Category Archives: Uncategorized

IRS Issues Final Tangible Property Regulations – Repair v. Capitalize Property Improvements

The IRS has issued the much anticipated final tangible property regulations, and can be reviewed here,  and are expected to be published in the Federal Register on 9/19/13 .  New rules now guide taxpayers as to whether to repair v. capitalize improvements to property.  Covering 222 pages, and considered by many...
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Expect IRS Correspondence Audits of Small Business and Self-Employed to Expand into Multiple Year IRS Audits

The IRS itself is audited by the Treasury Inspector General for Tax Administration (TIGTA).  And in the most recent audit, TIGTA suggests that IRS Correspondence Audits should be expanded to  audit taxpayers for multiple years if it discovers that additional taxes are owed in one year.  WHAT TIGTA DID The...
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The Importance of Keeping Meeting Minutes for Your LLC or Corporation

Forming an LLC or Corporation is a typical strategy to protect your personal assets from claims of creditors for a business.  One of of the requirements for maintaining the LLC or corporation legal  existence (and the liability protection that it affords) is that the members/shareholders and the Board of Managers/Members/Directors...
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Obama Care Required Notice To Your Employees by October 1, 2013

Employers Required Notice to Employees Regarding Health Insurance Coverage.  Obama Care’s primary purpose was to expand access to affordable health care insurance. Central to this is the creation of new Insurance Exchanges (often referred to as the Marketplace). The Exchanges are intended to provide a competitive private health insurance market...
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