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Retainers — essentially a guaranteed monthly income from a commercial writing client — can benefit both writer and client. Taking advantage of a new service offered by his literary agency, Pulitzer Prize-winner David Mamet will self-publish his next book. Publishers don't deliver the marketing they promise, and money is also an issue.

A standard contract with a traditional house gives an author an advance, and only pays royalties — the standard is 25 percent of digital sales and 7 to 12 percent of the list price for bound books — after the advance is earned back in sales. Many comments!

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Interesting analysis of results. The links to publications go to the "writer's guideline" pages. Publish your pricing? Hit yourself with a stick? Walt Kania, The Freelancery, Is there no good substitute for your product? Does your price tell a story? Contributors to the Huffington Post have begun to chafe at its no-pay policy.

They could take a lesson from stand-up comedians who faced a similar insult in the s. In bold. Walt Kania, The Freelancery, , p. Department of State. If you're estimating travel costs abroad, these might help. The foreign travel per diem allowances which vary by country and within a country provide for lodging, meals, and incidental expenses when an employee is on temporary duty overseas.

To get her first technical writing job, Pam Hurley called and called and called. Finally she got a gig teaching employees how to get to the point. What are they looking for in a pitch and an editorial relationship? Scratch invited web editors from Slate, The Atlantic, and The Toast to talk openly about fees, pitching, and other controversial issues in online journalism including how to pronounce 'gif'.

Summaries of CASE statements etc. For example: There is high turnover in fundraisers and women earn less than men at the job. Nate Thayer responds. Cord Jefferson, Gawker, [Back to Top]. How much and how do ghostwriters charge Most of the ghostwriters and collaborators I know go for more upfront money and charge more for no byline. Some of them charge an hourly fee for the research, which can eat up a great deal of time, and then a flat fee for the writing.

Authors the ones with content to be shaped into a book often think the writers the ones who will actually get the book written will be willing to write a whole book for their share of income. Most professional writers know that there are rarely many royalties beyond the publisher's advance and many authors are willing to pay a writer's fee higher than the publisher's advance--because for many authors, the income is not the most important goal. This is particularly true in this era of falling advances.

Indeed, for many "authors" of nonfiction books, in particular, the book is a credential and the ghostwriter is a business expense--the real money will be made from the business or speaking fees, especially for motivational speakers that come because of the book. For a book that is self-published an increasingly common practice , of course, there is no standard and trustable way to share "royalties" and ghosting a book may be part of a bigger package: both writing the book and handling production particularly with memoirs and family histories--or the increasingly common personal history.

She also offers occasional workshops on ghostwriting. Covers typical ghosting fees and terms to cover in your collaboration agreement. See section on Book collaboration and ghostwriting. Brian A. Klems, Writer's Digest, A tenth category, "a sound recording," was briefly added and then quickly removed from the statute after intensive lobbying by recording artists. Attracting, nurturing, and wisely choosing clients and knowing when to let them go Some items about "job interviews" are included because in a sense each effort to land a freelance gig can be like a job interview--except you'll be expected to deliver on your own.

Master the art of up-selling. Up-selling with just one or two options converted the best. Use persuasive words to command higher rates. Sample: "Most times, the client is just as uncertain and clueless as you are. Especially if they are yelling. Bly doesn't give referral fees because he wants his clients to know his referrals are objective. Referral gifts are another matter -- and not a bad idea if someone has referred a client to you. You can send ME lobster! Hayden advising, If you don't have enough time for marketing, something about your business needs to change.

Stop what you're doing, and take the time to figure out what it is. They make it clear why they fit the organization. They show they're listening. They write thoughtful thank-you notes. Nearly every entrepreneur exaggerates his or her company's size to impress clients. Jason Fried Inc. June says such behavior is silly—and unnecessary. Don't exaggerate your experience either! Rich Adin, An American Editor Cash-flow is key for small businesses. Improving yours could be as simple as changing a bit of wording on your invoices. Here's how. Brown, Inc. Read the Summary of Independent Worker Survey or the full report.

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Sample contracts and agreements The focus here is on U. Download a copy of the Law and Rules. This excellent contract VERY clearly spells things out in important areas most editors probably never think about. IRS--believe me, this issue will come up, if you freelance. Hire a lawyer when the expensive words "liens" and "bond" appear. See Contract terms book publishing, including reversion of rights clauses and Books about rights, contracts, copyright, clearance, and other issues of importance to writers and editors.

