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Tax Treatment of Deferred Revenue in a Taxable Stock Acquisition

The general rule under Internal Revenue Code §451 is that an item of income shall be included in gross income for the taxable year or receipt unless ... read more >

IRS Increases De Minimis Safe Harbor Threshold

Tax

By Gary Sliman

The IRS issued Notice 2015-82 on November 24, 2015, stating that taxpayers without an applicable financial statement can elect to deduct purchases of tangible ... read more >

Affiliated Groups Can Elect to File Combined Returns in Michigan

Tax

By Gary Sliman

Recent Michigan tax legislation (S.B. 367 effective December 30, 2013) allows an “affiliated group” to elect to be treated as a “unitary ... read more >

PA Provides Guidance for Deducting Section 179 Property

Tax

By Gary Sliman

Section 179 allows a taxpayer to make an election to expense eligible tangible property in the year of acquisition as opposed to capitalizing and depreciating ... read more >

IRS Explains How to Claim Expanded Work Opportunity Tax Credit For Qualified Veterans

Tax

By Gary Sliman

The VOW to Hire Heroes Act of 2011 (VOW), enacted November 21, 2011, added two new categories of veterans to the qualified veteran target group. The Work ... read more >

Pennsylvania Continues Employer Surcharges for Unemployment Contributions

Tax

By Gary Sliman

Due to the insolvency of the Pennsylvania Unemployment Trust Fund, employers will be assessed various add-ons to their basic contribution rate in 2012. ... read more >

California Adopts Single-Sales Factor Regulation

Tax

By Gary Sliman

The California Franchise Tax Board has adopted a franchise and income tax regulation allowing taxpayers to use a single-sales factor for apportioning income ... read more >

Pennsylvania Conforms to 100% Bonus Depreciation

Tax

By Gary Sliman

The Pennsylvania Department of Revenue (DOR) recently issued guidance in Tax Bulletin 2011-01 regarding a change in the calculation for bonus depreciation. ... read more >