Category: Business Practices

New IRS regulations affect Form 5472

On June 9, the IRS issued temporary and proposed regulations to remove the duplicate filing requirement for Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business (TD 9529...

Employee Fraud Basics–Part 1

Summer is here, and for many companies year-end financial reporting is complete, tax returns are filed, monthly reporting is down to a science (right?) and 2011 budgets are in place. So what should be on management’s minds? How about focusing...

What’s your “vision”?

The impetus for the growth or change of a company--your company--is VISION.  You have a vision of what the company is and what it will become.  Without a vision of the future, there will be no change or energy exerted...

New law creates refund opportunities for business owners

The Small Business Jobs Act of 2010, signed into law by President Obama September 27, 2010, had a little-reported change regarding general business tax credits that can have a big impact on the cash flow of some small businesses.  The...

“So, I want to buy a business…”

The senior members of CPA firms function, to a large extent, as business consultants for their clients.  This includes assisting clients in their efforts to acquire an existing business or possibly to start-up a new business.   Often clients will approach...

Tax tips especially for RESTAURANTS

For 2011 the IRS has some significant tax incentives for businesses, especially restaurants: Depreciation:  The bonus depreciation for equipment is 100% of the cost.  If you make leasehold improvements, they qualify for Sec 179 deduction which can be as great...