Thaler-Carter, On the Basics, An American Editor, It's good to be flexible; it's possible to negotiate a higher fee for onsite work; working at home can be isolating and insulating; and so on--as opposed to working in your jammies. Rights are very much an issue on this kind of contract. I did not spend one single dime on anything business related. These are the women of color who were her victims. Rather than move up, employees may move sideways freeflowing ideas and career paths , taping into new networks. There will be more workplace monitoring or GPS, or reporting on each other's performance, etc.

Retirement will be pushed back; elders will keep working--which could raise GDP. Molly McCowan, Copyediting, Factors to consider: amount of risk, tightness of timeline, market rate for a particular service way more for complex storytelling than for proofreading, for example , other benefits a client offers, etc. Miller, Notes from a Hired Pen, Four time-honored strategies for navigating the gig economy. Many freelancers among us suspect that this is going to be a raw deal for freelancers. Accepting that editing was a business with great financial potential meant that I tackled creating that business as if it were could be a highly successful, organized and structured business.

That meant setting a workweek, buying medical insurance, establishing and funding a retirement account, establishing and funding a vacation account, and so on. See also the material he added to his website: Catherine E. Oliver on what's required for technical writing. Norman's other reports include How to find and price medical writing jobs For more such summaries, including an interesting piece on text retrieval and search engines , go to Bauman's website, Medical Writing in New York.

A dose of reality about writing for magazines, from a man who wrote for the top magazines. It is also—more so? It will not even be a fleeting thought in the editor's mind. The freelancer can have a lot of fun, but is ultimately the editor's plaything. And any one freelancer is, above all things, unnecessary and replaceable. During my relatively brief stint as a staff writer, I saw the wide discrepancy between labor and payment for staffers versus the freelance work our site and many others rely on to fill content columns and drive traffic.

Pricing based on cost makes no sense. Price based on value of the product to your client or customer. Definition and Example Allena Tapia, The Balance, A word of warning: Some publishers include escape clauses in contracts or agreements that allow them to dodge a kill fee if you produce substandard work. Part II Kendall Powell, The Open Notebook, Your contract "should include a kill-fee clause with a minimum of a 25 percent payment of the fee if the article is deemed unacceptable.

Many of my own contracts have a 50 percent kill fee. If an article is in acceptable condition and meets the original assignment, but the publisher decides not to run it for internal reasons, then the writer should be paid in full. When that happens, you may want to negotiate a kill fee. We'll explain how it's done. Wait — What's a Kill Fee? Chuck Sambuchino, Writer's Digest, "Cost. Pick any two. Two out of three is fine. People will tolerate how unpleasant you are if your work is good and you deliver it on time.

People will forgive the lateness of your work if it is good and they like you. Some freelancers look for very high-deductibles, mostly basic coverage for catastrophic highly expensive care mostly in-hospital, but outpatient chemo can also be extremely expensive. Others look for an integrated healthcare system such as Kaiser Permanente , believing in preventive health maintenance. I'll start with some links that may be helpful under the Affordable Care Act Obamacare , though what will happen to that under Mr.

Trump is anyone's guess. The federal Health and Human Services agency has posted an interactive map that provides some useful information. It also provides a link to state exchanges and websites. And the government says it's not all great. Paige Winfield Cunningham, WaPo, "President Trump intends to sign an executive order this morning expanding association health plans.

But 25 years ago, federal watchdogs concluded that such plans ripped off hundreds of thousands of Americans by refusing to pay their medical claims while violating state insurance laws and even criminal statutes. Association health plans -- which are basically MEWAs that are tied to a trade association such as the U. Chamber of Commerce -- have been around for a long time, but had to operate in a single state and were subject to ACA regulations under Obama-era rules.

Trump is seeking to broaden their ability to function by instructing a trio of Cabinet departments to rewrite the federal rules governing them. In these arrangements, a trade association acquires health coverage that small businesses, individuals or nonprofits could buy into.

Sometimes plans tried to duck regulations entirely, the agency found. Courts mostly sided with the states in these legal battles, but they still cost states large amounts of staff and time. Note the date; some things have changed. Why freelancers need private disability insurance, and when to get it. Liability and property insurance Many authors routinely strike out or modify the part of any contract that holds the client or publisher blameless for any suits related to a particular story.

