2020 Tax Update for the Tax Planner – Part 2
This is our second posting on the topic, so please check out Thursday’s blog, if you missed it. There have
Category: Loopholes
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Recent blogs
2020 Tax Update for the Tax Planner – Part 1
There have been so many tax changes this year! As you might expect, it is difficult to cover them all.
Forgivable Expenses
Good news on forgivable expenses! There is a lot more that is eligible for forgiveness, and not just for new
New Rules on “Covered Period” – Why is timing so important?
This post is focused on timing. Why is timing so important? From a tax-saving standpoint, not every dollar of deduction
PPP Forgiveness
Although the focus of this post is PPP forgiveness, the loan itself is a great deal. The payment terms are
Forget about “Simple.” It’s VALUE that counts.
Here is a common misconception: if a task is simple, it isn’t valuable. Don’t take this misconception lightly, as it
Tax Carryovers: Do Statutes of Limitations Force You to Live with Your Mistakes?
We have previously discussed the statute of limitations regarding tax audits when the taxpayer applies a net operating loss (NOL) to
Corporate Refund Claims With Minimum Tax Credit Perplex IRS
Corporations have been receiving refunds from carrying back net operating losses, but those taxpayers with alternative minimum tax implications in
The Pass-Through Entity Workaround to Beat the SALT Limitation
In the past year, several states have created a pass-through entity tax (PET) to circumvent the $10,000 cap for the
Tax Advantages of IRS Form 3115 – Request to Change…
What is Form 3115? According to the IRS, the form is filed “to request a change in either an overall
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