Executive's Tax & Management Report articles from June 2004

Executive's Tax & Management Report archives from June 2004

Prospects for 2004 tax legislation.
June 1, 2004... Will there be any significant tax legislation enacted the remainder of this year? That is a popular question these days. The answer, however, is not nearly as forthcoming as the question. Also, just in case you have been living under a rock,...

E-file now available to most corporations.(Brief Article)
June 1, 2004... By the end of the year, all corporations will be able to file their returns electronically, according to the IRS. More than 95 percent of corporations are already able to e-file, since the IRS began accepting electronic filing of corporate...

Draft instructions released for new corporate tax form.(Brief Article)
June 1, 2004... As you read in the March issue of Executive's Tax & Management Report, certain corporate taxpayers will have to file a new form with their federal tax return starting with tax years ending on or after December 31, 2004. Draft instructions are...

State tax nexus: an overview.(Business Tax)
June 1, 2004... State tax costs for most corporations have been increasing as states seek new sources of revenue to help remedy budget shortfalls. The threshold issue for evaluating state tax liabilities is to determine whether a corporation is taxable in a...

DOL touts revised OT rules as win-win.(Compensation & Benefits)(Department of Labor)
June 1, 2004... Both employers and their employees will benefit from the Department of Labor's (DOL's) final overtime regulations, according to US Secretary of Labor Elaine L. Chao. "The department's new rules guarantee and strengthen overtime rights for more...

Convertible debentures as an ISO alternative.(Compensation & Benefits)(Incentive stock options)
June 1, 2004... Incentive stock options (ISOs) offer a tax advantage over conventional stock options by taking advantage of the spread between ordinary income and capital gains tax rates. The ISO provides an employee with the chance to report as tax-favored...

Paying the price for employment tax noncompliance.(Dealing with the IRS)
June 1, 2004... Businesses that don't properly withhold federal employment taxes from employees' paychecks and pay employment taxes will face stiff penalties, says the Internal Revenue Service (IRS). Employment taxes consist of federal income tax...

Don't overlook risk management: part I.(Compensation & Benefits)
June 1, 2004... Financial planning is not "comprehensive" unless it includes risk management. You may have the best estate plan, retirement plan, or investment plan--but without a risk management plan--the other plans can all rail should some unforeseen event...

Legislators push to make R&D tax credit permanent.(Tax Legislation)
June 1, 2004... At press time, a bipartisan group of legislators was pushing the House of Representatives to extend of the research and development (R&D) tax credit before it expires this month. Earlier this spring, the Senate approved an 18-month extension of...

Would a Streamlined Sales tax system affect you?(Business Taxes)
June 1, 2004... If enacted, the Streamlined Sales & Use Tax Act would require collection of sales and use taxes by out-of-state sellers. Private companies doing business across state lines would be subject to a multistate registration requirement, including...

Two Sets of Regulations Issued Related to Foreign Tax Credit.(Executive's Briefcase)(Brief Article)
June 1, 2004... Two Sets of Regulations Issued Related to Foreign Tax Credit. The Treasury Department and the Internal Revenue Service (IRS) issued temporary and proposed regulations that address the allocation and apportionment of expenses in determining net...

Key Elements of Successful Business Alliances.(Brief Article)
June 1, 2004... If you're struggling to develop strong client-vendor alliances, then you might be interested in the nine key elements that ENSR International (www.ensr.com) says are integral to developing successful alliances with clients: 1. Mutual...

Select Group of High-Income Earners Pays the Most Individual Income Taxes.(Brief Article)
June 1, 2004... A small group of higher-income taxpayers pay most of the individual income taxes each year, according to the Treasury Department. The top 5 percent of taxpayers paid more than one-half (53.3 percent) of all individual income taxes, but reported...

Do You Operate in Crisis Mode?(Brief Article)
June 1, 2004... Seventy-one percent of executives respond to unexpected crises at least a few times each week, according to a recent survey by Accountemps (www. accountemps.com). Thirty-five percent said they "put out tires" daily. How can you manage...

Cost-Conscious Business Travelers Turn to Online Booking.(Brief Article)
June 1, 2004... Eighty-three percent of business travelers feel more obligated or as obligated as they did last year to save their company money when traveling for business, according to a recent survey by Orbitz for Business[TM], an online travel management...

Be wary of corporation sole tax scam.(Personal Taxes)
June 1, 2004... The Department of Justice and the IRS are warning taxpayers to be wary of promoters offering a tax evasion scheme that misuses "corporation sole" laws. The Justice Department recently filed civil suits in eight states to stop a nationwide...