It is not uncommon for a corporation to have net operating losses ("NOLs") that may be carried forward from year-to-year, and may be used to offset the corporation’s taxable income in future years. A corporation’s ability to...more
Whether you’re an investor expanding your portfolio to include digital assets such as cryptocurrencies and tokens, a business that uses cryptocurrencies to engage in everyday transactions, or a crypto “miner," you need to...more
4/20/2022
/ Cryptocurrency ,
Digital Assets ,
Fair Market Value ,
Income Taxes ,
IRS ,
Non-Fungible Tokens (NFTs) ,
OECD ,
Recordkeeping Requirements ,
Reporting Requirements ,
Software ,
Taxation
On November 18, 2020, the Internal Revenue Service ("IRS") clarified its stance on the deductibility of expenses paid or incurred by businessowners who participated in the Paycheck Protection Program (“PPP”) by issuing...more
12/2/2020
/ Business Expenses ,
CARES Act ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
IRS ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Popular ,
Safe Harbors ,
Tax Deductions
If you’re reading this Legal Alert, then you may be one of the many business owners, real estate professionals, restauranteurs, or retailers who were disappointed at how the tax law changes enacted in the Tax Cuts and Jobs...more
On March 27, 2020 the President signed into law a historic $2 trillion stimulus package known as the Coronavirus Aid, Relief, and Economic Security ("CARES") Act to provide economic stimulus for the devastation resulting from...more
3/31/2020
/ Business Expenses ,
CARES Act ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Property Improvements ,
Relief Measures ,
Retirement Funds ,
Small Business ,
Tax Credits ,
Tax Deductions ,
Tax Relief
In response to the COVID-19 pandemic, IRS Notice 2020-17 (the “Notice”) postpones to July 15, 2020, the due date for making a Federal income tax payment otherwise due on April 15, 2020. This relief is available for...more
Private credit appears to be the dominating trend throughout emerging business markets. Businesses seeking to raise capital are finding private investors who, unsurprisingly, are looking to maximize yield, while at the same...more
Historically, Canadian investors in U.S. partnerships benefitted from an extremely efficient income tax structure – i.e., a single level of tax, credit against Canadian taxes for taxes paid in the U.S., and an ability to...more
This is an update to a 2013 Legal Alert by Bahar Schippel and Bill Kastin titled: Excluding 100% of Gain From the Sale of Qualified Small Business Stock Acquired in 2013.
Among the tax breaks included under the...more
I. Executive Summary -
The Treasury Department and the IRS are sensitive to the data security problems facing organizations, their employees and their customers and, as a result, have provided some welcomed...more
Over the past few months both the IRS and the Department of Labor (DOL) have separately issued guidance emphasizing the importance of proper worker classification and some of the more common employment tax-related issues...more
The latest edition of Global Connection offers insight into a potential money laundering crackdown in the real estate sector, information on the Federal Trade Commission’s approach to data breach investigations and a legal...more
Any U.S. person with a foreign affiliate is required to file the 2014 Form BE-10, Benchmark Survey of U.S. Direct Investment Abroad by June 30, 2015 or face civil penalties between $2,500 and $25,000. Further, a willful...more
6/6/2015
/ Benchmarks ,
Civil Monetary Penalty ,
Compliance ,
Criminal Penalties ,
Filing Requirements ,
Foreign Affiliates ,
Foreign Direct Investment ,
Foreign Investment ,
Form BE-10 ,
Internal Revenue Code (IRC) ,
Popular ,
Real Estate Investments
The IRS recently issued a private letter ruling which allowed a for-profit medical group (e.g., a hospital) to benefit from losses sustained by its wholly owned physician medical group – and allowed this to occur in a state...more
1/22/2015
On June 18, 2014, the IRS made significant changes to the procedures pursuant to which U.S. Persons can disclose any failure to timely file a Report of Foreign Bank and Financial Accounts (FBAR), and/or an international...more
You know what’s better than earning portfolio interest? Nothing. OK, that may be an overstatement. But for non-U.S. lenders looking to earn a return on their U.S.-based investments, with respect to paying U.S. taxes, that’s...more
If you own a small business, it may be easier to raise money in 2013. This is because, among the favorable tax breaks included under the American Taxpayer Relief Act (the “2012 Act”), there is a temporary extension of the...more
Contents:
Part I: A Brief Factual Look at Arizona:
- Population and Job Growth
- Personal Income
- Exports
- Leading Industries
- Location
- Business Costs
- Labor Force
- Education
-...more