- When a taxpayer sells an asset, generally, a gain is recognized to the extent the proceeds from the sale exceed the taxpayer’s basis in the asset. While in some circumstances this is an easy rule to implement, determining the proper basis of the asset sold is often difficult. The ruling in David C. Costello, et ux. v. Commissioner clarified the process.
- Corporations considering spin-offs to form REITs and operating REITs should be familiar with important developments resulting from the recently passed tax extenders legislation.
- Jay Walters and John Gustavson of US Venture talk about the benefits of working with Baker Tilly.
- The United States is host to 1.1 million not-for-profit organizations. These organizations, many of which do not maintain strong internal control processes, are ripe for fraud and embezzlement.
- Succession planning is a critical component of any size organization, and not-for-profit organizations, with their unique circumstances, mission focus, and volunteer dependency, need to be sure they are mapped for success in their key leadership roles.
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