Latest Articles

  • New York Sales Tax Audits: Are Test Period Agreements Binding?

    By:
    Brian Gordon, CPA
    |
    Jan 1, 2016
    There are many different types of sales tax audits.  Audits of cash businesses, which are often closely-held or family-owned businesses that lack internal controls, are very common. 

  • Final Regulations on F Reorganizations

    By:
    Michael Schonig, CPA
    |
    Jan 1, 2016
    On Sept. 21, 2015, the Treasury Department and IRS released final regulations providing clarification on the qualification of transactions as “F Reorganizations” under IRC section 368(a)(1)(F). 
  • The Crowdfunding Craze: A Primer for Tax Professionals

    By:
    Sean Mathey, Esq.
    |
    Dec 1, 2015
    The popularity of Internet crowdfunding has exploded in recent years.  As individuals and businesses turn increasingly to this alternative form of financing, the regulatory response has been outpaced, leaving tax and legal advisors on uneven ground regarding client counsel.  
  • Retirement Plans: An Overlooked Benefit for Business Owners
    Higher Contributions and Greater Flexibility

    By:
    Kenneth A. Horowitz, CLU, ChFc
    |
    Dec 1, 2015
    Many CPAs ask if companies are still sponsoring defined benefit plans.  They are usually surprised by how the current pension rules are “business-owner friendly.”  
  • IRS Proposes Implementing a Donee Report Form

    By:
    John Vazzana, CPA, CGMA
    |
    Dec 1, 2015

    The Omnibus Budget Reconciliation Act of 1993 (“OBRA93”) contained two major provisions affecting charities and their donors by introducing the "substantiation" and "disclosure" requirements.

  • The CPA’s Annual Life Insurance Audit

    By:
    Laura Sherris, Esq.
    |
    Dec 1, 2015
    Based on a recent study by the National Association of Insurance Commissioners, over 60% of people who own life insurance have no idea what they own or how it works. 
  • New York State and New York City Business Allocation: What Has Changed, and What Has Not

    By:
    Brian Gordon, CPA
    |
    Nov 1, 2015
    In the past few years, there have been vast changes to the landscape of corporate allocation in the world of state and local taxes.  
  • Maintaining Beneficial Tax Treatment of Employer Stock After Job Loss

    By:
    Daniel Mazzola, CPA, CFA
    |
    Nov 1, 2015
    A combination of low interest rates, abundance of cash in company coffers, and a need for growth has led to an explosion of corporate mergers and acquisitions this year.  
  • Newsmaker: Diana Leyden, New York City’s First Taxpayer Advocate

    By:
    Chris Gaetano, Trusted Professional Staff
    |
    Nov 1, 2015
    In July, Diana Leyden became New York City’s first-ever Taxpayer Advocate, a new office within the city’s Department of Finance from which she will help taxpayers navigate the city’s tax code, while also working to address systemic issues that impede taxpayer compliance. 
  • Abandoned Property: The Silent Liability

    By:
    Joseph Endres
    |
    Nov 1, 2015
    Winter is right around the corner. For businesses holding abandoned property on their books (and virtually every operating entity holds abandoned property, whether it knows it or not), that means it’s time to start preparing the annual abandoned property return.  
Tax Quote
 

“The problem is not that the people are taxed too little. The problem is that government spends too much.” 

– Ronald Reagan

*Outside the Box is a new addition to the TaxStringer featuring important articles on financial and investment management topics by top authors who have expertise both inside and outside the realm of taxation.

 

 

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