Searching Content indexed under Income Tax by Thompson Coburn LLP ordered by Published Date Descending.
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Highlights From The Simply Tax Podcast: How To Choose An Entity For A Family Business (Video)
Choosing to structure a business as a C corporation, an S corporation, or an entity taxed as a partnership (often an LLC) is no simple decision
United States
24 Jan 2019
Planning For Business Exits From C Corporations; Intrafamily Business Transactions; Other Developments
Lower C corporation income tax rates have increased attention to the Code § 1202 exclusion for gain on sale of stock.
United States
17 Jan 2019
Unpacking The New Qualified Business Income Deduction For Real Estate Rentals
The 2017 tax reform introduced a deduction generally equal to 20% of qualified business income (QBI) or the taxpayer's taxable income, subject to certain limitations.
United States
12 Oct 2018
New Tax Law Eliminates NOL Carry Backs
In a blow to certain distressed companies, the Tax Cuts and Jobs Act of 2017 eliminates the ability of taxpayers to carry back net operating losses ("NOLs") ...
United States
29 Dec 2017
IRS Gets Upper Hand In S Corporation Compensation Audits
Any compensation the owner receives is subject to FICA tax, which imposes an equivalent burden. And the IRS frequently attacks owners who receive cash distributions from an S corporation...
United States
6 Jul 2017
Using An S Corporation To Avoid Self-Employment Tax
Our last post discussed self-employment (SE) tax and taxpayers' efforts to avoid that tax when using an entity taxed as a partnership to conduct business.
United States
2 May 2017
Tax Court Finds No Self-Employment Tax For Passive LLC Member
Self-employment (SE) tax is one of the driving forces when a tax advisor recommends what type of entity to use for one's business.
United States
7 Apr 2017
Lawyers: Give Your Clients A Business Entity Checkup
As we prepare for perhaps another round of major tax law changes, you might want to consider the status of your clients' legal postures.
United States
1 Mar 2017
Highlights From The 2017 Heckerling Institute On Estate Planning
Each January, the University of Miami hosts the Heckerling Institute on Estate Planning, the country's largest estate planning seminar.
United States
2 Feb 2017
CPAs: Top 10 List For Fiduciary Income Tax Returns And Planning
As we near tax season, below are some tips for CPAs when planning and preparing tax returns for trusts, along with a link to an upcoming webinar on this very topic.
United States
27 Jan 2017
Why A ‘Grantor Trust' Is A Good Addition To Every Estate Plan
The Internal Revenue Code is a long, complicated law with many subtitles, chapters, parts and sections.
United States
24 Jan 2017
Why Donor Advised Funds Are Useful For Year-End Charitable Giving
Donor advised funds are endowment-like funds that are operated by public charities.
United States
18 Nov 2016
How To Avoid Avoid Tax Traps In Life Insurance
Beware that an employer-owned life insurance contract might not qualify for the usual exclusion from regular income tax.
United States
9 Nov 2016
Proposed Changes To Section 2704 Could Spur Tax Increase For Owners Of Closely Held Businesses
Controversial proposed regulations issued by the Treasury and the IRS on August 4, 2016, would change rules for valuing interests in business entities of which a person or a family owns at least one-half.
United States
19 Sep 2016
Section 409A: Top 10 Rules For Compliant Non-Qualified Deferred Compensation
Internal Revenue Code Section 409A regulates nonqualified deferred compensation (NQDC) plans and arrangements, which are commonly used to provide supplemental compensation to key executives.
United States
1 Aug 2016
What You Need To Know About The Approximate Retail Value ‘ARV' In Sweepstakes And Contests
Virtually all official rules for sweepstakes or contests in the United States include the Approximate Retail Value (ARV) of each prize.
United States
22 Jul 2016
New Tax Filing Dates Revise Form 5500 And Form 990 Deadlines
The due dates for many tax returns were changed in an unlikely vehicle — the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.
United States
12 Aug 2015
Health FSA Carryover Amendments - Proceed With Caution
Recently the Internal Revenue Service published guidance that permits an employer to amend its health care flexible spending account program to allow a limited carryover of funds.
United States
28 Nov 2013
U.S. Department Of The Treasury Announces $3.5 Billion In Federal New Markets Tax Credit Allocation Authority
Yesterday the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (the "CDFI Fund") announced the award of $3.5 billion in Federal New Markets Tax Credit (NMTC) allocation authority through its annual and competitive application process. Eighty-five organizations certified as Community Development Entities (CDEs) received the awards, while over 282 CDEs applied.
United States
3 May 2013
Highlights Of The American Taxpayer Relief Act Of 2012
The Act in large part brought the country back from the "fiscal cliff," but it did not address all of the debated fiscal cliff issues, most notably spending cuts.
United States
11 Feb 2013
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