Clearly it makes no sense for writers to agree to indemnify and hold blameless the client or publisher. Some publishers' contracts include indemnification clauses that hold the publication blameless and assign the burden of liability to the writer even though editors may change the content. But even for a nuisance lawsuit, legal costs can be substantial. The Guild has an agreement with AxisPro to offer its members professional liability insurance.

Download the FAQ for more details. Leading underwriter of media liability insurance. Tomorsky, CPA, J. You belong to something more. As a WICPA member, you have more access to more resources and opportunities for education and involvement. You also have more credibility and more representation. The first area you benefit from is more representation. We fulfill this by serving as an advocate to build relationships and promote the interests of CPAs with governments, regulatory agencies and other organizations.

They rely on us for our information and expertise. Download a brochure with a contribution form at www. Volunteer to be a legislative contact. Serve on the Public Policy Committee. Contact your legislators. As a constituent who spent time writing them and is likely to vote, your message is sure to get attention. Join us for Advocacy Day on Jan. WICPA members will meet with legislators and their staff on current issues impacting the profession and Wisconsin businesses.

पैतृक संपत्ति और टैक्स - Tax Guru

However you choose to get involved, you benefit from more representation among Wisconsin lawmakers and the high level of regard they have for WICPA members. Change of address should be sent to: Membership, N. Articles may be reproduced with permission. What we teach our children goes with them as they navigate through the winding roads of life. For most of us, the top three resolutions are usually losing weight, getting organized, and spending less and saving more. The WICPA may not be able to help with the first two, but there are several ways it helps the public become financially fit.

In this program, CPAs in the Milwaukee area visit elementary schools to promote financial literacy through reading and discussion with their students. If you would like to participate with this inspiring program, please contact Mary Murray at mary wicpa. The stores pair high school educators with CPAs and local businesses to organize a financial simulation. During the simulation, students choose a career, receive a salary for the career, and then make decisions on expenses based on a budget they create.

Expenses in the budget include housing, transportation, entertainment and taxes. These empowering programs occur throughout the year and volunteers to help at the events are always welcome. In addition to the Reality Stores, several members — me included — have spoken to local high school accounting and business classes about various financial topics.

Topic requests typically include how to create a budget, the importance of saving and establishing credit. Young minds have some fantastic questions, but our conversations tend to end the same way. If you spend more than what. Due to budget constraints, only 25 percent of Wisconsin school districts currently teach personal finance, according to the Wisconsin Department of Financial Institutions. The personal stories and money saving strategies from CPAs in this book are a great resource for people at all stages of life.

Teaching financial literacy and responsibility to every person benefits us all. So do your part and spread the wealth! Danica E. Contact her at or dolson bucks. Registration will open approximately eight weeks prior to each conference. To learn more, visit www.

We help you capitalize on new opportunities to drive performance, cut costs, manage risk and increase revenue. And you can watch your company flourish.


All rights reserved. Experis Finance is a not a certified public accounting firm. Now, you can add On Balance to the list. Why have we gone digital? In , we surveyed members like you to gauge how we could improve this magazine, and many of you responded. Each issue will feature vibrant, high-resolution images. Each will also be password protected, allowing only members like you exclusive access to this valuable member benefit.

You can also download a PDF of the magazine, and print or email it. Other features will allow you to zoom in to see larger type, search for words or phrases and jump to online links. Watch for an email containing a link to the new digital issue on Jan. You can still enjoy the same printed version of the magazine that you always have. Whether you choose to read this magazine in print or digital format, you can still find relevant information that affects you as a CPA. Both formats will provide in-depth articles on current. You can also learn about conferences, special events, promotions, awards and new hires.

This issue of On Balance highlights tax, featuring a cover story about Robert S. In the article, he discusses his multifaceted career in tax and estate planning. Also, read about potential federal tax changes for , best practices for reducing exposure to tax preparer penalties and preventing a data breach.

Cynthia M. Hodnett is editor of On Balance magazine. Contact her at ext. Friedman, CPA, J. Kollauf, J. With many years of combined tax experience, the three CPAs said they wanted to provide testimony from a practical perspective. The bipartisan committee consists of four state Assembly representatives and four state senators. Kooyenga cited data that ranked Wisconsin the fourth highest in the nation for its state-local tax burden. The state placed No. According to the instructions to Form 1, there are at least possible adjustments to federal adjusted gross income.

