Publications
As the 2021 tax filing season progresses, small businesses and self-employed taxpayers should make certain they are taking advantage of all of the tax deductions and opportunities available to them on their 2021 federal income tax returns. Tax savings increases after-tax cash flow and can mean… Read more
The Biden Administration has proposed to modernize certain tax rules relating to securities, including nonrecognition rules applicable to certain securities lending transactions and the mark-to-market rules under Section 475, to extend them to cryptocurrencies and other digital assets. The tax…
Many existing businesses pivoted from their regular operations into a different sort of enterprise during the COVID-19 pandemic. For example, a distributor of consumer goods may have shifted into medical supplies to help fill a void. Interestingly, some businesses that made a move emerged in…
Noncompete agreements are commonly included in business purchase transactions to prevent the seller from competing against the buyer for the term of the noncompete agreement. These arrangements are also sometimes called covenants-not-to-compete or noncompete covenants.
How would you feel about taking a cross-country road trip without knowing the amount of gas in your tank, your engine's temperature or your oil pressure? That's why you have an instrument panel on your vehicle's dashboard. Your business can have a dashboard, too, that features key performance…
More than 20 states now allow pass-through entities (PTEs) to elect to be taxed at the entity level as a workaround to the $10,000 federal state and local tax (SALT) deduction limitation known as the “SALT cap.” Legislation that would enact similar elective PTE tax regimes is pending in several…
If you're lucky enough to own a vacation home, you might wonder about the optimal ownership structure for the property. For rental real estate properties and real estate held for investment, such as raw land, good choices are single-member and multi-member limited liability companies (LLCs). But the…
People often ask: Is the interest paid during the year deductible on my federal income tax return? The answer is, "It depends." Generally, the interest you incurred must be allocated among the following five "baskets" for tax purposes. Based on how the interest is classified, it may be…
With inflation rising to levels not seen in decades, many business owners are finding themselves in a tight spot. When higher prices threaten to squeeze your company, simply passing on those higher costs to your customers with price increases might not be an option. What else can you do to stay…