United States

The Tax Adviser’s April 2015 Tax Clinic articles

The following tax insights originally appeared in The Tax Adviser's April 2015 Tax Clinic column. Authored by a range of RSM tax professionals, these 12 articles focus on current tax issues and opportunities that may impact business and individual taxpayers.

CORPORATIONS AND SHAREHOLDERS

INSIGHT ARTICLE

Incorporating a partnership prior to an ESOP sale: What you need to know

Taxpayers should understand the benefits of incorporating prior to a sale to an ESOP, as well as the risks inherent in such a transaction.

  • Nick Gruidl, Anne Bushman
  • |
  • April 29, 2015

CREDITS AGAINST TAX

INSIGHT ARTICLE

Claiming the residential energy credit for geothermal heat pump property

An in-depth understanding of the rules and regulations associated with the tax credit can help ensure its benefit is realized.

  • Tom Windram, Trina Pinneau
  • |
  • April 29, 2015

DEPRECIATION

INSIGHT ARTICLE

Cost segregation studies and the impact of tangible property regulations

Final repair regulations make a cost segregation study more important than ever.

  • Christian Wood
  • |
  • April 29, 2015

INSIGHT ARTICLE

GAAs are a valuable planning option for tangible assets

Understand the risks and benefits of adopting a general asset account for the treatment of tangible assets.

  • Christian Wood, Justin Silva
  • |
  • April 29, 2015

EMPLOYEE BENEFITS AND PENSIONS

INSIGHT ARTICLE

IRS issues additional PPACA guidance on identifying full-time employees

The guidelines for determining ACA employment status when an employer changes the measurement method or period are clarified in Notice 2014-49.

  • Bill O’Malley
  • |
  • April 29, 2015

ESTATES, TRUSTS AND GIFTS

INSIGHT ARTICLE

Strategies for minimizing the impact of income in respect of a decedent

Tax planning offers opportunities for minimizing issues caused by income in respect of decedent.

  • Audrey Young
  • |
  • April 29, 2015

GAINS AND LOSSES

INSIGHT ARTICLE

Personal goodwill: Alive and well indeed!

Recent court decisions support the existence and sale of personal goodwill as an asset separate from corporate-owned goodwill.

  • Nick Gruidl, Amy Kasden, Peter Enyart
  • |
  • April 30, 2015

PARTNERS AND PARTNERSHIPS

INSIGHT ARTICLE

Selling partnerships that own CFCs: A potential trap for the unwary

The overlap of technical partnership rules with international tax concepts may create exposure when selling an interest in a partnership owning a CFC.

  • Jeff Becker
  • |
  • April 30, 2015

PRACTICE AND PROCEDURES

INSIGHT ARTICLE

Understanding form 1099-K letters and how to quickly respond

Taxpayers that sell products or services online need to be aware of IRS notice letters so they may quickly respond to the IRS when necessary.

  • Bob Adams, Peter Enyart
  • |
  • April 30, 2015

PROCEDURE AND ADMINISTRATION

INSIGHT ARTICLE

New IRS Appeals procedures promote independence and improve efficiency

New AJAC procedures promote efficiency, quicker settlements and IRS Appeals’ independence.

  • Patti Burquest
  • |
  • April 30, 2015

Real Estate

INSIGHT ARTICLE

FIRPTA rules impact U.S. real estate transactions

Purchasers of U.S. real property interests from foreign sellers may be required to withhold tax under FIRPTA rules.

  • Jonathan Hobbs
  • |
  • May 01, 2015

State and local taxes

INSIGHT ARTICLE

Indiana: Where market-based sourcing and income-producing activity collide

Actions taken by the Indiana Department of Revenue blur the lines when apportioning services receipts, creating potential traps and opportunities.

  • Brian Kirkell, Sherri York
  • |
  • May 01, 2015

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