Like-Kind Exchange Being Challenged in the Art World

Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to Josh Baer, “You can defer millions of dollars of taxes,” with the like kind exchange for high-end art.Experts say the use of this tax break has expanded in response to surging prices for art and the rising number of savvy investors, often veterans of the real estate industry or Wall Street, who have… Read more »

How much do you think the largest U.S. Corporations pay in taxes?

Posted by & filed under Accounting Principles, All Articles, Cost Accounting, IFRS, International Accounting, Managerial Accounting.

In a year of presidential politics, many of America’s biggest corporations complain that they pay too much in taxes. But, how much is that? A recent analysis shows that many are actually getting off pretty easy. It turns out that the 10 most profitable U.S. companies only paid an average federal tax rate of 9… Read more »