How to comply with the new uniform capitalization rules

Article Abstract:

The new uniform capitalization reporting rules under the Tax Reform Act of 1986 require businesses to capitalize many costs that were previously deducted. Subsequently, businesses will have less tax-deductible expenses and will have to pay higher income tax. The rules affect real and personal property produced or purchased for resale, inventory, or use in the normal course of business. Inventory assets will be added to taxable income over a four year period, and non-inventory assets will will be added immediately in the year of change. In addition, the rules will have effects on accounting and auditing practices.

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Taxes and dividends: the UK evidence

Article Abstract:

An empirical analysis is done to demonstrate the effects of corporation and personal income taxes on dividend payment adjustments and on the behavior of share prices. Firms were found to set their dividend policies to minimize their tax liability and maximize shareholders' returns after tax. Those unable to deduct advanced corporation tax from their tax liability paid low dividends. The differential taxation of dividends and capital gains caused the drop in ex-day share prices by an amount less than that of the dividend.

United Kingdom, Economic aspects, Dividends, Income tax

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Lee A Sheppard Interviewed by Jerald David August

Article Abstract:

Lee Sheppard, a nationally recognized and widely published tax authority and a Contributing Editor of Tax Notes, expresses her opinion on tax profession and answers queries related to tax.

United States, Interview, Editors, Sheppard, Lee

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