May 2011 tax compliance calendar As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers Read the Rest↵
How Do I? Write Off Bad Business Debts A business with a significant amount of receivables should evaluate whether some of them may be written off as business bad debts. A business taxpayer may deduct business bad debts if the Read the Rest↵
FAQ: What is a limited liability company? A limited liability company (LLC) is a business entity created under state law. Every state and the District of Columbia have LLC statutes that govern the formation and operation of LLCs. The main Read the Rest↵
Next year’s tax return starts with good recordkeeping As the 2011 tax filing season comes to an end, now is a good time to begin thinking about next year’s returns. While it may seem early to be preparing for 2012, Read the Rest↵
IRS offers fixes to new 100 percent bonus depreciation Taxpayers that place new business assets other than real property in service through 2012 may claim a “bonus” depreciation deduction. Although the bonus depreciation deduction is generally equal to 50 percent Read the Rest↵
Scope of information reporting continues to expand Information reporting continues to expand as Congress seeks to close the tax gap: the estimated $350 billion difference between what taxpayers owe and what they pay. Despite the recent rollback of expanded information Read the Rest↵
