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Tax Code

IRC 338(h)(10), A Hybrid Business Purchase Option

Jun 15, 2016

Generally there are two methods of purchasing a corporation, buying the stock directly, or buying all the assets of the corporation.  When buying the stock directly, the selling owner recognizes capital gain on the sale, and the buyer steps directly into the shoes of the seller with minimal administrative burden.  However, any premium paid by […]

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Tax Incentives Can Save Exporters Cash

Jul 26, 2013

Tax Incentives Can Save Exporters Cash – by Howard Flitt Many CPAs and owners of businesses that export are missing the boat on one of the most powerful tax incentives available for exporters. The IC-DISC, a little known and underutilized tax incentive, holds the key to providing owners significant tax savings on the profits from export sales. Exporters have only one alternate tax savings […]

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Overview of the tax provisions in the 2012 American Taxpayer Relief Act

Jan 7, 2013

Dear Client, The recently enacted 2012 American Taxpayer Relief Act is a sweeping tax package that includes, among many other items, permanent extension of the Bush-era tax cuts for most taxpayers, revised tax rates on ordinary and capital gain income for high-income individuals, modification of the estate tax, permanent relief from the AMT for individual […]

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News from the Massachusetts Society of Certified Public Accountants

Mar 31, 2012

We recently received the following news from the Massachusetts Society of Certified Public Accountants; “The Society received word from some members whose clients have received notices from the IRS regarding income not properly reported. This income is linked to Roth IRA conversions from 2010. These notices were sent despite the fact that the income had […]

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“It’s great that Lee’s willing to speak up and tell us we ought to do things different. Our previous CPA firm didn’t do that. It’s much better to have someone more engaged....
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Bert Tighe
TI-Sales, Inc.