MARPA has been asked to sign onto a letter supporting a bill that would repeal Subtitle B of the Internal Revenue Code of 1986 that relates to estate, gift, and generation-skipping taxes. Is this something our members support? We want to hear from you. Continue reading
The deal averting the fiscal cliff is more than merely an agreement setting tax rates; it includes numerous authorizations and reauthorizations that affect a wide variety of people and businesses. Some of our favorite tax deductions were scheduled to ‘go over the cliff’ and this bill reauthorizes them. Continue reading
The IRS has issued new tax guidance that affects parts, materials and supplies. Some of these regulations will affect PMA parts manufacturers, while other will affect their customers (and may affect their future buying patterns). Continue reading
Organizations that have export sales can significantly reduce their Federal tax by creating an Interest Charge-Domestic International Sales Corporation (IC-DISC). It’s a long name, but the concept is quite simple. By creating a separate entity, a domestic organization with international sales can defer and/or reduce their overall tax burden related to the income on these international sales. Continue reading
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