| Tax Shelters |
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| We hear about tax shelters all the time, but the average taxpayer is not quite sure whether they are good or bad. It is impossible to categorize all tax shelters as either good or bad. Each must be looked at separately and carefully to determine whether it is legitimate or abusive. More... |
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| IRA Withdrawals Used for Higher Education Costs |
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| Congress has passed a law permitting taxpayers to make withdrawals from their individual retirement accounts (IRA) to pay qualified higher education expenses for themselves, spouses, children, or grandchildren to a qualified educational institution. A taxpayer may also make a withdrawal from a Roth IRA to pay qualified educational expenses. More... |
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| Section 527 Political Groups |
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| A political organization subject to Section 527 of the Internal Revenue Code (usually called a 527 organization) is a party, committee, association, fund, or any other type of organization run primarily to directly or indirectly accept contributions and/or make expenditures for an exempt function. The exempt function of a political organization is influencing or attempting to influence the nomination, election, or any other type of selection of an individual to any public office or to an office in a political organization. More... |
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| Taxability of Property Exchanged for Corporate Stock |
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| You have decided to acquire enough stock in a corporation to control it by owning at least 80 percent of the combined voting power of all voting classes of stock and at least 80 percent of the outstanding shares of each class of nonvoting stock. You transfer property to the corporation, and you get your stock. Was there a taxable event? More... |
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| Employment Taxes |
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| As a taxpayer who runs a business, you have a million things to worry about. Customers, inventory, advertising, competition, and keeping good employees are just a few. On top of it all, the government imposes strict requirements on the collection and payment of employment taxes. More... |
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