Recently from the Blog
New 1099 questions on business tax returns
After the IRS finalized its tax forms for the year 2011, we became aware of two new questions on business tax returns (including Forms 1120, 1120S, 1065, and 1040 Schedule C): Did you make any payments in 2011 that would require you to file Form(s) 1099? If “Yes,” did you or will you file all [...]
Las Vegas CPAs helping new real estate investors
The real estate market crash has been brutal to Las Vegas homeowners who have become underwater with their mortgages or have lost their homes through foreclosures and short sales. For others who are more fortunate, the low housing prices in Las Vegas have provided them with the opportunity to purchase their first primary residence or [...]
New rules for deducting or capitalizing tangible property costs
The IRS has issued new regulations for determining whether amounts paid to acquire, produce, or improve tangible property may be currently deducted as business expenses or must be capitalized. The regulations will affect virtually all taxpayers that acquire, produce, or improve tangible property. Comprehensive and voluminous, the regulations virtually rewrite the rules in this area. [...]
Underfunded at the IRS?
The IRS has a new buyout program that encourages employees to accept early retirement. Under the new buyout program, about 400 employees are being offered $25,000 to exit the IRS early. This program is similar to the buyout offer that emerged last November. The November buyout also promised $25,000 to those that accepted early retirement. The buyout program [...]
