Is it a trade or business? Or a hobby or investment?
Many Code provisions apply only to a “trade or business.” Various tax consequences can occur if an activity is instead...
About Victoria
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Victoria has contributed 89 entries to our website, so far.
New stock repurchase excise tax
May 9, 2023
The Inflation Reduction Act, P.L. 117-169, was signed into law on Aug. 16, 2022. The act included a new Sec....
Supreme Court holds FBAR penalty is imposed per report, not per account
May 9, 2023
The U.S. Supreme Court held Tuesday in a 5-4 decision that the $10,000 penalty for a nonwillful failure to file...
Beneficiary IRAs: A guide to the RMD maze
May 5, 2023
A newly acquired individual retirement account (IRA) is good financial news for the recipient, but clients may need help unraveling...
Dirty (Half) Dozen: Watch for these red flags when choosing a tax preparer
May 2, 2023
The IRS reached the halfway point of its annual “Dirty Dozen” list of tax scams when it advised that taxpayers...
Recent Posts
- IRS reduces user fee for estate tax closing letters June 6, 2025
- Deduction for Theft Loss and Legal Fees Denied June 2, 2025
- The Home Sale Gain Exclusion in Today’s Market May 29, 2025
- Tax planning for physicians May 23, 2025
- Lower Auto Depreciation Limits Issued for First Time in at Least 3 Years March 13, 2025