• Technical Questions - FAQ
  

• Estate and Trusts
• Q:  Tax Basis of inherited and gifted property  - Is it true that if I gift low basis assets, like stock I bought in 1960, to a terminally ill person and he or she then Wills the items back to me, that such inherited property that I receive will be granted a tax cost basis equal to the fair market value on the date of death and that upon sale of that property at that price I will not have any capital gain taxes to pay? 
• Q:  Gift Tax Planning Techniques  - Why is there an annual gift tax exclusion?  Why does the government impose a gift tax?  Does a gift of any interest in property qualify for the annual exclusion?  What type of gifts are excluded from gift tax?
• Q:  Self Employment Taxes on Executors, Trustees, and Directors  - Are Self Employment Taxes (Social Security Taxes) Assessable on Executors, Trustees, or Directors Fees?
• Q:  Trust Fund Designation Rules  - Who and when are employees or company officials responsible to payroll tax liabilities?  
• Q:  Gifts to Spouse - Qualified Terminal Interest Property QTIP  - What is a QTIP, how does it work, what are the essential elements of such as trust?
• Q:  What is the most dangerous and common estate tax planning trap? 
  
• Q:  Cure failure to make timely reverse QTIP election  - If a reverse QTIP election was not made on form 706 to absorb the unused portion of the $1,000,000 Generation Skipping Tax exemption, can this problem be cured after the death of the second to die (death of surviving spouse)? 
  
• Q:  Reimbursement of federal estate tax by independent trustees  - Does an estate have a right to be reimbursed for Federal Estate Taxes attributable to the portion of the gross taxable estate from trust sources (QTIP Trust for example) for which the executor can not control disbursement?

• State of New Hampshire
• Q:  Trucking nexus  -  Do out of state trucking activities cause a business to be subject to the income taxes in Mass?
  
• Q:  Creating a New Hampshire Limited Liability Company  - What are the advantages and disadvantages of LLCs and how would one set up a NH LLC for their business?
• Q:  State of New Hampshire Education Property Tax  - What are the key provisions to the April 29, 1999 NH Bill enacting for the first time a State wide property tax assessment? (Notation, tax rate has since been reduced.)
• Q:  State of New Hampshire Tax On Single Owner LLCs  - What is NH's business income tax on small businesses?
  
• Q:  Deficit Capital Accounts in General Partnerships May Represent Liabilities to Other Partners  - Is a deficit capital account always a liability to other partners?
  
• Q:  Wayfair U.S. Supreme Court Changes the Sales Tax Landscape for Some Businesses  - Why certain businesses selling out of state will need to withhold sales taxes?

• Generally Accepted Accounting Principles (GAAP)
• Q:  Sarbanes-Oxley Act of 2002 - Searchable and bookmarked pdf document of Public Law 107-204, July 30, 2002.
  
• Q:  Topic: FAS 109, Accounting for income taxes in consolidation  - What are the consolidated deferred income tax assets and liabilities for the a theoretical balance sheet?
• Q:   FAS 124 - Are Realized Gains Still Applicable to Not-For-Profit Entities in a FMV Accounting Model?

• General Taxation
• Q:  TCJA Method of Accounting Changes to Section 263A and Inventory  - With the enactment of the Tax Cuts and Jobs Act (TCJA), taxpayers were provided with an abundance of tax saving opportunities for their businesses. This one comes with the bonus of simplification too, a rarity in taxation.
• Q:  How did you prepare my tax return?
• Q:  Issues relating to Taxation of Subchapter T Cooperatives  - What are some considerations relating to organizing an entity as a cooperative under Subchapter T of the Internal Revenue Code of 1986?
• Q:  Sec. 125 Cafeteria Plans  - What is a Cafeteria Plan?  What IRS or DOL filings are required?
• Q:  Reimbursing Employees for Medical Expenses  - What are the guidelines for reimbursing employees for medical expenses paid?
• Q:  HIRE ACT  - What are the key small business provisions of the Hire Incentives To Restore Employment Act?
• Q:  Home Office Deduction  - Who qualifies for this deduction?
• Q:  Rental Activity - When is a rental not a rental activity?
• Q:  Real Estate Professional - Tracking Smart Phone Software - How to create a log of real estate business activity?
  
• Q:  Assignment of Executed Purchase and Sales Agreement to Charity  - Can one escape income tax by assigning an executed purchases and sales contact to charity?

• Forms 1099
• Q:  Form 1099 Harassment  - Can issuing a Form 1099 under false pretenses come back to haunt you?
• Q:  Real Estate Professionals  - Who is considered as a real estate professional? What are the penalties for failure to file Form 1099?
• Q:  Nanny Tax  - What is the Nanny tax? Who should not issue Forms 1099 to health care workers?
  

• Other Matters
• Q:  Record Retention  - Records should be preserved for only as long as they serve a useful purpose or until all legal requirements are met.
• Q:  Personal Goodwill  - In marital dissolutions, how does the valuation of a privately held company and the determination of alimony result in double benefits to the so called non-monied spouse?
• Q:  IRS Employees - Termination Act and Omissions  - What 10 acts or omissions result in the termination of IRS employee?
• Q:  Dual State Residency and Sale of Principal Residence Home  - Can married taxpayers qualify for the exclusion from gross income of the gain from the sale of a principal residence, when one of the taxpayers is a resident of one state and the spouse is a resident of another state?
• Q:  Employer Education Assistance Program  - What are the key attributes to such plans?
  
• Q:  Covid 19 - 90 Day Deferral of Income Tax Payments Due April 15, 2020  - What payments are included?
• Q:  Covid 19 - Families First Coronavirus Response Act  What actions to should be taken by employers? 
  
• Q:  Covid 19 - US Federal Reserve Main Street Lending Program (Including Small Businesses)  - What are the terms for this new Covid 19 Relief funding program? 
  
• Q:  Covid Related Tax Relief Act Of 2020 For Businesses  - What are the key highlights?
  
• Q:  Covid Related Tax Relief Act Of 2020 For Individuals  - What are the key highlights?


• Renewable Energy
• Q:  PV Arrays - Taxation of Solar Panels and Connecting Infrastructure  - Where does taxation of a building's component end and utility taxation begin?
  

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