In Bordelon v. Commissioner, the Tax Court addressed the circumstances under which an individual’s personal guarantee of a loan to his single-member LLC established sufficient amounts at risk to enable him to claim more than...more
The recently enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as well as IRS guidance released in the last few days, aim to provide real estate businesses, among others, with decreases or delays in...more
Plano Molding Co. (target), a manufacturer of plastics, was acquired by Plano Holding, an affiliate of the Ontario Teachers’ Pension Plan Board (buyer), from Tinicum Capital Partners (seller). ...more
1/15/2020
/ Business Expenses ,
Corporate Sales Transactions ,
Fees ,
Finder's Fees ,
Merger Agreements ,
Purchase Price ,
Safe Harbors ,
Section 162 ,
Tax Court ,
Tax Deductions ,
Tax Liability ,
Tax Planning ,
Tax Returns
Tax-exempt organizations that have unrelated business taxable income (UBTI) may need to calculate their UBTI differently as a result of a change in the tax law made by the Tax Cuts and Jobs Act of 2017 (TCJA). ...more
3/11/2019
/ Business Taxes ,
De Minimus Quantity Exemption ,
Income Taxes ,
IRS ,
NAICS ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Planning ,
Tax Reform ,
UBTI
Tax season has begun, and it is crucial for any taxpayer claiming a charitable contribution deduction to be aware of the acknowledgment rules. Before the taxpayer files a tax return claiming a charitable deduction of $250 or...more
Taxpayers who make payments in conjunction with a forfeiture action should attempt to understand the characterization of a payment to see if the specific payment can avoid being treated as a fine or penalty.
Originally...more
11/22/2016
/ Disgorgement ,
Financial Industry Regulatory Authority (FINRA) ,
Fines ,
IRS ,
Penalties ,
Section 162(f) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Violations ,
SRO ,
Tax Deductions ,
Tax Returns