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It takes careful planning to restructure a business operated by an S corporation into a form that might qualify under IRC Section 1202.  

A lesser-known rule in the startup community is that California requires businesses that have established a presence in another state or foreign jurisdiction to “apportion” their income or losses, using a formula called the “single sales factor.”

The IRS recently issued further guidance as to substantiation for ERC claims; the Service will be scrutinizing claims of partial shutdowns carefully. Employers cannot rely on assumptions, hearsay, or assurances from others that their supplier shutdown was due to a government order.  

To help explain Form 1099-MISC and related issues, we have compiled the following FAQ. This helpful guide covers the nuts and bolts for both issuers and recipients of Form 1099-MISC. 

This article reports on a Notice of Proposed Rulemaking filed by the IRS to resolve litigation between taxpayers and the IRS and disagreements among the U.S. Tax Court and Circuit Courts of Appeal.

There are tax deferral opportunities for real estate owners and investors in understanding the mechanics of a reverse 1031 exchange. This article covers the benefits and risks you need to know of reverse 1031 exchanges.

Here are six areas charitable 501(c)(3) organizations should focus on maintaining compliance in to maintain tax-exempt status.

Although the pandemic is starting to feel like history, its effect on, and relief provided by, the IRS are still very relevant. Here is an overview of the current status of select COVID-19 related programs, announcements, and tax rulings.

Each year, dozens of Oscar nominees receive the infamous “swag bag” collection of expensive gifts, which includes designer goods, vacations, and even vouchers for cosmetic procedures. Some of these stars might be surprised to learn that the receipt of these “gifts” comes with one major string: a federal tax bill.

Providing for a disabled relative as part of an estate plan can be tricky. An IRC Sec. 529A account, better known as an ABLE account, made possible by the Achieving a Better Life Experience Act, may be a solution.

If your organization relies on popular apps to accept payments but has never received a Form 1099-K, that might be about to change. 

Learn some key considerations when it comes to filing Form 1099-NEC.

This article offers strategies to help you minimize income tax exposure for the current and future years and maximize the amount of funds you will have available for retirement, reduce the cost of financing your children’s education, reduce eventual estate taxes, and manage your cash flow to help you meet your financial objectives.

This article features insight into a number of areas of IRS interest involving partnerships and international tax penalties where we may get some clarity in the coming year.

IRS and Treasury recently issued interim guidance to assist taxpayers and their advisors in applying the rules on the new excise tax on repurchases of corporate stock. The Notice provides additional clarity regarding the calculation of the tax base, applying the rules to certain transactions and other events, and reporting requirements.

Many states created a pass-through entity tax (“PTET”) that shifted the state and local tax deduction from an individual taxpayer to the entity level that is not subject to the $10,000 state and local tax deduction per year.

A charitable remainder trust (“CRT”) can be an effective tool for accomplishing your philanthropic goals while also creating a source of income for yourself and your family.

The CARES Act authorized the SBA to issue EIDL to certain COVID-19 affected businesses and eligible small business owners. The payment deferral period has begun to sunset, and payment is becoming due for borrowers who took loans out early in the pandemic – and some of those owners are facing tax consequences.

Learn how to leverage brownfield and renewable energy tax credits and navigate the Inflation Reduction Act and NY Brownfield Cleanup Program for maximized real estate development returns.

Explore tax-efficient strategies for passing wealth to the next generation, particularly for those with appreciated real estate held in S corporations. Learn how a freeze partnership can mitigate phantom income tax gains and simplify estate planning.