Our Latest Blog
Is it a trade or business? Or a hobby or investment?
When it comes to engaging in commerce, distinguishing between a trade and a business is crucial. While a trade typically involves small-scale exchanges for money,
IRS Gives another Limited Estimated Corporate AMT Underpayment Waiver
Learn how the corporate AMT underpayment waiver is giving businesses a second chance to correct their tax mistakes without facing penalties. Find out how the
Sec. 338(g) Elections for Foreign Corporations and Creeping Acquisitions
In the world of corporate transactions, knowing the ins and outs of Section 338(g) elections can make all the difference. By understanding this tax provision,
Dual Consolidated Losses: Recapture Considerations
Navigating the complex world of tax laws and regulations as a multinational company can be challenging, especially when it comes to Dual Consolidated Losses and
Smart Tax Strategies for Lottery Winners
Winning the lottery may be a dream come true, but it often comes with a hefty tax bill. Understanding how lottery winnings are taxed and
Taxpayers’ rights in the Internal Revenue Manual
Navigating the complex world of taxes can be daunting, but knowing your rights as a taxpayer is essential. From the right to be informed to
6,000 Pound Vehicle List – Special IRS Depreciation Tax Benefit
Unlock significant tax benefits for your property by meeting IRS requirements for special depreciation. Learn how MACRS eligibility, property class life, Section 179 qualifications, and
How Does Income from Wholesaling in Real Estate Gets Taxed?
Navigating the complexities of taxation on income from wholesaling is essential for any business owner. Understanding taxable income, allowable expenses, and tax rates are key
What Does Built In Gain Mean In Partnership?
Understanding built-in gain is crucial in partnership taxation, as it can impact both the partnership’s tax liabilities and individual obligations. Factors such as the nature