Welcome to another edition of Tax Tips & Traps. Every quarter we offer the latest information to help you plan, invest and save.  We invite you to call our office if there are any points within the publication that you would like to discuss.

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In this edition:

Page 1: TAX TICKLERS
Page 1: SUBSIDIZED MEALS: ARE THEY A TAXABLE BENEFIT?
Page 2: EMPLOYER-SPONSORED SOCIAL EVENTS: AFTER THE PARTY
Page 2: PERSONAL USE OF BUSINESS AIRCRAFT: HOW BIG OF A TAXABLE BENEFIT IS IT?
Page 2: DIRECTORS: CAN THEY BE LIABLE FOR CORPORATE INCOME TAXES?
Page 3: INTEREST ON DELINQUENT ACCOUNTS: PROPER DISCLOSURE ON LEGAL DOCUMENTS
Page 3: DONATION RECEIPTS: HOW COMPLETE IS COMPLETE?
Page 3: INTEREST DEDUCTIBILITY: RETURNS OF CAPITAL
Page 4: INPUT TAX CREDITS: MAKING TIMELY CLAIMS

This publication is a high-level summary of the most recent tax developments applicable to business owners, investors, and high net worth individuals. Enjoy!