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A Lesson In S-Corporation Basis Taught By The Courts With a Big Olâ Southern Grin (CPA Practice Advisor) - The way that I was taught basis in an S-Corporation, was if a shareholder started a business with $10,000, those funds would be added to their Paid in Capital (PIC) Account, and that would be the shareholderâs beginning basis. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES AICPA Issues Nonauthoritative Guidance for Payroll Audits (JofA) - The AICPA recently issued nonauthoritative guidance relating to multiemployer plan payroll compliance services when a practitioner is engaged to perform payroll compliance procedures... Interest Rates Remain the Same in the Third Quarter of 2018 (IRS) - Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points. How to Create an Effective PC Lifecycle Policy (TechTarget) - For IT to master enterprise PC management, it must weigh the productivity needs of its organization and employees against the costs of purchasing new PCs. Landlords Are Practically Giving Malls Away (Bloomberg) - As they battle the rise of e-commerce, U.S. mall owners are trying to clear their books of fading centers so they can focus on the most-profitable ones. Thatâs proving difficult, with just a shallow pool of investors who are willing to take on a declining mall. Taxation Accounting/Audit |  TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  Will it Blend Silly Putty   |