C corp converted to S corp results in B.I.G. tax.
This excerp is from the executive summary of an article cited below. When a C corporation converts to an S corporation or an S corporation
November 2, 2012 No Comments
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The basics of S corporation stock basis
This is a great article about the basics of S-Corporation shareholder stock basis. http://www.journalofaccountancy.com/issues/2012/jan/20114319.htm
October 5, 2012 No Comments
Preparing for a new mortgage or re-finance
If you prepare ahead of time for a obtaining a mortgage loan, it can make a big difference to make your deal go smoother and
October 2, 2012 No Comments
Tax Court: Itemized receipts required to substantiate deductions.
A recent court case (Gorokhovsky v. Commissioner, T.C. Memo. 2012-206) disallowed deductions because the taxpayer lacked itemized receipts necessary to substatiate deductions. Main Issue: Credit
September 6, 2012 No Comments
Partners are not employees and should not be issued a W-2
A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property,
June 3, 2012 No Comments
Charging Interest on Late Accounts Receivable in California
This is a very interesting short article on charging interest on Accounts Receivable in the state of California and how the CA Supreme Court ruled
March 15, 2012 No Comments
Merchant Voice Authorizations for Credit Cards
How (and Why) to Obtain a Voice Authorization Normally, QuickBooks Merchant Services obtains an electronic authorization before processing a transaction. However there are two scenarios
February 22, 2012 No Comments
Six Must-Ask Interview Questions that a candidate should ask you!
Six Must-Ask Interview Questions By Joe Turner Interviewing can be a gut-wrenching process. Most books on how to interview list hundreds of questions you need
December 16, 2011 No Comments
Tip: How to log off another QuickBooks user
QuickBooks Messenger is a feature introduced in QuickBooks 2009 that allows communication between QuickBooks users in Multi-user mode. You must be signed into QuickBooks in
September 30, 2011 No Comments
Speeding up Cash Flow Tip #1: Collect retainers up front.
Speeding up Cash Flow Tip #1: Collect retainers up front. This tip offers at least four benefits: 1. Confirms clients’ committment of your agreement, which
September 14, 2011 No Comments
August 22, 2011 No Comments
August 20, 2011 No Comments
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