This should be done on a revenue neutral basis. From these discussions, the committee will develop solutions to reform the state income tax, which Gov. Scott Walker could include in the — state budget. The top 2. Because of refundable tax credits, some Wisconsin residents pay a negative income tax, which means they pay no tax but receive a tax refund. The committee is also considering the possibility of reducing tax rates to stimulate economic growth. The Tax Foundation rated Wisconsin as one of the least favorable states for business: 43 out of 50, Kooyenga said.

During his testimony, Jasper gave several examples of how many of his clients must compute depreciation at least five different ways, which creates huge compliance costs. This tax will affect 51 percent of the married taxpayers in Wisconsin who file joint income taxes. When something happens to your home or car, it may not be a disaster.


But whatever it is, you always deserve fast and fair service from your insurance company. West Bend provides a Silver Lining, no matter what the claim may be. Sometimes little things mean a lot. And every day, when something bad happens to someone, West Bend makes sure our customers experience the Silver Lining. Because the worst brings out our best. Whether the changes will be temporary or long term is uncertain, although the era of temporary fixes and sunset provisions likely will continue.

Whatever the case, legislative changes promise to be a top issue for One legislative change that bears note and is effective in is the health care legislation imposing the Medicare tax on certain net investment income. Had the results of the presidential election been different, the tax may have been delayed either temporarily or permanently.

While much planning occurred in in anticipation of the tax, planning for this new tax will again be a significant issue in Foreign compliance issues While not every U. Since then, practices have been exposed. The IRS has implemented several offshore voluntary disclosure programs with varying degrees of success. The reporting and withholding obligations will be phased in beginning in The payments subject to reporting include interest, dividends, wages, and other fixed and determinable income.

In late , the IRS issued long-awaited temporary and proposed regulations regarding capitalizing certain costs of repairs and maintenance. The new regulations are the result of an eight-year undertaking by the IRS and the U. Treasury Department. Given their near universal application to taxpayers, their implementation is an important tax topic for the upcoming year. As noted, the IRS issued temporary and proposed rules in late , which became effective at the beginning of Final regulations are expected in early The primary issue addressed in the temporary regulations is whether to capitalize or expense the costs relating to the maintenance and alteration of tangible property, both real and personal.

While a complete discussion of the rules is beyond the scope of this article the temporary regulations were more than pages , they were comprehensive. The temporary regulations provide that changes to comply with the regulations represent accounting changes under Internal Revenue Code Section , and they should be reported as such.

Implementation will be complicated. In , the IRS issued two revenue procedures to provide transition guidance: Revenue Procedure procedures for changing to new capitalization rules and Revenue Procedure procedures for changing to the new depreciation rules. In addition, the IRS has issued directives regarding audits involving the capitalization rules.

Given the broad application and comprehensive nature of the repair regulations, their continued implementation will be one of the top tax topics in Daniel B. Contact him at or dgeraghty whdlaw. Before you can be elected to the board, you will be required to serve in a volunteer role at the WICPA. The path to leadership generally starts with joining a committee or task force in an area that interests you.

Labels: comix. Will I invalidate the exchange if I don't use all the money held in escrow to buy replacement property? Not reinvesting the full amount of your disposal leg proceeds won't invalidate the exchange if everything else has been done properly. However, it will, in most cases, not allow you to roll all of the gain from the original property into your replacement property. The actual calculation for the Form worksheet is a little messy; but the quick and dirty way to look at is that the unreinvested funds will be taxable in the year that you receive them.

For example, if your disposal leg happened in and the day reinvestment period expires in , and you are sent the remainder of the funds in , the taxable portion of the gain will be shown on your tax return as a deferred installment sale, with the actual gain subject to tax on your tax return. If both ends of the exchange happened inside the same tax year, the unreinvested potion will be subject to tax on that year's tax return.

The tax rate that the unreinvested funds will be hit with will be the highest rate applicable to the property's disposal. I hope you're picking up on the fact that the actual tax calculations are very tricky and are not something you should even think about attempting on your own. I hope this helps. We the tenant just received a for a refund of our security deposit office space that we rented from a previous landlord.

