State and Local Tax (SALT) | | Sep 12, 2013
The enactment of the Small Business Job protection Act of 1996 expanded the differences in grantor trust rules for foreign and domestic trusts. At the same time, it narrowed the distributable net income (DNI) computation rules for foreign trusts. These changes leave little room for interpretation-with one major exception. Professionals are still debating if a foreign trust can carry over a net capital loss for the current year.
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Don't miss reading Glenn L. Friedman's most recent article, "6 Keys to Career Growth and Success for Young Accounting Professionals". Through Glenn's insights and observations, this article discusses different ways to achieve your goals and strive for a successful career through hard work and passion.
Most nonprofits operate under a tight budget with a lean staff so they can maximize the amount of funds and resources allocated to their mission. The goal is to reduce general and administrative costs to make a bigger difference in the community they serve.
Glenn L. Friedman's most recent article, "Hard Work, Communication, and Passion Are Essential to Closing the Skills Gap in Accounting" gives valuable insight into obstacles the accounting industry has faced and what you need to know to change them.
The 65-Day Rule: Section 663(b) of the U.S. tax code allows fiduciaries of estates and complex trusts to elect into what is informally known as the “65-day election.”
On December 2, 2022, the IRS released a revised draft of Schedule K-2 & K-3 (Form 1065) instructions updating their previous release from October 26.
A medida que el Metaverso evoluciona, también lo hacen la Contabilidad Distribuida (DLT), Blockchain, los NFTs y los Smart Contracts, los cuales impulsan la exposición del comercio de bienes y servicios en el Metaverso y promueven su integración en la economía del mundo “real”.
