Churches and religious organizations can both qualify as tax-exempt organizations described in Code Section 501(c)(3). In the case of churches, qualification can be achieved more simply than for a non-church. The allure of...more
A brief commentary on the past week’s cases, rulings, notices, and related federal tax guidance. Medical Software Deemed a Qualifying Trade for Qualified Small Business Stock Gain Exclusion When certain criteria are met,...more
11/9/2021
/ Capital Gains ,
Cryptocurrency ,
Digital Assets ,
Gain Exclusion ,
Income Taxes ,
IRS ,
Non-Fungible Tokens (NFTs) ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Qualified Small Business Stock ,
Small Business ,
Tax Planning
Traditionally, an entity applying for tax exempt status under Code Section 501(c)(3) will be a corporation. With the rise in popularity of the LLC over the last 25 years, it’s a wonder that LLCs are not used more frequently...more