In a previous blog, we discussed tax basis—the amount that a taxpayer has invested in business assets, which determines the
In a previous blog, we discussed how a shareholder in an S corporation or a partner in a partnership needs
Understanding tax basis is key to maximizing tax deductions, especially for shareholders or partners involved in an S corporation or
Business losses have become all-too common during COVID-19. Though new tax benefits have been introduced, understanding whether these will benefit
California Prop 19, also known as “The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural
Employers will continue to see tax benefits for providing paid sick leave and family leave for the second and third
Over the last two weeks we have outlined a strategy to intentionally fail the test for material participation, for purposes
This week’s blog focuses on a loophole to the $3,000 deduction on capital loss losses. Businesses don’t always go as
If you haven’t looked at last week’s blog (“Reclassifying Non-Passive Income”), we suggest you do that first. Last week, we
One strategy regarding income recharacterization is to shift non-passive income to passive income. Non-passive income is any income earned actively
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