It is my understanding that security deposit is not income to the landlord when received nor to the tenant when returned to the tenant. It would only convert to income if it is forfeited and that would be income for the landlord not the tenant. Can you point me to some printed verification of my thought or tell me I am incorrect? How landlords treat the handling of security deposits is optional.

One way and the technically correct way is to book it when received into a liability account and not as income. If it is later forfeited by the tenant, it is transferred from the liability account into the Rent Income account. If it is repaid to the tenant, the check is posted to the same liability account as the deposit was and would thus not be a deduction from current year income.

Since that is a little too complicated for many people to keep track of, what is more commonly done in real life is for the landlords to use a more pure cash basis of reporting rental income and expenses. Under this method, all monies received, including potentially refundable security deposits, are reported as rent income in the year received. Any security deposits refunded to tenants are then deducted as expenses in the year paid out. As long as the security deposits are handled consistently under whichever method the landlord chooses, things will be fine.

This only applies to money specifically designated as security deposit and does not apply to any money paid by the tenant which is specified as Last Month's Rent. That is taxable income to the landlord in the year it is received, even though the last month could be several years away. Here is an excerpt from Page of the latest edition of The TaxBook , a reference source any good tax pro should have: "Security deposits.

A security deposit is not included in rental income when received if the property owner plans to return it to the tenant at the end of the lease. If any amount is kept during the year because the tenant did not live up to the terms of the lease, include that amount as rental income. If an amount called a security deposit is to be used as a final payment of rent, it is advance rent and is included as income in the year received. As your own personal professional tax advisor will most likely confirm, your treatment of the refunded security deposit on your tax return will need to be consistent with how you accounted for the original payment of that deposit.

If you followed proper accounting methodology and booked it into an asset account on your books, the refund will be posted to that same asset account and will not be income to you. If, on the other hand, you deducted that payment as a rent expense, you will need to pick up the refund as either income or a reduction of the current year's rent expense. The latter would be the proper way to handle a refund of a previously deducted expenditure.

Your own professional tax advisor can give you more specific advice on this matter. Hello Kerry: Thank you for providing such wonderful information. My question is rather simple. I acquired rental property in and want to amortize the loan costs. I understand how to calculate the amortization and that it is reported on line 18 "Other" of schedule E. However, since I acquired the property and mortgage in I need to file Form The amortization is done in Part VI of the form and everything is fairly straightforward except for 2 things.

I've searched the IRS site and the intranet high and low but can't seem to find any information on this. Form instructions list some codes, am I to use one of them? The only one that seems to make sense is Section - Certain intangibles. If I use code , am I stuck with a 15 yr term? Thank you.

When I enter a new loan costs item into the Lacerte depreciation schedule, I always choose Code Section - Points as the appropriate amortization code section and manually enter the number of years that is appropriate for that particular item. I've been doing that for over 20 years in Lacerte and IRS has never once had any problems with it; so that should work for you. Hi Tax Guru:. I have just finished reading the entry on your website.

Of course you can, if you want that many SUVs. I used to have a client who traded in his car every six months for a brand new one. As I've discussed numerous times, there are tax consequences to the way in which the old SUV is disposed of; selling vs. Your personal professional tax advisor can give you more specific info for your unique situation. Kerry - Thanks for having your webpage! I found it very interesting reading. Unfortunately, I'm still wondering if I'm doing things correctly.

I'm divorced, and paying child support for another years , and alimony. My wife had legal access to my 's until now that has ended in without a court order. I've remarried to a legal resident, but non-US citizen think thats relevant to S-Corp designation? We formed a C-Corp in late to deal with single family home rentals we were interested in doing. Since then, we have grown to 6 homes in the area. Someday we would like to own 10, but no more. All are mortgaged in my name, since personal mortgage rates are WAY lower than Corporate mortgages.

The C-Corp is the public interface that manages the property, accepts rental payments, pays the mortgages, reimburses travel expenses, etc. It was our plan to simply pay my wife a salary to drain that income from the company. Turbo-Tax handles rental properties well There are far too many options to consider and possible scenarios that can be used to achieve your goals for me to even begin giving you specific advice via this medium.

You will need to work directly with an experienced tax pro who can analyze your unique circumstances. I wish I could be more help; but I already have too many clients to take care of properly; so we are still trimming back on the difficult clients and are not accepting any new ones at this time. Unfortunately, we don't have anyone specific to whom we could refer you. I did recently post some names and links for some like-minded tax pros around the country.

