOSMMEARTH
Buy Verified Payoneer Account: Quick and Secure Way to Receive Payments
Buy Verified Payoneer Account With 100% secure documents, [ USA, UK, CA ]. Are you looking for a reliable and safe way to receive payments online? Then you need buy verified Payoneer account ! Payoneer is a global payment platform that allows businesses and individuals to send and receive money in over 200 countries.
If You Want To More Information just Contact Now:
Skype: SEOSMMEARTH
Telegram: @seosmmearth
Gmail: seosmmearth@gmail.com
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...
OnPoint Publications Tax Week in Review 11 18 2016
1. FOR THE WEEK ENDING NOVEMBER 18, 2016
ONPOINT PUBLICATIONS, LLC
Tax Week in Review
2. Opinions, Decisions & Rulings Released this Week
FRANKLIN v. COMMISSIONER- T.C. Memo. 2016-207
Issue: Did the IRS properly adjust taxpayer’s liability for S-corporation
dividends, S-corporation basis adjustments and omitted discharge of
indebtedness income?
• Taxpayer (T) filed late for tax years 2007 and 2008. No returns were filed
for 2009 or 2010. IRS determined deficiencies for all years based on:
• S-corporation distributions of 2007 recharacterized as dividends
• T lacked basis for S-corporation losses for 2007 and 2008.
• T’s cancellation of debt income was not reported in 2008.
• Other adjustments sustained or conceded were made in the final
determination for gambling winnings, unreported wages, interest income,
an IRA distribution for 2010 and unreported bank deposits.
ONPOINT PUBLICATIONS, LLC
3. Opinions, Decisions & Rulings Released this Week
Shareholder Loan Recharacterized as Dividend Income
• T was a 100% shareholder of Franklin Drywall, Inc. (FDI), an S-corporation.
Per FDI’s 2008 balance sheet, a Loan to Shareholder had a starting balance
of $218,342 and an ending balance of zero.
• Shareholder Loan Characteristics:
◦ No written note receivable or stated interest
◦ Open ended
◦ Classification as loan by the advice of his accountant and financial
services firm holding corporate debt.
• With no proof of repayment from T, amount was recharacterized by IRS as
a distribution for 2007.
ONPOINT PUBLICATIONS, LLC
4. Opinions, Decisions & Rulings Released this Week
Shareholder Loan Recharacterized as Dividend Income
The Tax Court disagreed with the IRS characterization.
◦ Having received the funds in a prior year, the classification of dividend
income would be an event for a prior year, which is not under
consideration for the tax year in review.
◦ As a distribution, it would not be classified as a dividend from the S
corporation, unless there were accumulated earnings and profits in the
retained earnings.
ONPOINT PUBLICATIONS, LLC
5. Opinions, Decisions & Rulings Released this Week
Pass-through Losses from FDI
• FDI’s 2007 Form 1120-S reported a loss of $501,448 and return was
marked as “Final” for 2007. T reported only $343,939 of the loss on his
2007 return.
• IRS disallowed all but $43,152, claiming this was T’s share of actual losses
for 2007. This amount was also disallowed for a lack of basis.
• T claimed that he was guarantor to corporate debt in excess of $1.7M,
owed to ARCO Business Finance Corp. (ACRO)
◦ In 2007, ACRO seized and sold T’s personal assets worth $496,000. T
testified that he still owed $500,000.
ONPOINT PUBLICATIONS, LLC
6. Opinions, Decisions & Rulings Released this Week
Pass-through Losses from FDI
• T claimed a loss of $107,298 from FDI. However, as 2007 was marked as a
final return, no return was filed for 2008. T did not provide any additional
record of the loss at the time of trial.
• IRS claimed lack of basis as evidenced by FDI’s $513,000 of stock and APIC
vs. a deficit retained earnings of $1,391,000 reported on Form 1120-S.
The shareholder’s basis would have been utilized for deducting losses in
prior years.
ONPOINT PUBLICATIONS, LLC
7. Opinions, Decisions & Rulings Released this Week
Pass-through Losses from FDI
The Tax Court decided otherwise.
• The Tax Court held that the 2007 loss under consideration was $343,939.
◦ Neither T nor the IRS explained or otherwise changed the reported loss
from $343,939 to $501,448 as reported on the corporate return.
◦ IRS also failed to address the issue of its determination to change the
loss to $43,000.
• The Court allowed the loss as T’s repayment of $496,000 of debts owed by
the corporation would represent an increase in debt basis for 2007.
• As no corporate return was on record for 2008, the 2008 loss of $107,298
was denied.
ONPOINT PUBLICATIONS, LLC
8. Opinions, Decisions & Rulings Released this Week
Pass-through Losses from FCS
• T claimed a loss of $187,503 from Franklin Construction Services (FCS) in
2008.
• IRS claimed T lacked sufficient basis in the corporation and denied the
deduction.
