Tax Strategies

Mergers and acquisitions are expected to increase in 2013, according to a new survey, with 76 percent of the more than 300 M&A professionals in the U.S. who were polled anticipating that their company will make at least one acquisition in 2013.

While Section 179D of the Tax Code expires at the end of 2013, opportunities exist in two areas: accelerating future projects into 2013 and reviewing projects dating back to Jan. 1, 2006 that resulted in energy savings.

The American Institute of CPAs has written to the leaders of Congress’s tax-writing committees asking them to expand the replacement period for property loss for taxpayers affected by Hurricane Sandy.

Professional services search firm ExpertBids has released its 2012 tax Webpage designed to help small and medium sized businesses across the United States find the right tax accountant free of charge.

The Treasury Department and the Internal Revenue Service have issued a long-awaited set of final regulations implementing the information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act aimed at combating offshore tax evasion, with far-reaching implications for U.S.-born taxpayers abroad, in addition to foreign financial institutions as well as U.S. banks.

For businesses relocating or expanding into new markets, taxation is now one of the top 10 site selection factors that determine where companies decide to set up shop, especially in high-cost states like California, Massachusetts, New York and Illinois.

2nd Story Software, the company that makes TaxAct consumer tax prep software, has introduced a do-it-yourself estate planning software product for drawing up a last will and testament.

The Internal Revenue Service has released the annual inflation adjustments for 2013, including the tax rate schedules and other tax changes from the recently enacted fiscal cliff legislation with its new tax rate of 39.6 percent and permanently patched Alternative Minimum Tax.

The Internal Revenue Service stated on Tuesday that they will begin processing individual tax returns on Jan. 30, 2013, marking the official beginning of “tax season” for tax professionals.

Fresh from year-end tax planning meetings with clients, we’ve identified four areas where great tax planning and great financial planning collide, specifically for people accumulating wealth.