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Free ASC 740 Training: What To Know Before Year End

Free ASC 740 Training

What do you need to do in order to be ready for ASC 740 before year end December 31st 2019? Join us in this highly targeted complimentary training webinar by leading tax reporting expert.

Learn from leading ASC 740 expert Nick Frank during this quick and targeted webinar presentation what you need to look out for on ASC740 before year end. Nick will share with you what the auditors are looking for and what you need to prepare for now!

Be ready for year end as thinking and guidance has evolved around the impacts of the Tax Cuts and Jobs Act.

ASC 740 Be Ready for Year End – What you need to know on Dec 13, 2019 10:00 AM CST STARTS!

REGISTER: COMPLIMENTARY TRAINING ON ASC 740 Dec 13, 2019

Tax Specialist For Family Office (San Francisco Bay Area)

Tax Specialist Job In San Francisco, CA

TaxConnections has recently been retained to conduct a search for a Tax Specialist for a high profile family office in the San Francisco area.  Rarely does an opening come available in this very rewarding business environment.

The Tax Specialist is responsible for performing tax compliance and planning functions as well as providing tax support for various business entities, which may include Partnerships, Limited Liability Companies and Corporate entities.  Significant emphasis will be on tax work related to Partnerships and Limited Liability Companies.  Responsible for the preparation of federal and state income tax returns and forecasts and perform various tax planning and research projects that involve a high degree of complexity.  Respond to audits and information requests from various government authorities.

 Responsibilities include:

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Senior Tax Specialist Opportunity (San Francisco Bay Area)

Senior Tax Specialist Job In San Francisco, CA

TaxConnections has recently been retained to conduct a search for a Senior Tax Specialist for a high profile family office in the San Francisco area.  Rarely is a position available in this very rewarding business environment.

The Senior Tax Specialist is responsible for performing tax compliance and planning functions as well as providing tax support for various family entities, which may include Partnerships, Limited Liability Companies and Corporate entities.  Significant emphasis will be on tax work related to Partnerships and Limited Liability Companies. Responsibilities include the preparation of federal and state income tax returns and forecasts and perform various tax planning and research projects that involve a high degree of complexity.  Respond to audits and information requests from various government authorities.

Responsibilities include the following:

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Assistant Tax Manager- Investments (San Francisco Bay Area)

Tax Manager Job - San Francisco, CA

TaxConnections has recently been retained to conduct a search for an Assistant Tax Manager for a family office investment organization considered one of the very best places to work. The management team is one of the nicest and smartest you will ever encounter. Rarely does an opening come available in this environment. It is a great opportunity to be considered by this company.

Responsible for assisting the Director of Tax, Pass-Through Entities and the Senior Tax Manager in managing the tax planning and compliance functions for multiple business lines and other investments.  Primary emphasis is on tax compliance, planning, and support for pass-through entities.  Understand and apply the current tax laws and regulations including the tax implications of investment partnership structures and real estate development and operations.  Identify and communicate issues, positions, and opportunities both orally and in writing to management.  Manage members of the tax accounting staff.

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Complimentary 2019 Automobile Depreciation Charts

2019 Automobile Depreciation Charts

According to IRS Rev. Proc. 2019, this revenue procedure provides: 1) tables of limitations on depreciation deductions for owners of passenger automobiles first placed in service by taxpayer during calendar year 2019; and (2) a table of amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2019. The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by 280F(d)(7). For purposes of this revenue procedure, the terms “passenger automobiles” includes trucks and vans.

The Depreciation Charts also include: 1) Depreciation limitations for passenger automobiles acquired before September 28, 2017, and placed in service during calendar year 2019 for which the additional first year depreciation rules apply 2) Depreciation limitations for passenger automobiles acquired after September 27, 2017 and placed in service during calendar year 2019 for which the first year depreciation rules apply 3) Dollar amount for passenger automobiles with a lease term beginning in calendar year 2019.

Request 2019 Automobile Depreciation Charts

 

ASC 740: What You Need To Do Before Year End

Free ASC 740 Webinar

What do you need to do in order to be ready for ASC 740 before year end December 31st 2019? Join us in this highly targeted complimentary training webinar by leading tax reporting expert.

Learn from leading ASC 740 expert Nick Frank during this quick and targeted webinar presentation what you need to look out for on ASC740 before year end. Nick will share with you what the auditors are looking for and what you need to prepare for now!

Be ready for year end as thinking and guidance has evolved around the impacts of the Tax Cuts and Jobs Act.

ASC 740 Be Ready for Year End – What you need to know on Dec 13, 2019 10:00 AM CST STARTS!

REGISTER: COMPLIMENTARY TRAINING ON ASC 740 Dec 13, 2019

 

Best Freebies And Discounts For You This Year

FREE STUFF RED BOX

As people spend more this time of the year, we thought it would be fun to remind you of all of all of the discounts and free items business offers you. These links are a great place to start and if you want to add to these we encourage you to add your ideas or thoughts in our comments section to share with others.

