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Focuses on the impact of the Global Settlement of Conflicts of Interest Between Research and Investment Banking on the tax deductibility of fines and penalties. Ruling of the tax code on penalties paid for violation of a law; Amounts included in the definition of fine or similar penalty; Court ruling on fines and penalties in court cases under Sec. 162(f); Provision of the proposed U.S. Government Settlement Transparency Act of 2003 on fines and penalties.

Discusses research and development credits and the use of Form 6765, Credit for Increasing Research Activities. Examples of research expenses that should be considered when applying for the research credit; Case in which a company is deemed a start-up company; Function of base-period percentage limit.

Focuses on a tax court ruling on the subjectivity of closing agreement executed before July 22, 1998 to innocent spouse tax relief provisions. Background on the tax relief provisions of the tax code; Tax liability changes under the U.S. Internal Revenue Service Restructuring and Reform Act of 1998; Basis of the tax court's decision on the Marianne Hopkins case.

Discusses about the tax treatment for sod and nursery farming in the U.S. Accounting methods used in the farming industry; Costs required for capitalization; Advantages of the tax code to farmers.

Focuses on methods that can be used to gain relief from international double taxation. Mitigation of double taxation through foreign tax credit; Features of the deduction method; Information on the exemption method.

Offers wealth transfer planning strategies to take advantage of low interest rates. Applicable Federal rate (AFR) in July 2003; Benefit of interfamily loans; Use of AFR by an installment sale to an intentionally defective grantor trust.

Discusses bonus depreciation offered by the U.S. Jobs and Growth Tax Relief Reconciliation Act of 2003 as a primary business incentive. Eligibility of a property for the incentive; Computation of bonus depreciation; Accounting treatment of bonus depreciation for purposes of asset disposal under Section 1245.

Discusses regulations on the exclusion of vans and light trucks from the depreciation limits imposed on luxury automobiles. Effectivity date of the rule; Allowable first-year depreciation deduction for luxury automobiles; Discussion on the temporary and proposed regulations on depreciation limits.

Relates the qualification of small corporations for alternative minimum tax exemption under the U.S. Internal Revenue Service Restructuring and Reform Act of 1998. Discussion on special circumstances on the measurement of gross receipts of small corporations; Definition of gross receipts; Consequences if a qualified corporation loses its exemption.

Provides information on the issuance of promissory notes and the subsequent disbursement of loans between U.S. shareholders and subchapter S corporations. Relation of interest payments in loan and tax deficiencies; Discussion of the interest and repayment terms of corporate loans; Taxation of partnership and ownership of subchapter S corporations.

Deals with due process protections given to taxpayers from the U.S. Internal Revenue Service's lien and levy actions. Discussion of the underlying tax liability in cases of due process hearing; Importance of sufficient notice in cases of administrative hearing for tax cases; Tax liability when a case is up for an appeal in tax courts.

Provides information on the taxation of unreported tip income in the U.S. Provisions of the Federal Insurance Contributions Act concerning employer taxes; Utilization of the aggregate-estimated method in estimating excludable tip; Discussion of the reporting of tip income.

Provides information on qualified tuition programs and the taxation of educational expenses under the Economic Growth and Tax Relief Reconciliation Act of 2001. Rate of estate and gift tax in the U.S.; Discussion of the transference of money by beneficiaries; Taxation scheme for foreign source income.

Deals with the taxation implications of the use of private aviation by companies in the U.S. Comparison of the taxation between private aviation and commercial airlines; Issue concerning the chartering of planes; Airline maintenance costs.

Provides information on the election of certain property for taxation expense in the U.S. Depreciation of qualified assets; Guidelines on the dollar-for-dollar reduction in asset acquisition; Computation of taxable income limit.

Provides information on the application of the claim-of-right doctrine and business asset sales. Tax treatment in the event of sales price adjustment; Process of asset liquidation in selling assets to shareholders; Discussion of purchase agreements with shareholders.

Reports on a judicial decision concerning the taxation of family limited partnership (FLP) in the U.S. Illegality of transferring tax-free assets by an older family member to younger ones; Dissolution and reinvestment of FLP funds; Requirement concerning partnership agreements in line with tax valuation.

Provides information on the income and employment tax consequences of transferring stock options and deferred compensation in divorce. Discussion of the income tax for non-employee spouse; Regulations on the transference of stock options and assessment of stock market value; Tips concerning tax planning.

Provides information on the tax treatment of health reimbursement arrangements (HRA) in the U.S. Employee salary reduction for medical expenses; Expenses qualified for reimbursement under the HRA; Provisions of the Consolidated Budget Reconciliation Act of 1985.

Discusses problems that arise from the requirement of state tax payments by passthrough entities for nonresident business owners. Contractual problems; Statutory issues; Other complexities and difficulties.

Discusses about alternative minimum tax (AMT) planning under the U.S. Jobs and Growth Tax Relief Reconciliation Act of 2003. Factors that trigger AMT; AMT exemption for married taxpayers; Technique to mitigate AMT.

Discusses the tax treatment given by the U.S. Internal Revenue Service to employee-owner compensation in C and S corporations. Report of the Treasury Inspector General for Tax Administration; Tax structure of corporations; Salary of stockholders and their corresponding deductible expense.

Assesses the application of cash-basis accounting method in small businesses. Development of inventory and cash transaction system; Guidelines of the North American Industry Classification System for the application of cash method in businesses; Evaluation of business activity through the gross-receipt test.