The Affordable Care Act has forever changed the healthcare system in the United States. It’s also forever changed the tax codes. The ACA was passed on March 23, 2010 and went into effect on Oct. 1, 2013. Changes that came with the ACA included improving the quality of healthcare and lowering healthcare costs, increasing access […]
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The Best Federal Tax Update Course presented by Jack Surgent
Recent tax changes require tax advisors to engage in extensive tax planning. Be sure to check out this popular course presented by Jack Surgent, CPA.
Ambiguity as a Two-Edged Sword
The practice of tax law can be reduced to one phrase: the application of a general statute to specific facts. See the Anheuser-Busch case below. In 2008, InBev N.V. acquired Anheuser-Busch, including a subsidiary called Metal Container. In 2009, InBev sold four of the Metal Container plants to Ball Corporation. Under one of the […]
Exempt Organizations and Payroll Taxes
When you assume representation of an exempt organization, consider suggesting that you perform a tax audit of the organization for all open years. When the representative of the exempt organization replies that the organization does not pay income tax, you’ll reply ‘generally no’ (questions of UBIT aside) but that your main concern is payroll taxes. […]
Work with the Clients’ Lawyers. Make Money!
It is a truth universally acknowledged that accountants and lawyers are not always on the best of terms. Given that some lawyers know little or nothing about tax, you should maintain a good working relationship with your clients’ lawyers. A simple example: Your client decides to form an S corporation. There are 9 other shareholders. […]