The recently-enacted 2010 Small Business Jobs Act includes a wide-ranging assortment of tax breaks and incentives for small business, paid for with various revenue raisers. Click here to read a brief overview of some of the tax changes in the new law.
Read more →With the speculation of rising long term capital gains tax rates and the aging of the baby boomer population, more business owners are exploring the tremendous benefits inherent with an ESOP. A properly structured ESOP transaction can bring unparalleled benefits to business owners, their companies, and their employees. An ESOP is a tax-qualified employee...
Read more →In a closely watched new case, an estate prevailed in reducing the capital gains tax due on its interest in a corporation. In Tax Court, expert witnesses for the estate and the IRS took different approaches to assessing the fair market value of the corporation’s interest. The court looked at all the calculations and...
Read more →Income tax rates, which are at a relatively low level, are expected to increase, with those with the highest income taking the brunt of the change. If so, wealthy taxpayers should consider possibly shifting some of their income to parents, children or other family members who are in a lower tax bracket. Affluent people can do...
Read more →Congratulations E. Cohen and Company, CPAs! We made the 2009 Inc. 5000 list of the fastest-growing private companies in America. This achievement puts ECC in the elite group which has, over the years, included companies such as Microsoft, Timberland, Intuit, Jamba Juice, Oracle, and UnderArmour. In fact, many of today's most successful U.S. companies...
Read more →On July 30, 2010, the House voted down a proposal that would have repealed new Form 1099 reporting requirements. Under the new requirements, starting Jan. 1, 2012, businesses will face the challenge of preparing and issuing a Form 1099 to every vendor to which they made payments totaling $600 or more during the calendar...
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