Rev. Rul. 2024-14: Economic Substance Doctrine in Related-Party Partnerships
Understanding the intricacies of tax law, especially in the context of partnerships, is vital to advising clients correctly. Rev. Rul. […]
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Understanding Imputed Interest: Avoiding IRS Penalties
What Is Imputed Interest? Imputed interest refers to the interest the IRS assumes should have been paid on a loan,
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What Is Accumulated Earnings Tax and How Can You Minimize It?
Managing your corporation’s finances involves balancing profits and strategic reinvestment. However, accumulating too much profit without distributing it to shareholders
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Common Tax Mistakes Business Owners Should Avoid
Running a business comes with many responsibilities, and taxes can be one of the most complicated. Unfortunately, many business owners
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Bonus Depreciation and Its Phaseout: Essential Insights
As a business owner, staying ahead of tax changes is crucial, especially when it comes to maximizing deductions that directly
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Navigating the New IRS Guidance on Allocating Basis in Digital Assets
As the landscape of digital assets continues to evolve, the IRS is increasingly clarifying how existing tax principles apply to
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Unlocking Tax Savings: The Business Use of Home Deduction Explained
As a small business owner or partner in a larger entity, taking full advantage of available tax deductions is crucial
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Business Meal Deductions: What You Need to Know
Navigating the complexities of tax rules can be challenging, especially when it comes to understanding what you can and cannot
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Section 179 Expensing: A Guide for Small Businesses
As a small business owner, maximizing your tax deductions is crucial for managing your finances efficiently. However, the world of