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Articles with the keyword "FIN 48"

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Decrease Taxable Income at Year-End with Needed Upgrades

In February 2009, Congress passed The American Recovery and Reinvestment Act. This stimulus act provides many opportunities for taxpayers to save money, but most importantly, for businesses, the Act extends bonus depreciation from 2008 to 2009. By taking advantage of…

Service Providers Beware: You Could Have Nexus in California Without Having Physical Presence

California’s 2009–2010 budget, which was signed by Governor Arnold Schwarzenegger on February 20, 2009, contains significant changes to California tax law. These changes could impact companies with sales to California customers even if the companies do not have a physical…

Illinois Ends Deduction for Reasonable Compensation Paid to Partners

On July 16, 2009, Illinois Governor Pat Quinn signed SB 1912 into law, which ends the deduction for the greater of personal service income or a reasonable allowance for the compensation of partners on Illinois partnership returns for tax years…

Strength in Numbers: Merging with Another Not-for-Profit Takes Diligent Preparation

Shrinking federal funding, stiff competition for grants and a soft economy all challenge a not-for-profit's existence, which has given rise to mergers and other strategic alliances. At times like these, common sense might point to pooling organizational resources and eliminating…

FASB Ruling Could Impact Not-for-Profits with Unrelated Business Income

Even if your not-for-profit is considered tax-exempt, it still might need to comply with a new accounting rule on uncertainty in income taxes.The Financial Accounting Standards Board (FASB) Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (FIN 48)”—effective for…


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This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.