Business Consulting

News
CJBS

IRS Issues 2012 Vehicle Depreciation Dollar Limits

by Michael W. Blitstein, CPA  The IRS has issued limitations on depreciation deductions for owners of passenger automobiles, light trucks, and vans first placed in service during calendar year 2012.  Generally, depreciation deduction limits for calendar year 2012 are $100 more than the limits for calendar year 2011. For 2012, the depreciation dollar limits also […]
March 22, 2012
2 MIN READ
Tags: ,
Read More
Insights
CJBS

IRS Releases New Deductible Mileage Rates

by Matthew Bergman, CPA The IRS has released the 2012 optional standard mileage rates that employees, self-employed individuals, and other taxpayers can use to compute deductible costs of operating automobiles (including vans, pickups and panel trucks) for business, medical, moving and charitable purposes. The 2012 standard mileage rate remains at 55.5 cents per mile for […]
December 13, 2011
1 MIN READ
Tags:
Read More
Insights
CJBS

S Corporation Stockholder-Employee Compensation

by Michael W. Blitstein, CPA  S corporation stockholder-employees and their tax advisers often find themselves with conflicting goals when setting the stockholder-employee’s compensation. Typically, the stockholder-employee prefers to minimize compensation in favor of distributions to reduce payroll taxes. Tax advisers, however, are faced with a body of governing authority providing that the stockholder-employee cannot avoid […]
August 16, 2011
6 MIN READ
Tags:
Read More
News
CJBS

IRS Increases Mileage Rate to 55.5 Cents per Mile

by Larry Goldsmith, C.P.A., J.D., C.F.F.A. The Internal Revenue Service recently announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents […]
July 5, 2011
2 MIN READ
Tags:
Read More
Insights
CJBS

Fixing Our Country’s Economic Problems Requires a Change in Our Tax System

by Larry Goldsmith, C.P.A., J.D., C.F.F.A. The income tax system that we grew up with is suffering from dementia; it forgot that the purpose of taxation is to fairly tax individuals and businesses to support the funding of government services. Today, highly paid tax attorneys are retained to influence Congress to provide loop holes in […]
June 21, 2011
7 MIN READ
Tags: ,
Read More
News
CJBS

AICPA’s Proposal for Pass-Through Entity Tax Deadlines: A Tier or Two Away From Practicality

By: Donald J. Schaffer, CPA/ABV, CVA In recent years taxpayers and their accountants have been pushed later and later in their tax filings due to the delinquent receipt of Forms K-1 from their investments in partnerships.  In may cases the forms are received only days before filing deadlines, resulting in delinquent returns or costly amendments. […]
February 12, 2010
4 MIN READ
Tags: ,
Read More
Load More