Industry Updates & Tips to Get You Through The Tax Season

With all the stress of tax season and pressures of bailing out companies every day, we are here to help you stay calm with a little happy hour!

Procrastinator Shot

This shooter was designed with the tax season procrastinators in mind and makes a great celebratory finish to another successful filing, no matter the outcome.

Lucky Deduction

True, it is only a splash, but this drink serves as a reminder that even in the smallest amounts we need to remember quality.

Income Tax Cocktail

Accountants who finished & have made it through one more tax season, sit back and enjoy this classic cocktail to celebrate your accomplishment.

Finally, if you are feeling overwhelmed, you can turn to your buddies at the IRS. Options include filing an extension or setting up an installment plan for tax payment.[hr]

IRS Will Issue Transition Guidance for Dispositions Under Proposed Repair Regs

Published by CCH Group
Scott Mackay expects the IRS to publish Rev. Proc. 2014-17 in the next two weeks, to provide automatic consent to make changes under the reproposed repair regulations on dispositions of tangible property. He indicated that the latest revenue procedure may be more complex than Rev Proc. 2014-16. However, this will provide some relief by giving taxpayers an opportunity to revoke general asset account elections that they made under the temporary repair regulations. Continue Reading [hr]

Q&A RE: 263(a) Tangible Property Regulations & Cost Segregation

Tangible Property Regs Small Taxpayer Safe Harbor Election
Can we confirm whether the tangible property regs' small taxpayer safe harbor election mentions anywhere whether, for purposes of the gross receipts test, one must consider “controlled group” or attribution rules under section 318?
View this Answer

Cost Segregation & the Treatment of Property
View this Session

Filing Late Elections for Dispositions
If we make an election/statement in 2013 and discover in 2015 that a retirement of asset from 2008 should be made, is the loss taken in 2015 or would we file an amended 2013 return to claim the loss?
View this Answer [hr]

Expanding Service Offerings, Increasing Client Retention & Competitive Advantage

ETS strives to create a reciprocal strategic partnership with firms across the country for expanding service offerings, increasing client retention and competitive advantage, as well as driving new opportunities to your door! This is about a reciprocal relationship between ETS and your firm! Download our due diligence piece to learn more about how ETS can bring value added services to your firm. Continue Reading [hr]

5 Apps Every CPA Should Have on their Smart Device

For all but the most tech-averse souls, smart phones and tablets have quickly become an integral part of our daily lives. In fact, our mobile devices have become so useful that many of us can now make it through much of the day without sitting down in front of a traditional computer. Much of the credit for that luxury goes to the quality of the applications that now run on these mobile devices. Continue Reading [hr]

Roosevelt Rockets Reading Buddy Program

On February 7th, 2014, over forty volunteers led by members of the ETS Staff read one-on-one with first graders at Roosevelt Elementary School in West Palm Beach as part of the monthly “Roosevelt Rockets Reading Buddies” Initaitive. This first Friday initiative, where adult volunteers donate their lunch hour to these deserving children, began a year ago with only four volunteers and has quickly expanded. Continue Reading [hr]

Upcoming Webinar! Understanding the Final Treasury Regulations Governing Tax Treatment of Tangible Property

Thursday March 26, 2014 9:00AM-10:00AM EDT

This presentation is designed to give clarity and awareness to the preferred method of depreciation and capitalization of repair & maintenance items, a property's building systems and the proper handling of assets after renovation or retrofit. The objectives are to ensure that attendees clearly understand available incentives, can identify applicable situations and have clear examples for how their clients can benefit from the final tangible property regs.

Register Here

To schedule a CPE Lunch & Learn on 263(a), contact us here today!

Recent Posts

IRS Guidance on I.R.C. § 41 Research Credit Refund Claims: What You Need to Know

Navigating the complexities of tax credits can be daunting, especially when it comes to the I.R.C. § 41 research credit. This credit, designed to incentivize research and development (R&D) activities, offers significant financial benefits but requires meticulous documentation and adherence to specific guidelines. Recent guidance from the IRS Office of Chief Counsel, outlined in Memorandum

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Can Cost Segregation Be Used as a Planning Tool in Real Estate Investments?

In the world of real estate investing, savvy investors are always on the lookout for strategies to maximize profitability and streamline financial management. One such strategy that has gained significant traction is cost segregation. But can cost segregation truly serve as a planning tool, beyond its immediate tax benefits? The answer is a resounding yes.

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