Tax Guidance & Preparation Archives - Page 5 of 25 - John R. Dundon II, Enrolled Agent
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Tax Guidance & Preparation

Tax Implication of Publicly Traded Partnerships: Why Purveyors or the US Tax Code Snarl at Investment Brokers. My friend Roger Botterbusch recently put together a most excellent presentation on the tax implications of owning Publicly Traded Partnerships (PTPs), also commonly referred to as Master Limited Partnerships (MLPs)....

With my family snugly content midst a long holiday season I felt compelled to pen some thoughts regarding the ubiquitous US Tax Code and all its myriad of seemingly scary changes looming around the proverbial corner. This post lists 10 tax matters to be aware...

If you have been impacted by a disaster in your area like many of my friends most recently here in Colorado due to flooding as defined by FEMA and identified by our President causing you to be unable to meet your tax obligations the IRS may...

Unless you elect different treatment, for shareholder income tax purposes S corporation distributions are applied in the following order: 1. To reduce the Accumulated Adjustment Account (AAA) determined without regard to any net negative adjustment for the tax year but not below zero. According to IRC 1368 if...

If you have ever been a victim of IRS lien or levy action you know first hand that it can be unilaterally devastating on many levels and take literally years if not decades to financially overcome. To add insult to injury it gets all the...

The IRS has issued final regulations affecting all taxpayers that acquire, produce, or improve tangible property. The final regulations define materials, supplies, de minimus, safe harbor and related repairs as well as the election to capitalize certain materials and supplies among other items. Particularly relevant to my...

US citizens are required to carry minimum essential health insurance coverage beginning January 1st 2014. This is also commonly referred to as the 'individual mandate' and some people are exempt from this individual mandate including: Members of recognized religious sects that are exempt from self-employment...

The IRS released final regulations regarding minimum essential coverage maintenance required under the Affordable Care Act for individual taxpayers under IRC 5000A governing the shared responsibility payment. The document is 75 pages long and I'll be reviewing it over the next couple of days but I've pulled...

The IRS has over the last week or so started sending Letter 5036 to small businesses questioning the possible under reporting of income. The letter looks intimidating as it's header states "Notification of Possible Income Under reporting" and starts with "Your gross receipts may be under reported." Rest...