If you haven't already done so, you should check out my tips on how to select the right tax preparer for you. You should note that geographic location should not be the main criterion for selecting a tax pro. I do want to caution you from making these kinds of decisions based on your tax and accounting fees.

That is a very short-sighted approach to this kind of thing. For example, I have plenty of clients with corporations whose annual charges are at least a thousand dollars more each year than they would be if we only had to prepare an annual I have long advised that there are what I call nuisance factors in having to keep separate books and file separate tax returns for corporations. Only you can decide how much those factors are worth in dollars and cents. As I've constantly warned, there is no one size fits all in terms of the proper entities to use. C corps do have a lot of tax savings opportunities if you work with an experienced tax professional.

Either way, if you were to use an S corp or an LLC, you would still need to keep separate books and file special income tax returns for them; so I don't see how that should be much of a factor in your decision process. Also, as I've warned for decades, if you think any tax software, whether it's the consumer oriented TurboTax or the extremely expensive professional Lacerte software that I use, can take the place of a good tax pro, you are dangerously mistaken.

Nowhere is the adage of garbage in, garbage out more appropriate than with tax software. Saving a few hundred dollars by trying to prepare your own tax returns is insane. I'm sorry to be so blunt; but these points needed to be made. I wish I could be of more assistance; and I wish you the best of luck.

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News reports have focused on tax rebates for individuals. But you may not realize that the package includes generous incentives for buying business equipment as well. Want more cash in your pocket? This is great news if you're planning to buy vehicles or equipment for your business, or even to renovate business premises. This is a special, limited-time break, so before you buy new equipment, be sure to call us. My wife is currently are using the standard mileage deduction on a Chevy we transferred into business service 4 years ago. We are expecting a large tax liability this year and next year my wife is taking off 3 months from her LCC business she uses schedule C for business income so we want to take the section depr deduction this year.

Finally, any problem with using both the standard deduction on the old vehicle for it will be taken out of service on as well as using the deduction for the new car? Is the trade still considered like kind even though I changed deprecation methods?

I know this is late in the season, but we are making the purchase, now we have to decide how to handle the tax issues. You really need to be working with a professional tax advisor on matters such as this rater than trying to stumble your way through the tax maze on your own. Just some quick answers to your main queries. The numbers you gave are a little confusing. Basically, the amount eligible for Section expensing is the excess of the new vehicle's purchase price over the trade in allowance you are given. If there is a pay-off or assumption of an old loan on the old vehicle, the calculation changes, with a lower amount being available for Section Any undepreciated cost of the older vehicle would continue to be depreciated over the life of the new vehicle.

Since you have been using the standard mileage method, you will definitely need to have a professional tax advisor do the basis calculations on the old vehicle, the like kind exchange worksheet and form and the new basis of the replacement vehicle. Like kind has to do with the vehicle for vehicle and the fact that you are going to be using different deprecation methods for the new vs old one doesn't have any bearing whatsoever. Again, you should be able to see that this can get very messy on your and you definitely need to be working with a tax pro who can see that everything is reported properly.

Click on image for full size Labels: comix , Rebates. Labels: comix , TaxCuts , TaxHikes. Courtesy of the most recent email bulletin from ACAT. If you are considering a like-kind exchange also known as a Section or Starker exchange , you need to review the IRS regulations that apply…and do it right. Like-kind exchanges allow investors to defer taxes when they dispose of property they currently own and replace it with similar property.

However, the Internal Revenue Service plans to increase audits and enforcement of these exchanges beginning mid Usually when a business or investment property is sold, the seller must pay tax on any profit. The tax varies depending on the type of income and the current tax rate. But you have to follow the IRS rules precisely, and this requires planning prior to the transaction. For example, you can exchange a single-family home for an office building, or an apartment complex for a shopping center.

Second, many like-kind exchanges will require the assistance of a qualified intermediary in order to comply with all of the requirements for a tax-free exchange. All like-kind exchanges must be reported to IRS by filing Form with your federal income tax return. Sounds confusing? But help is on the way. There are significant savings you can realize. But the best advice is to get your accountant involved at every step. This information is provided as a public service, and should not be construed as individual accounting or tax planning advice.