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Hi Thomas, Please help me understand why the corp can't continue and what basis gets stepped up. Regards, Louis Sent from the all new AOL app for iOS

Gregory, If we assume the plan is for the sole owner and there are no employees, couldn't the business establish a plan that uses the cobra to provide the benefit? Of course the business must generate earnings in excess of the premiums. For example abc LLC establishes the acb Health plan. ...

Dear Louis, Thank you for your post. Your points are all fair points. I just personally spoke by phone a few minutes ago with a vice president at the company that provides and services the Exchange, and now have reason to be optimistic that an extension of the Exchange can be worked out without any ...

S Corp owner died and left the S Corp to 2 employees 60% and 40%, respectively. The main asset a fully depreciated building/warehouse (Long Island City) that cost $400,000 and is now worth $5,000,000. I think the company needs to liquidate or reorganize under these circumstances. The 2 employees ...

Hi all – The IRS plans to retire the Filing Information Returns Electronically (FIRE) system used for e-filing 1099s. We have posted information about this to our tax news ( https://mocpe.com/retirement-of-fire-for-1099-e-file/ ). Until now, in recent years, there have been two systems available ...

Dear Members, The Exchange is being upgraded to deliver an enhanced member experience. Members will have access to Exchange until May 22 and content posted up to that date will be transferred over to the new platform. On May 23, the current Exchange platform will become unavailable, and ...

I am excited to share the Society's May 2026 event calendar . There's lots of great happenings this month -- including the Emerging Technologies Committee Meeting on May 26th at 4 p.m. (here's this super-charged new committee's details: Committee Information ) and the ...

Hello everyone, I am excited to share the Society's April 2026 event calendar . There's lots of great happenings this month -- including the Emerging Technologies Committee Meeting on April 28th at 4 p.m. (here's this super-charged new committee's details: Committee Information ) ...

Hello everyone, I am excited to share the Society's March 2026 event calendar . There's lots of great happenings this month -- including the Society Town Hall Meeting on March 19th at 4 p.m., and the Emerging Technologies Task Force Meeting on March 26th at 4 p.m. -- and I hope to see many of ...

For everyone's convenience, here are the l inks to both the Governance Committee memo and the full redline text of the proposed bylaws amendment: https://www.nysscpa.org/docs/default-source/pdf/governance-committee-memo-for-2-4-26-nysscpa-bod-meeting.pdf https://www.nysscpa.org/docs/default-source/pdf/redline-dtd-2-1-26-for-proposed-2026-amendments-to-amended-and-restated-bylaws-with-amendments-eff-6-1-2023.pdf ...