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GAO: The IRS Needs to Ramp Up Audits of Large Partnerships
(TaxProf Blog) - The number of large partnerships has more than tripled to 10,099 from tax year 2002 to 2011. Almost two-thirds of large partnerships had more than 1,000 direct and indirect partners, had six or more tiers and/or self reported being in the finance and insurance sector, with many being investment funds.
Professional C Corp Denied Deduction For Uncashed Salary Check To Owner
(Forbes) - Vanney Associates was a C Corporation. It is also a professional corporation (architecture), so profits are taxed at the maximum corporate rate from dollar one. As is typical for such corporations, any profits remaining would be paid out to the shareholder as a sort of bonus at year end.
Majority of House of Representatives Urge Leadership to Preserve Cash Method of Accounting for Tax Purposes
(NJSCPA) - A bipartisan majority of the U.S. House of Representatives – 233 members – have signed a letter urging the House leadership to preserve the cash method of accounting for tax purposes, writing that proposals requiring a transition to the accrual method “will have a severely detrimental impact on thousands of businesses in our districts.”
How do You Set Up Advanced Google Search Criteria?
(How-to-Geek) - It is easy to get more results than you need or want when conducting an online search, but what do you do (or use) if you really want to limit the parameters of the search? Today’s SuperUser Q&A post has the answers to a confused reader’s request for help.
Small Business, Sans Office: How Virtual Office Technology Changes Everything
(PC World) - We’re in the middle of a sea of change that’s upending every aspect of computing as we know it. One of the biggest trends driving this change is the rise of the virtual office – the ability to relocate our workspaces from central offices to just about anywhere in the world.
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