Annette Nellen
San Jose State University, Accounting & Finance, Faculty Member
- My research interests include federal, multistate and California tax reform and policyedit
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Research Interests: Business and Tax reform
The tax reform fever that has hit the United States has many clients asking CPAs what changes the might face, as well as how business and investment strategies could be affected. While some of the proposals provide enough information to... more
The tax reform fever that has hit the United States has many clients asking CPAs what changes the might face, as well as how business and investment strategies could be affected. While some of the proposals provide enough information to recompute current tax liabilities, that alone ...
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Given the breadth and variety of tax relief provisions in the American Recovery and Reinvestment Act (ARRA) of 2009, PL 111-5, one or more could affect your clients' individual returns for the 2009 tax year. Many are intended to... more
Given the breadth and variety of tax relief provisions in the American Recovery and Reinvestment Act (ARRA) of 2009, PL 111-5, one or more could affect your clients' individual returns for the 2009 tax year. Many are intended to provide relief for taxpayers in financial distress, stimulate consumer spending or provide an incentive for more environmentally friendly living. They cover everything from tax treatment of unemployment benefits to child credits. Tax organizers and client letters should already reflect these measures; the following is a summary of some of the most prominent points to cover in correspondence and discussions with clients. INCOME Net operating losses. The ARRA amended IRC [section] 172(b)(1)(H) to allow eligible small businesses to carry back a 2008 net operating loss (NOL) up to five years instead of the otherwise available two-year limit. The IRS issued a clarifying revenue procedure because many taxpayers had inadvertently submitted invalid elections to ...
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The factors guiding recent tax reform efforts are different from those that influenced the debate in 1986, the last time the Internal Revenue Code received a major overhaul. The development of the internet has changed the traditional... more
The factors guiding recent tax reform efforts are different from those that influenced the debate in 1986, the last time the Internal Revenue Code received a major overhaul. The development of the internet has changed the traditional views of tax rules, administration, and compliance. Design of a tax system today should provide similar incentives for intangible and tangible property, address a broader range of business entities, and consider that people work and live longer. Protecting taxpayer data in digital form is more important, as is the tax treatment of digital transactions that are becoming increasingly more difficult to source. A set of tax principles can help in tax system design to better ensure administrability, fairness, and economic efficiency. Like tax systems, tax principles should be evaluated regularly to ensure they address today's ways of living and doing business. THE UPDATED CONCEPT STATEMENT Tax Policy Concept Statement No. 1, Guiding Principles of Good Ta...
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Treatment of legal fees incurred by individuals: depending on the claim that generated them, individuals' legal fees may be characterized in a variety of ways, from fully deductible to deductible only as a miscellaneous itemized deduction to totally nondeductible. This article explains the possib...more
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Research Interests: Business and Accountancy
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This is one in a series of reports on weaknesses in California's tax system. Report #1 listed several structural weaknesses and policy issues that exist in most of California's taxes and the system overall. Subsequent reports... more
This is one in a series of reports on weaknesses in California's tax system. Report #1 listed several structural weaknesses and policy issues that exist in most of California's taxes and the system overall. Subsequent reports provide further details on each of the weaknesses and issues, along with possible remedies. The purpose of this series of reports is to help promote serious discussion on the need to and the ways to bring California's tax system into the 21st century so it may best promote economic growth, be more equitable, efficiently meet state revenue needs, reduce taxpayer frustration, and be understandable and transparent. A blog accompanies these reports to enable online discussion and a website exists to access the reports and the blog:
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Explains the ten guiding principles of good tax policy of a framework outlined in American Institute of Certified Public Accountants Tax Policy Concept Statement No. 1. Analysis of the guiding principles; How the principles can be used to... more
Explains the ten guiding principles of good tax policy of a framework outlined in American Institute of Certified Public Accountants Tax Policy Concept Statement No. 1. Analysis of the guiding principles; How the principles can be used to analyze proposals; Application of the guiding principles