…S. The parent corporation must show that disaffiliation and reconsolidation will not result in any tax benefit that would not have taken place had this process not occurred.Citation DetailsTitle: Reconsolidation of subsidiary corporations; waiver of the 60-month waiting period.Author: John L. KramerPublication: The Tax Adviser (Magazine/Journal)Date: April 1, 1992Publisher: American Institute of CPA’sVolume: 23 Issue: n4 Page: 245(9)Distr…
Filed under Books by on Feb 10th, 2010. Comment.
Corporations Failing To Claim AMT Exemption Overpay Taxes By $11,000 Does your incorporated business pay alternative minimum tax [AMT]? If so, there is a 93% chance you have been overpaying your taxes by an average of $11,000 a year according to the Treasury Inspector General. The Office of the Treasury Inspector General for Tax Administration was created in 1999 to oversee the IRS. One of the duties of the Treasury Inspector General is to study…
Filed under Tax Refunds by on Jul 30th, 2009.
ceeds 10 percent of adjusted gross income and a $100 floor. These rules were eased by the Act by eliminating the 10 percent rule and the $100 floor for hurricane victims. Corporate charitable contributions were eased allowing corporations to claim a charitable deduction for cash contributions related to these hurricanes without regard to the 10 percent of taxable income cap. Additionally, these Acts contain a number of tax incentives to encourage…
Filed under Tax Refunds by on Oct 17th, 2009.
BUY NOW!: TurboTax Business 2006 Corporations and Partnerships Low Price: $59.90 Features: Tax preparation software guides you through your return step-by-step for a fast and accurate refund Ideal for preparing and filing business income taxes; designed for corporations or partnership/LLCs, earning up to 250,000 dollars a year Prepares Forms 1120S (“S” corporations), 1065 (partnerships/LLCs) and 1120 (“C” corporations)…
Filed under Software by on Apr 24th, 2010. Comment.
…Further, a cost segregation expert can almost certainly sharply increase allowable depreciation. Who Benefits from a Cost Segregation Study If you own real estate and pay federal income taxes or expect to during the ownership period for the property, you will benefit from the results of a cost segregation study. This is true whether the ownership to the real estate is titled in a corporation, limited partnership or limited liability corporation. …
Filed under Tax Refunds by on Aug 5th, 2009.