Final and Proposed Regs on GILTI-Related Matters
Final regulations address the global intangible low-taxed income
(GILTI) provisions of Code Sec. 951A. The final regulations
retain the basic approach and structure of the proposed regulations
FAQ: When does a gift require a gift tax return?
If you've made, or are planning to make, a big gift before the end
of 2009, you may be wondering what your gift tax liability, if any,
may be. You may have to file a federal tax return even if you do
FAQ: What kinds of moving expenses are deductible?
Only "qualified moving expenses" under the tax law are generally
deductible. Qualified moving expenses are incurred to move the
taxpayer, members of the taxpayer's household, and their personal
FAQ: Must the S corp election be made each year?
The small business corporation (S corp) is one of the most popular
business entities today, offering its shareholders the flow-through
tax treatment of a partnership and the limited liability of a
How Do I? ... Keep a log for automobile expenses
If you use your car for business purposes, you may have learned
that keeping track and properly logging the variety of expenses you
incur for tax purposes is not always easy. Practically speaking,
How Do I? Compute the Kiddie Tax for 2009
Under the so-called "kiddie tax," a minor under the age of 19 (or a
student under the age of 24) who has certain unearned income
exceeding a threshold amount will have the excess taxed at his or
FAQ: Is foreign business travel deductible?
A taxpayer's expenses incurred due to travel outside of the United
States for business activities are deductible, but under a stricter
set of rules than domestic travel. Foreign travel expenses may
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