It’s Your Birthday Freebies

Free Things For Everyone

50+ Years Old Discounts

College Student Discounts

Military Discounts

TaxConnections Consumer Membership

 

A Funny Gift For You “Turkey Taxpayer Tax Form”

TURKEY JOKES

During this time of year we want to remind you how grateful we are for your continued support of TaxConnections. Please take this time to download a complimentary eBook of 250+ motivational quotes and inspirations to lift you up throughout the holidays and the coming year. The Turkey Taxpayer Form is in this complimentary eBook along with the Santa Tax Form, too.

Use this collection of quotes and fun tax forms to send to colleagues, friends and family throughout the year. Communicating with others in ways that uplift them is a gift you can give every day of the year.

Request 250+ Motivational Quotes And Inspirations eBook Here

How Taxpayers Can Make Sure Donations Are Tax Deductible

MAKE A DONATION

It’s that time of year when taxpayers are thinking about how they want to give back, and many taxpayers will want to donate to a charity that means something to them. The IRS has a tool that may help them make sure their donations are as beneficial as possible.

Tax Exempt Organization Search on IRS.gov is a tool that allows users to search for tax-exempt charities. Taxpayers can use this tool to determine if donations they make to an organization are tax-deductible charitable contributions.

Here are some things to know about the TEOS tool:

  • It provides information about an organization’s federal tax status and filings.
  • It’s mobile device friendly.
  • Donors can use it to confirm that an organization is tax-exempt and eligible to receive tax-deductible charitable contributions.
  • Users can find out if an organization had its tax-exempt status revoked.
  • Organizations are listed under the legal name or a “doing business as” name on file with the IRS.
  • The search results are sortable by name, Employee Identification Number, state, and country.
  • Users may also download entire lists of organizations eligible to receive deductible contributions, auto-revoked organizations and e-Postcard filers.

Taxpayers can also use the Interactive Tax Assistant, Can I Deduct my Charitable Contributions? to help determine if a charitable contribution is deductible.

Tax Tip 2019-165

 

10 Thanksgiving Turkey Facts To Learn For The Holidays

TaxConnections Thanksgiving

1. Although Thanksgiving is widely considered an American Holiday observed on the fourth Thursday of every November, it is also celebrated in Canada as the second Monday of every October. Other countries that celebrate Thanksgiving include Germany, Japan, Grenada, Liberia, The Netherlands and Norfolk Islands.

2.The first Thanksgiving was observed in Plymouth, Massachusetts in 1621 at the Plymouth Plantation where Pilgrims held a three day harvest feast to celebrate a successful growing season.

3. President Abe Lincoln declared Thanksgiving a National Holiday thanks to the tireless efforts of Sarah Josepha who wrote the nursery rhyme Mary Had A Little Lamb.

4. Turkeys have poor night vision but the men in my family who have hunted wild turkey for Thanksgiving dinner tell me they are very smart critters who can fly up to 55 miles per hour (farm raised domesticated turkeys cannot fly).

5. A 16-week-old turkey is called a fryer and a five to seven month old turkey is called a young roster.  A group of domesticated turkeys are called a “Rafter”. A group of wild turkeys is called a “Flock”.

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Shocking Behind The Scenes Story: Tax Professionals Advocating For Taxpayers On 3520-A IRS Penalties

Form 3520-A

Taxpayers have been privately emailing TaxConnections asking if there is anything happening behind the scenes to address the problems they have encountered with IRS Form 3250 A. Many taxpayers were kind enough to share their stories which include the following:

It all started with the letter written by member Gary Carter who wrote an article titled Foreign Trusts: IRS Penalty Notices For Late Forms 3520-A Traumatize Many Innocent Taxpayers. The purpose of my post today is to share some of the stories that have followed from this original article when we were asked to call out all tax professionals and taxpayers to sharing their experiences with us.

It is important to note to that the tax professional community works very hard to solve many matters with the IRS. This article is enlightening as there are comments here you would rarely see regarding how the system works for those who represent you. Your tax advisors are often unsung heroes and taxpayers rarely know what the real battles are behind the scenes with the tax advisors representing them. Although we are keeping everyone’s name anonymous to protect them, you are about to receive a real world inside look at the unresolved issues on Form 3520-A.

Here Are Responses We Have Received From Taxpayers

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Take A Tour Of Affordable, Easy To Use, Time-Saving Tax Calendar And Get Organized For 2020

AKORE THUMB NAIL LOGO

You are invited to a tour of the award winning tax calendar that keeps you organized all year around! Thus easy to use, high quality, low cost tax calendar is tailor made to manage all your corporate tax or clients tax returns.

It tracks all taxes and tax deadlines and effectively manages any tax return, tax due dates, filing extensions, amended tax returns, notices and important dates and payments.

The TaxCalendar tracks all federal, state international, property, sales and use, excise, franchise, estimated tax payments, quarterly and annual tax payments, business licenses, HST/GST, value added tax and annual reports.

The TaxCalendar has a customizable electronic filing cabinet, built in document management system, customizable fields, manages multiple tax years, manages multiple clients, tracks all tax obligations and due dates, mass filing, editing and roll over functionality, reminders and alerts on all tax returns, reports tax department and staff progress, rollover data from prior years, tracks notices for companies, workflow management tool and sets and schedules staff tasks.

Request TaxCalendar Tour Today