CTP

NOVEMBER 15, 2023

The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! That’s why tax planning is gaining in popularity. Some obvious reasons are mistakes or oversights on their tax returns. Have you received specific training in tax planning?

tax planning 111

tax planning Tax tax preparation tax return 111

ThomsonReuters

DECEMBER 11, 2023

The purpose of this series is to help readers gain a better understanding of e-invoicing and CTC, and their impact on corporate tax teams. Notably, B2B and B2C transactions follow different CTC models, where B2B is subject to pre-clearance, while B2C follows the real-time reporting approach.

B2C 59

B2C B2B Start-ups Tax 59

CTP

JUNE 10, 2022

If an S corporation has $100 in the bank and that $100 is transferred to the new business owner, then $100 of the sales price is going to be allocated to cash, which is not subject to any special taxation rules. An S corporation might have accounts receivable, notes receivable, or tax receivable.

Sales 52

Sales Tax income tax tax return 52

CTP

OCTOBER 31, 2022

Federal or state built-in gains tax at the S corporation level. When a C corporation is being converted to an S corporation and the C corporation uses the cash method of accounting for receivables, you will face a tax on any assets that have increased in value over time.

Tax 52

Tax Non-Profits Massachusetts Sales 52