GETTING THE BEST TAX USE FROM A VACATION HOME UNDER TODAY’S RULES — PART II
Posted by Kim Chen on July 8th, 2018
Despite the uptick in interest rates, an improved economy may lead to a resurgence of interest in vacation or second homes. These properties offer a chance to provide the family with a place to rest and relax at a reduced cost when compared to expensive short-term resort rentals, and at the same time give owners […]
GETTING THE BEST TAX USE FROM A VACATION HOME UNDER TODAY’S RULES — PART I
Posted by Kim Chen on July 3rd, 2018
Despite the uptick in interest rates, an improved economy may lead to a resurgence of interest in vacation or second homes. These properties offer a chance to provide the family with a place to rest and relax at a reduced cost when compared to expensive short-term resort rentals, and at the same time give owners […]
MORE AUDITORS LOOK AT CYBERSECURITY
Posted by Kim Chen on June 30th, 2018
A PCAOB official said more audit engagement teams today are including cybersecurity when they do a risk assessment of a client. The auditor’s increased scrutiny about whether cybersecurity breaches have affected financial reporting or internal controls comes as the frequency and severity of cyberattacks have increased. PCAOB inspectors are seeing an increasing number of audit […]
HOW U.S. TAX REFORM REWARDS COMPANIES THAT SHIFT PROFIT TO TAX HAVENS
Posted by Kim Chen on June 25th, 2018
Michael Erman, Tom Bergin, Reuters As reported by Reuters, the corporate tax cut enacted in the Tax Cuts and Jobs Act (TCJA; P.L. 115-97, 12/22/2017) was in part designed to help dissuade U.S. companies from moving profits overseas, but may instead make the practice a lot more rewarding. Under pre-TCJA law, companies which shifted profits […]
PARTNERSHIP FAILED TO SHOW EXTENSION REQUEST WAS TIMELY MAILED
Posted by Kim Chen on June 22nd, 2018
Jones, Bell, Abbott, Fleming & Fitzgerald, LLP v. U.S., (DC CA 6/15/2018) 121 AFTR 2d 2018-860 A district court has concluded that a partnership failed to sustain its burden of proof to show that it timely requested an extension of time to file and that IRS improperly assessed a failure-to-file penalty under Code Sec. 6698 […]
