Digital documentation: Avoiding a business deduction disallowance
The number of self-employed workers is on the rise. Recent employment data indicates 11%, or over 17 million U.S. workers, are...
Is it a trade or business? Or a hobby or investment?
May 27, 2023
Many Code provisions apply only to a “trade or business.” Various tax consequences can occur if an activity is instead...
Deduction of startup expenses
Jan 3, 2023
When is a company allowed to report as deductions on a tax return the expenses that have been incurred during...
Employee retention credit: Navigating the suspension test
Nov 29, 2022
Establishing eligibility for the employee retention credit (ERC) by satisfying the business operations suspension test (suspension test) is similar to...
Rolling over shares upon S corporation’s acquisition
Nov 22, 2022
S corporations are widely used throughout the country, primarily by privately held businesses. As there has been an increase in...
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