Tax FAQ
 

Substance Vs. Form Relative To Income Tax Planning?

Question by Robert M | Posted in United States

From an income tax angle, define & explain the concept of substance vs. form relative to income tax planning.

1. ID facts
2. Detail the issue
3. Research authority
4. Analyze and apply the research to the facts
5. Conclusion/recommendations.


I'm meant to get 2-4 pages out of this but am not really sure what to search for. He asked for us to use some cases that are apt to this. Thanks for you help.

Answer: First lets out substance vs. form. The form is the written law. This is what you follow per the code by what it says or inadequacy thereof.

Now substance is the meat of the transaction. It's the economical purpose. You will usually see this when the "authority" is followed, however, there is no economical reason for the transaction other than to avoid taxes. This is when court cases will overrule the agreement and mention the form/substance.

Look into
 
 

Fiduciary Income Tax Planning Software?

Question by Jeff | Posted in United States

Does anyone cognizant of any software out there that is similar to BNA Income Tax Planner but for fiduciaries/trusts? Capabilities would include for Rules 1041. Thanks!

 
 

Someone Can Guide Me About The Tax Planning For The Income Of 6.5 Lakhs?

Question by sam | Posted in India

How much savings i have to style? Tell me with a case study. How much investment i have to make to get 100% tax-free income?

Answer: Take national loan & interest paid upto 1.5 L will be tax free.
Save upto 1L in 80C & it will be tax unencumbered.
Medical insurance for you & your family(including parents) will be tax free upto .25L
Go on LTC & get tax open refund of ticket expense(within limit).

Related Topics:

Calculate Property Tax
941 Tax Form
Ga Tax Commissioner

 
 

Income Tax Guide For Real Estate Agent?

Question by alex | Posted in United States

Is there a well-thought-of book on income tax planning for realtors?
I'm a new CPA and I got a Realtor client for the first time. Where can I get some help? Thanks

Answer: Yes, it is called a CPA.

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Calculate Federal Tax
County Tax Assessor Office
Ga Tax Assessors

 
 

How Will Barack Obama's Income Tax Plan Effect Seniors?

Question by Les R | Posted in United States

If he is thriving to eliminate taxes for seniors:
A- Does the $50,000.00 apply to singles or couples?
B- If it applies to couples, what if one qualifies as a elder but the other does not?

Answer: If it comes to out of date -- and I hope it doesn't -- I would hope that it applies to total household income.

If the will is to relieve a household's tax burden to help them make ends meet -- and if $50,000 is considered low enough income to underwrite assistance -- then, I couldn't imagine that it would apply to a retiree's $50,000 retirement income but, not take into deliberation his/her younger spouse's $60,000 earned income.

Related Topics:

New Income Tax Forms
Social Security Tax Limit
Capital Income Tax

 

Small Business Income Tax Planning & Preparation 2011, 2012

Baby Business Income Tax Planning & Preparation 2011, 2012 www.harborfinancialonline.com

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