Representing the Buyer vs the Seller: Tax Planning for Business Deals
Tax planners need to employ different strategies depending on whether they’re representing the buyer or the seller in the sale
Category: Loopholes
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Recent blogs
Debt Recourse and Tax Deductions for Partnerships and S Corporations
In a previous blog, we discussed how a shareholder in an S corporation or a partner in a partnership needs
Overcoming Limits to Tax Deductions for S Corporation or Partnership Losses
Understanding tax basis is key to maximizing tax deductions, especially for shareholders or partners involved in an S corporation or
Business Losses and PPP Loans: Understanding Tax Implications for S Corp Shareholders
Business losses have become all-too common during COVID-19. Though new tax benefits have been introduced, understanding whether these will benefit
Taking Advantage of Passive Losses
Over the last two weeks we have outlined a strategy to intentionally fail the test for material participation, for purposes
The Section 1244 Small Business Stock Loophole
This week’s blog focuses on a loophole to the $3,000 deduction on capital loss losses. Businesses don’t always go as
Defining Material Participation
If you haven’t looked at last week’s blog (“Reclassifying Non-Passive Income”), we suggest you do that first. Last week, we
Reclassifying Non-Passive Income
One strategy regarding income recharacterization is to shift non-passive income to passive income. Non-passive income is any income earned actively
Meet Your Local PVA!
Somewhere within your county, likely at this very moment, a Property Valuation Assessor (PVA) is determining the value of a
Real Property Tax Basics
Property tax is one of our country’s oldest taxes; it was even established prior to federal income tax. As far
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