|Not all dividends make the
tax rate cut|
Tax rate changes brought
on by the Jobs and Growth Tax Relief Reconciliation Act (2003 Tax Act) have caused
fiscal excitement, as well as some confusion, for investors. The confusion lies
in applying the new low rates to dividends. Taxpayers and their advisors are finding
that the tax break on dividends isn't as simple as it seems. Only "qualified"
dividends are eligible for the reduced rate.
|Skyboxes and opera seats:
business entertainment expense treatment|
clients and employees at sports events or arts performances can be good for
the bottom line; and tax deductible, too. Whether to maintain contacts with existing
customers, woo new business,
or reward your employees; footing the bill at
the ball game or hosting an evening at the theater can go a long way
|FAQ: What is the business
owner's responsibility for the parking lot?|
The bartering system is
an ancient form of commerce that still thrives today.
From livestock in exchange
for grain, to legal advice in exchange for accounting services,
trades are still common. However, a major difference between bartering in antiquity
versus modern American times is that the IRS wants in on the deal. Just because
money does not
change hands, does not mean that a traded good or service
loses its value, or its taxability.
And, unfortunately, the IRS won't accept
a pig or a mule for its payment, making cash a necessary
part of any barter
arrangement when it's time to pay tax on it.
|March tax compliance calendar|
As an individual or business, it is your responsibility to
be aware of and meet your tax filing/reporting deadlines. This calendar summarizes
important tax reporting and filing dates for individuals, businesses and other
taxpayers for the month of March 2004.