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Expert Opinion

Some Recent Tax Developments

Among the recent tax developments that could affect you are the following items: Last year’s tax law restored the full $2,000 deduction for the purchase of a new clean-fuel automobile. This deduction can be taken even if you don’t itemize ...

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Defining The Term 'Standard Of Value'

Business valuations may be performed in connection with estate and gift tax matters, business acquisitions and divestitures, dissenting shareholder disputes, buy-sell arrangements, marital dissolutions, etc. After determining the purpose of the business valuation, it’s important to determine the standard of ...

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Recent IRS Rulings And Announcements

Medical Expenses – (P.L.R. 200521003) – Qualifying medical expenses are deductible as an itemized deduction on Schedule A of Form 1040 to the extent that they exceed 7.5 percent of adjusted gross income. In a recent private letter ruling, the ...

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