Material Participation Standard is the Key to Unlocking LLC Tax Losses

Many privately held businesses have incurred losses during the COVID-19 pandemic. Unfortunately, the federal income tax passive activity...

How Can Business Owners Lower Last Years Tax Bill?

Good news! Business taxpayers may still be able to take actions to lower their federal income tax liabilities for 2020, as well as for...

Attempts to claim write-offs for bad debt losses have fueled controversies with the IRS for many years. Unfortunately, bad debt losses...

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act delivers good news to individuals and businesses, including...