The Tax Adviser
The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.
Tax consequences of employer gifts to employees - The Tax Adviser
Apr 1, 2024 · Tax consequences of employer gifts to employees By Karen Field, J.D., Washington D.C., and Nicole Kelley, CPA, MST, McLean, Va.
The Sec. 645 election to treat a trust as part of the estate
May 1, 2024 · A Sec. 645 election can streamline tax reporting and offer other tax advantages when a client with a living revocable trust dies. Read about the requirements for making a Sec. 645 election, the tax benefits of making the election, and how and when to make the election.
Assumption of Liabilities in Taxable Asset and Sec. 338 (h) (10 ...
When a purchaser (P) acquires the assets of a target (T) in an applicable asset acquisition as defined in Sec. 1060 or acquires the stock of T and a joint Sec. 338(h)(10) election is made, the basis in the assets acquired will generally include T’s liabilities assumed in the transaction.. However, determining the appropriate treatment of these liabilities is often a difficult ta
Advising S corporation clients on reasonable compensation - The …
Oct 1, 2024 · Contributors. Niyati Hemani, CPA, is founder of Hemani Financial Solutions LLC in Spokane, Wash., and a Chartered Accountant (India).Arthur Auerbach, CPA, CGMA, is an independent tax consultant in Atlanta.Hemani is a member, and Auerbach is vice chair, of the AICPA Tax Practice and Procedures Committee.
Bonus depreciation phaseout planning - The Tax Adviser
Oct 1, 2024 · Bonus depreciation phaseout planning By Caitlin Slezak, CPA, MST, Chicago; Michelle Abel, J.D., Boston; and Kyle Herndon, CPA, Atlanta
Guidance on Late Entity Classification Elections - The Tax Adviser
Nov 1, 2009 · The IRS released Rev. Proc. 2009-41, which gives eligible entities guidance on how to obtain relief when they make a late entity classification election. The relief is available for 3 years and 75 days after the requested effective date of the eligible entity’s classification election.
Small businesses and related-party transactions - The Tax Adviser
Oct 1, 2018 · A recent Tax Court case highlights pitfalls frequently encountered by small businesses that engage in related-party transactions without appropriate planning.
Why U.S. Businesses Should Be VAT Aware - The Tax Adviser
This item highlights awareness of the aspects of the VAT system that apply directly to overseas businesses so that they can seek professional advice at the correct time, thereby avoiding noncompliance and unexpected costs.
Employer-provided and company-owned vehicles - The Tax Adviser
Nov 1, 2022 · Employees generally must include in income the fair market value (FMV) of their personal use (including commuting) of an employer-provided auto (Regs. Sec. 1.61-21(a)(1)).