No More Quick Answers
Peter G.
Masullo
December 2000
Don’t be surprised the next time your accountant tells you, "I’ll have to think about that." Because of the complexity of the tax code, we can no longer answer your questions without first checking our virtual libraries and then running the numbers on our super charged computers. Take, for example, the following passage from IRC Section
53(d)(1)(B)(i):"The adjusted net minimum tax for any taxable year is--
(I) the amount of the net minimum tax for such taxable year, reduced by (II) the amount which would be the net minimum tax for such taxable year if the only adjustments and items of tax preference taken into account were those specified in clause (ii) and if section 59(a)(2) did not apply."
To contact us Email to Masullo@catskill.net
Peter G. Masullo, CPA
NY Tax Accountant
www.cpa-taxlawyer.com