Monthly Archives: July 2012

Requesting an Original Determination Letter from the IRS

Posted on July 20, 2012

The determination letter is a very important document that should be on file with your other plan documents. In order to receive a determination letter, the plan sponsor will need to request that the IRS examine the plan documents. If … Continue reading →

Posted in News & Updates | Tagged 401K Plans, determination letter, Employee Benefit Plan, IRS, plan sponsor | Leave a comment

Donating Appreciated Stock or Real Estate

Posted on July 17, 2012

Donating appreciated stock or real estate held for more than 12 months may make financial sense because it offers a two-fold tax savings: You can receive a tax deduction for the full fair market value of the stock or real … Continue reading →

Posted in News & Updates | Tagged capital gains, Dallas Tax CPA, donating appreciated stock, donating real estate, income tax, Taxes | Leave a comment

Do You Have Leased Employees?

Posted on July 16, 2012

Recently, the Employee Plans Compliance Unit (EPCU) completed a study indicating how benefit plan’s are treating leased employees when it comes to qualified plans. The IRS views a leased employee generally as an employee meeting each of the following criteria: … Continue reading →

Posted in News & Updates | Tagged common law employees, Employee Plan Benefit, Employee Plans Compliance Unit, EPCU, Form 5500, Leased Employees | Leave a comment

Today’s Favorable Tax Laws May Be Expiring

Posted on July 12, 2012

There are numerous favorable Bush-era tax laws that are scheduled to expire at the close of 2012. Without an extension, the following laws will change: Top marginal tax rate for ordinary income will increase from 35% to 39.6%. Top tax … Continue reading →

Posted in News & Updates | Tagged 2013 tax law changes, Bush era taxes, business taxes, estate tax, gift tax, individual, long term capital gains, medicare tax increase, transfer wealth | Leave a comment

New Filing Requirements for Texas Franchise Reports

Posted on July 10, 2012

Beginning with the 2011 Texas Franchise report year, there is a new filing requirement for the reporting entity of a combined group if that entity had previously preserved a temporary credit for business loss carry forward for itself and/or one … Continue reading →

Posted in News & Updates | Tagged combined group, common owner, State Comptroller's office, Texas Franchise Report, TX Franchise, Webfile | Leave a comment

Tax Benefits of Retail Dealership Inventory Methods

Posted on July 5, 2012

The inventory method chosen by automotive, RV, motorcycle and boat dealerships can have a dramatic effect on the bottom line. One thing that has remained constant in the ever-changing economic environment is that costs are increasing. Retail Dealership owners should … Continue reading →

Posted in News & Updates | Tagged auto dealership, boat dealership, inventory, Last In First Out, LIFO, Motorcycle dealership, RV dealerships | Leave a comment

Is Your 3rd Party Administrator Fulfilling Your Plan’s Needs?

Posted on July 2, 2012

Are you unsure if your Third Party Administrator (TPA) is providing the best services possible? There are many factors to consider when evaluating the quality of your TPA.  For instance, are you notified by your TPA of ERISA (Employee Retirement … Continue reading →

Posted in News & Updates | Tagged 401k Employee Benefit Plan, 401k plan audit firm, dol, ERISA, Form 5500, TPA | Leave a comment