Executive's Tax & Management Report articles from January 2005

Executive's Tax & Management Report archives from January 2005

Inflation adjustments made to tax-related limits.
January 1, 2005... The 2005 income brackets and tax-related limitations, which have been adjusted for inflation, were recently released by the IRS [Rev. Proc. 2004-71, IRB 2004-50, 1]. KEY CHANGES FOR 2005 > Effective for tax, years beginning in 2005,...

Jobs act included new disclosure requirements.(Illustration)
January 1, 2005... In addition to numerous tax cuts, the recently enacted American Jobs Creation of 2004 [P.L. 108-357] also includes revised requirements for the disclosure of reportable transactions. In a notice and four revenue procedures, the IRS provided...

The benefits of cost segregation studies.(Business Taxes)
January 1, 2005... Although tax depreciation is not generally considered an exciting topic, how it is computed can have a significant impact on a company's finances. Using cost segregation to accelerate depreciation deductions can defer income taxes and improve...

What you should know about retirement savings plans.(Retirement Planning)
January 1, 2005... A key component to a successful financial plan is determining how much you need to save to meet your retirement goals. This review also includes determining the most tax-efficient retirement savings plans that are available to you. Your savings...

Business mileage rate climbs three cents.(Executive's Briefcase)(Brief Article)
January 1, 2005... The IRS recently released the optional standard mileage rates for 2005 in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes. The rates pertain to the use of a car, vans,...

Manufacturers upbeat about their own prospects.(Executive's Briefcase)(Brief Article)
January 1, 2005... Industrial manufacturing executives are forecasting a continued rise in their own company revenues and cash flow, positioning themselves for more and larger new investments and an increase in new hiring over the next 12 months. But they are...

Workers satisfied with vacation time.(Executive's Briefcase)
January 1, 2005... A recent survey revealed some good news for executives who value employee satisfaction. According to a new survey from OfficeTeam (www.officeteam.com), the majority of workers are satisfied with the amount of vacation time their employers...

2005 filing and deposit deadlines released.(Tax Procedures)(Calendar)
January 1, 2005... Every year, the IRS releases a schedule of federal tax filing and deposit deadlines for the upcoming year. On the next four pages, you'll find the schedule for the first half of 2005. The dates listed reflect adjustments for federal legal...

Federal tax action calendar for January-June 2005.(Calendar)
January 1, 2005... Monday, January 3 Earned income credit. Stop advance payments or me earned income credit for any employee who has not given you a new Form W-5 for 2005. FICA and withheld income tax. Semi-weekly depositors deposit the tax on wages paid...

Federal legal holidays in 2005.(Brief Article)(Calendar)
January 1, 2005... Monday, January 17--Martin Luther King, Jr., Day Thursday, January 20--Inauguration Day Monday, February 21--Washington's Birthday Monday, May 30--Memorial Day Monday, July 4--Independence Day Monday, September 5--Labor Day Monday, October...

IRS pushing e-filing for businesses in 2005.(Dealing with the IRS)(Tax Talk Today[R])
January 1, 2005... Last year, the IRS processed more than 50,000 electronic returns, and it's taking steps to make the process even more efficient and cost-effective for businesses and tax professionals in the new year, according to participants in a recent...