Tax

Currently, a foreign-owned US disregarded entity generally owes no US tax reporting unless the entity is engaged in a US trade or business or has certain types of US-source income. However, such a disregarded entity can disguise its owners, allowing for abuses like tax evasion....

Flow-Through Taxation A flow-through entity is a legally designated entity type that allows business income to flow from the business to the business owners in the form of taxable income. The entity itself is not taxed and any business losses incurred or income earned is treated...

Starting a nonprofit organization may seem like a challenging prospect, but knowing the proper forms to file and legal measures to take can make the experience less daunting.Charitable nonprofits typically strive to be tax exempt under section 501(c)(3) of the federal Internal Revenue Code (IRC)....

State-legal marijuana businesses operate in a twilight zone: Legal for state purposes, but illegal for federal. In this gray zone, many tax traps hide, waiting for the unwary. This article will help make you a little more wary.Let’s begin by looking at marijuana businesses from...

While day-to-day activities of a business usually consume most of a business owner’s time, planning for how the business will be passed on is also important. With good planning and proper structuring, business succession can be accomplished, while simultaneously providing benefits to both business owners...

The omnibus spending legislation (Consolidated Appropriations Act of 2016) enacted on December 18, 2015 includes a five year extension of the investment tax credit (“ITC”) for solar and an extension for the production tax credit for wind power generation. This action provides hope that someone...

As we approach the end of the year, C-corporations should think about shifting income and deductions between 2015 and 2016. Usually, C-corporations can benefit from a tax perspective by deferring and accelerating income and deductions. The following briefly discusses some situations in which acceleration and...

It is the dream of many a tax advisor to obtain for a client indefinite deferral—a state where income is built up, but the tax burden on that income is never recognized. Many sophisticated international tax structures try to create such deferral for U.S. tax...

X