■ Tax Losses. Businesses May Take Advantage Of Expanded Loss Carryback Option Under New IRS Procedure IR-2009-105 and Rev. Proc. 2009-52. You can elect under IRC Sec. 172(b)(1)(H) to carry back a net operating loss (NOL) for 3, 4 or 5 years, or a loss from operations for 4 or 5 years, against income in…
■ Roth Conversion Errata. Nov 09 Practical Planner typo. The text incorrectly reads: “be reported 1/2 in 2000 and 1/2 in 2012” should have been “½ in 2011 and ½ in 2012”. ■ Password Encryption. Organizing and protecting passwords, and assuring they are identifiable in the event of disability or death is becoming a more…
Summary: At a panel discussion for the NYS Foundation for Accounting Education conference all five panelists, led by the famed Sid Kess. and including Daniel Daniels, Esq. of Wiggin and Dana, LLP, James F. Kelly, Esq., of Davidson, Dawson & Clark, LLP, and Steven Siegel, Esq. of the Siegel Group, all complained that few clients…
Summary: Last month’s checklist began addressing claims under disability income insurance, business overhead insurance and perhaps disability buyout insurance. This month will provide a few more tips and discuss steps those struggling with their disability companies, and their advisers, can take. Reporters interested in exploring what appears to be a rather significant problem are provided…