At Maner Costerisan, our tax specialists will work closely with you throughout the year to create innovative and customized solutions to minimize your tax burden. In addition, our cutting edge technologies enhance our efficiency and accuracy in complying with all federal and state taxing authorities. Our professionals stay on top of the laws and filing requirements of multiple states in order to provide superior service to our clients.
Tax Due Diligence Presented By: E. Daniel Leightman Partner, Tax Section Gardere Wynne Sewell LLP. Income tax accounting matters. Target As A Subsidiary. If the target is a subsidiary of a selling parent corporation.
We can assist with the following services:
Tax Preparation
- Business and individual
- Multi-state
- Estate and gift
- Fiduciary
- Tax exempt
- Pension
- Personal property
Tax Planning
- Business and individual
- Personal financial
- Estate
- Retirement
- Pension
- Succession
- Divorce
Additional Tax-Related Services
- Representation on audits with the IRS, state of Michigan, etc.
- Tax research
- Cost segregation studies
- Property tax abatements
Additional Resources
- Return Due Date Changes for the 2017 Tax Filing Season (Tax Year 2016) (.pdf download)
- Affordable Care Act (ACA) What’s New for Individuals & Families IRS Form 5187 (.pdf download)
- Health Care Credit Employee Listing (.pdf download)
- IRA Conversion (Detailed) (.pdf download)
- IRA Conversion (Summary) (.pdf download)
- Special Update: Fiscal Cliff Averted, American Taxpayer Relief Act of 2012 (dated 1-3-2013)
Please note: the business standard mileage rate is 54 cents per mile
Question 1
Which one of the following statements concerning Roth IRAs is correct?
- A distribution from a Roth IRA is treated as first made from contributions (return of capital).
- The maximum contribution to a Roth IRA is limited to $5,000, for 2018.
- An individual cannot make contributions to a Roth IRA and a traditional IRA during the same tax year.
- A contribution to a Roth IRA must be made by the due date for filing the individual’s tax return for the year (including extensions).
Correct Answer A
A distribution from a Roth IRA is treated as first made from contributions, and to that extent, will be a nontaxable return of capital. An individual, under age 50, can make a contribution to both a traditional IRA and a Roth IRA for the same tax year as long as the total amounts contributed do not exceed an overall maximum of $5,500. Contributions to a Roth IRA must be made by the due date for filing the individual’s tax return for the year (not including extensions).
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This free quiz question was presented by Wiley CPAexcel Author: Professor Marianne M. Jennings – J.D.
Arizona State University: W.P. Carey School of Business, Professor of Legal and Ethical Studies
CPAexcel Author & Video Lecturer
Arizona State University: W.P. Carey School of Business, Professor of Legal and Ethical Studies
CPAexcel Author & Video Lecturer
End of quiz
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