March 2013

 
 
 

Accrued Bonus Deduction: Not Just a 2½ Month Test

For taxpayers using the cash basis accounting method, determining when to deduct accrued bonuses is typically a straightforward matter - the compensation deduction occurs when the bonus is paid.... read more

 
 

Conservation Easements – Extension of Tax Incentives

The American Taxpayer Relief Act of 2012 (The Act) renews the enhanced charitable income tax deduction for qualified conservation easements through 2013. ... read more

 
 

An Introduction to MLPs

With interest rates still at historic lows, the current economic environment presents obstacles for investors seeking an attractive risk-adjusted yield. As an alternative solution, investors should consider an allocation to master limited partnerships (MLPs). ... read more

 
 

Participation in a Foreign Pension Plan

Form 8938 (Statement of Foreign Financial Assets), introduced in 2011 as part of the Foreign Account Tax Compliance Act (FATCA), requires taxpayers to report their foreign assets, subject to minimum values, and indicate where the related income is picked up on their tax return. ... read more

 
 

Help I’m Being Audited! The Many Ways to Pay

As part of our ongoing series covering the audit process, this article focuses on the payment stage of the exam and the courses of action available to taxpayers. Whether an audit is big or small, the fundamental procedures are the same. ... read more

 
 

Certainty in Tax Planning…For Now: The American Taxpayer Relief Act of 2012

Less than 12 hours into the new year, the House of Representatives passed The American Taxpayer Relief Act of 2012 (the Act).... read more

 
 

Cutler v. Franchise Tax Board and FTB Notice 2012-03 – What it Means for Taxpayers

The Franchise Tax Board (FTB) issued FTB Notice 2012-03 (Notice) on December 21, 2012 outlining the procedures the FTB will use to apply the California Court of Appeal’s decision in Cutler v. Franchise Tax Board (2012) 208 Cal.App.4th 1247. ... read more

 

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