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Fall QuickBooks Seminars
The Certified QuickBooks ProAdvisors of Trout, Ebersole & Groff, LLP offer a series of QuickBooks training seminars. These seminars are geared towards bookkeepers, accountants and small business owners who are interested in learning the basics and beyond.
The seminar series includes:
Introduction to QuickBooks September 20, 2011
Accounts Receivable September 22, 2011
QuickBooks Payroll September 27, 2011
Accounts Payable/Banking September 29, 2011
Please visit our website for more information and registration forms.
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How an intrafamily loan can help you transfer wealth
 Lending money to loved ones can be a tax-smart strategy for transferring wealth to family members, particularly in today’s low-interest-rate environment. This article explains why, and shows the process. However, there can be risks, including an IRS challenge if the transaction isn’t treated as a legitimate loan. A sidebar offers a specific example of an intrafamily loan in action.
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Act now — QSBS offers gain without the pain
 Time is running out for a remarkable tax break for investors. If they invest in qualified small business stock (QSBS) by the end of 2011 and hold it for more than five years, they’ll be able to sell the stock tax-free. Lawmakers have proposed making this tax break permanent, but unless they act before year end, investors will need to move quickly to take advantage of it. This article describes the benefit of QSBS, but also warns about the complexities involved.
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Want to defer tax? — Consider a Sec. 1031 exchange
 A Section 1031 exchange allows investors to defer the gain on real or personal property used in a business or held for investment if, instead of selling it, they exchange it solely for property of a “like kind.” Alternatively, a reverse exchange may be the answer for those who come across an ideal investment property that they’d like to trade into, but who have no time to sell an existing property. This article provides details, but also lists five potential traps investors should be wary of.
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Tax Tips
 This issue’s “Tax Tips” discusses IRS rulings regarding deferral of gift-card income; “red flags” that may trigger an IRS audit; and why municipal bonds touted as “tax-free” might not necessarily be so — and why, even if they are, it’s important to calculate the taxable equivalent yield to determine whether it’s a good deal.
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This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use. ©2011 TXIso11
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