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Articles


June 24, 2008
Rosanna DiFilippo - MFA - Moody, Famiglietti & Andronico

Over the course of two decades, online sales went from fad to fortune to bust, and have now settled in as part of everyday business for a wide variety of small to medium sized companies. In fact, if you’re selling something then you most likely have an online component – and if you don’t, you’re thinking about it. The wide net that can be cast brings in more buyers from more places, giving sellers the ability to leapfrog to a new level of success. But just as online sales yield higher income for companies, the states in which they do business expect to be compensated through both sales and income tax.

June 24, 2008

Where a partnership is owned entirely by a husband and wife who file a
joint return, there has been the question of whether a Form 1065 for the
partnership is necessary. In the Small Business and Work Opportunity Tax
Act of 2007, signed into law in May 2007, Congress added section 761(f) to
address joint ventures between spouses who file joint returns, effective
for years beginning after Dec. 31, 2006.

June 18, 2008
Like-kind exchanges allow an investor to swap property and defer the capital gains tax. Section 1031 of the Internal Revenue Code allows an investor to defer taxable gains on the sale of certain types of investment property if the investor exchanges that investment property for similar or like-kind investment property. Real property can be exchanged as like-kind property. One type of real property may be exchanged for another. So long as the real property is investment property only, the type of real property swapped does not matter. A warehouse/distribution property may be swapped for a shopping center or vacant land may be swapped for an office building. Interests, however, in business entities, such as a partnership interest, shares of a corporation or membership interests in an LLC do not qualify for §1031 tax-deferred exchange treatment, even if those business entities manage or hold investment real property.1
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White Papers


The 2 P's of Disaster Planning: When You Can't Prevent, You Must Prepare
Frank Rudewicz
Corporations are continually reassessing their incident response preparedness for the purpose of mitigating risks and improving protection of their employees, visitors, customers, assets and facilities. Thus, it is imperative that every company, no matter what size, have in place a plan to respond to a corporate disaster.
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Industry News


State Finances: Budget Pressures Will Crimp Spending - Kiplingers Business - June 17, 2008
Hard times for state governments will slow the economic recovery nationwide.

Inflation Figures Might Not Quell Price Fears - Kiplingers Business - June 17, 2008
Rising inflation expectations, due to steep food and energy prices, are as big a worry to the Federal Reserve as the actual numbers.

Security freeze better than fraud alert - Bankrate - June 17, 2008
A security freeze offers stronger protection than a fraud alert, says Dr. Don Taylor.

Bad economy no excuse for young debtor - Bankrate - June 17, 2008
A young woman who's deep in debt needs to get a job fast, says the Debt Adviser.

Deducting rental expenses - Bankrate - June 17, 2008
Rental condo expenses don't have to be offset by rental income, says CPA George Saenz.

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