The Competitive Edge, Volume 2 Issue 1 | February 2012
The IRS has issued new regulations for determining whether amounts paid for property may be currently deducted as business expenses or must be capitalized. In general, a taxpayer must capitalize…
The Competitive Edge, Volume 2 Issue 1 | February 2012
Standard Mileage Rates—The IRS recently announced the standard mileage rates that taxpayers may use in 2012. The flat rate for business driving is 55.5 cents per business mile (the same…
The Competitive Edge, Volume 2 Issue 1 | February 2012
With most of the country experiencing a depressed real estate market, you may find it difficult to sell a business building or apartment house. To make matters worse, a sale…
The Competitive Edge, Volume 2 Issue 1 | February 2012
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 provides a special federal estate-tax break for married couples. Under the recently enacted legislation, the estate-tax exemption may…
The Competitive Edge, Volume 2 Issue 1 | February 2012
The alternative minimum tax (AMT) could be out to get you. This stealth tax, originally aimed at only the highest echelon of taxpayers, is expected to apply to 4 million…