• Despite claims of a family loan for $500,000 and monies invested from IRS
funds, the Tax Court found no qualified evidence to support T’s claims and
denied the loss for 2008.
ONPOINT PUBLICATIONS, LLC
9. Opinions, Decisions & Rulings Released this Week
2008 Discharge of Indebtedness
• The Tax Court sustained an adjustment for $67,592 of cancellation of debt
income.
• T claimed to have been insolvent in 2007, but made no such claim for
2008.
The full text can be read here: T.C. Memo. 2016-207
ONPOINT PUBLICATIONS, LLC
10. Opinions, Decisions & Rulings Released this Week
THE MALULANI GROUP v. COMMISSIONER– T.C. MEMO 2016-209
Issue: Is the taxpayer entitled to non-recognition of gain under Section
1031(a) on its disposition of property?
• Taxpayer enters into a Section 1031 transaction:
• Taxpayer (T) and related entities lease commercial real estate
• T has fully owned subsidiary (MBL) and owns 69.67% of MIL.
• An unrelated 3rd party that made an offer to buy property from MBL,
with an allowance for a Section 1031 exchange.
• T used a qualified intermediary, necessary to qualify for Section 1031
treatment.
ONPOINT PUBLICATIONS, LLC
11. Opinions, Decisions & Rulings Released this Week
Transaction involving MIL, a related party
• Having failed to negotiate any purchase of suitable replacement property
from an unrelated party, one day before the 45 day identification period
expired, MBL decided to obtain its replacement property from MIL.
• Transfers were made through a qualified intermediary (QI).
◦ MBL property to QI, transferred to 3rd party buyer.
◦ Cash from 3rd party to QI, transferred to MIL.
◦ MIL property to QI, transferred to MBL
• MBL deferred its gain of $1,888,040. MIL reported a gain of $3,127,004
for its sale of property.
ONPOINT PUBLICATIONS, LLC
12. Opinions, Decisions & Rulings Released this Week
The Court Decides
• The IRS denied the non-recognition of MBL’s gain under Section 1031.
• MBL argued that having no preplanned arrangement of tax avoidance in
an exchange with a related party, the transaction should meet the
nonrecognition exception under Section 1031(f)(2)( c).
• Decision: The Tax Court rejected the premise that the lack of a tax
avoidance strategy met the exception under 1031(f)(2)( c). The Court
looked to the ultimate result of the transaction which resulted in MIL
receiving cash for its property.
The full text can be read here: T.C. MEMO 2016-209
ONPOINT PUBLICATIONS, LLC
13. In the News this Week
Rev. Proc. 2016-57 – IRS Creates New Fast track Mediation Program
for Appeals
The IRS is eliminating the mediation appeals process established under Rev.
Proc. 2003-41 and is replacing it with a new process - SB/SE Fast Track
Mediation Collection (FTMC) - specific to certain offer-in-compromise and
trust fund recovery penalty disputes.
The IRS has included examples of situations that may not be appropriate for
the FTMC program.
The full text can be read here: Rev. Proc. 2016-57
ONPOINT PUBLICATIONS, LLC
14. In the News this Week
Notice 2016-70 – IRS Extends Due Dates for 2016 Reporting of Health
Care Information §6055 and §6056.
The IRS has extended the due date for reporting certain health information
for insurers, self-insured employers, and certain other providers of minimum
essential coverage under section 6055 of the Internal Revenue Code (Code)
and for applicable large employers under section 6056 of the Code.
Specifically, due dates for Form 1095-B, Health Coverage and Form 1095-C,
Employer-Provided Health Insurance Offer and Coverage, originally due to be
issued to employees by January 31, 2017, will be due by March 2, 2017.
There is no change in the due dates for submitting Forms 1094-B and 1095-B
to the IRS. Both are due by February 28th (March 31st if filing electronically).
The full text can be read here: Notice 2016-70
ONPOINT PUBLICATIONS, LLC
15. In the News this Week
Need to change your client’s IRS payment agreement? Do it online.
You can change your client’s payment schedule (both for individuals and
businesses) using the online process. Per the IRS:
◦ This process allows a qualified taxpayer or authorized representative
(Power of Attorney) the opportunity to avoid long telephone wait times or
the need to visit or write to an IRS office to apply for an installment
agreement. Once you complete the online process, you will receive
immediate notification of whether your agreement has been approved.
◦ To qualify: You owe $50,000 or less in combined tax, penalties and
interest, and filed all required returns. You may also qualify for a short
term agreement if your balance is under $100,000.
The can read more about the process here: Online Payment Agreement
ONPOINT PUBLICATIONS, LLC
16. ONPOINT PUBLICATIONS, LLC
Need a Speaker’s Guide to accompany
this presentation?
Visit OnPoint Publications Blog and
“Tax Week In Review – Slides”
https://onpointpublicationsblog.com/