Time for post-filing season checkup
Your 2011 tax return has been filed, or you have properly filed for
an extension. In either case, now it’s time to start thinking
about important post-filing season activities to save you tax in...
Countdown to Supreme Court’s health care decision
After three days of oral arguments in March, the Supreme Court is
deciding the fate of the Pension Protection and Affordable Care Act
(PPACA) and its companion law, the Health Care and Education
Recon...
Congress eyes retirement savings plans in push toward tax reform
Proposals to reform retirement savings plans were highlighted
during an April 2012 hearing by the House Ways and Means Committee.
Lawmakers were advised by many experts to move slowly on
making ...
How do I: Compute Code Sec. 1231 gains and losses?
Code Sec. 1231 applies to gains and losses from property used in
the trade or business and from involuntary conversions. Normally,
you have to determine whether property is a capital asset or is
ordin...
FAQ: What is a family partnership?
The family partnership is a common device for reducing the overall
tax burden of family members. Family members who contribute
property or services to a partnership in exchange for partnership
interes...
May 2012 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important tax reporting and filing data for
individuals...
IRS instructs auditors on economic substance doctrine
A transaction may comply with a literal reading of the Tax Code but
result in unreasonable tax consequences that are not intended by
the tax laws. To combat these transactions, the IRS has used for
ma...
New broker-reporting rules: burden to brokers a boon to taxpayers?
As a result of recent changes in the law, many brokerage customers
will begin seeing something new when they gaze upon their 1099-B
forms early next year. In the past, of course, brokers were
re...
IRS offers fixes to new 100 percent bonus depreciation
Taxpayers that place new business assets other than real property
in service through 2012 may claim a "bonus" depreciation deduction.
Although the bonus depreciation deduction is generally equal to
50...
Next year's tax return starts with good recordkeeping
As the 2011 tax filing season comes to an end, now is a good time
to begin thinking about next year's returns. While it may seem
early to be preparing for 2012, taking some time now to review your
rec...
FAQ: What is a limited liability company?
A limited liability company (LLC) is a business entity created
under state law. Every state and the District of Columbia have LLC
statutes that govern the formation and operation of LLCs....
How Do I? Write Off Bad Business Debts
A business with a significant amount of receivables should evaluate
whether some of them may be written off as business bad debts. A
business taxpayer may deduct business bad debts if the receivable
b...
Estimated tax: Getting it right
Estimated tax is used to pay tax on income that is not subject to
withholding or if not enough tax is being withheld from a person's
salary, pension or other income. Income not subject to withho...
IRS issues 2011 vehicle depreciation dollar limits
The IRS has issued the limitations on depreciation deductions for
owners of passenger automobiles, trucks and vans first "placed in
service" (i.e. used) during the 2011 calendar year. The IRS al...
Tax law changes for 2011 impact individuals and businesses
Legislation enacted during the past few years, including the Small
Business Jobs Act of 2010 and the more recently enacted Tax Relief,
Unemployment Insurance Reauthorization, and Job Creation Act of
2...
How Do I ... Convert a Traditional IRA to a Roth IRA?
People are buzzing about Roth Individual Retirement Accounts
(IRAs). Unlike traditional IRAs, "qualified" distributions from a
Roth IRA are tax-free, provided they are held for five years and
are made...
Newsletters
Welcome to Crouch CPA, PLC
At Crouch CPA, our relationship to our clients extends beyond merely offering standard services for their tax and accounting needs. We view every client relationship like a partnership, and truly believe that our success is a result of your success. We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.
