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A recent Tax Court opinion has garnered attention with respect to the treatment of certain obligations as either debt or equity for tax purposes, an issue that can involve significant uncertainty and generally requires a facts and circumstances analysis in each case. In Estate of Thomas H. Fry v.… Read more
Once your business has survived the start-up phase, it's got a solid foundation to grow. Business and financial advisory services are critical at this stage of development. Here are some major areas or functions of your company to focus on as you look to take it to the next level.
For years, the tax code has offered an incentive for employers to provide child care to their employees in the form of the Section 45F child care tax credit. But the credit is rarely claimed, according to the Congressional Research Service.
Are you planning to take a business trip this summer? If your destination is known for its cultural or recreational attractions, you might want to combine some leisure with your business activities. You still may be able to enjoy plenty of tax benefits from the trip — if you stick to a strict tax…
The general business credit (GBC) may help certain small businesses cut their federal income tax obligations significantly. This is an "umbrella" credit that encompasses various business-related credits, which are far more valuable than tax deductions. While deductions reduce only your taxable…
“An exemption from UNICAP? And no limitation on the amount of business interest expense I can deduct? Sign me up!”
The White House on March 11 released President Biden’s fiscal year 2025 budget proposal, followed by the U.S Treasury’s release of the General Explanations of the Administrations Fiscal Year 2025 Revenue Proposals, commonly known as the Green Book, which includes a 256-page explanation of the…