Taxes

getty You’re a small business owner. What are you more constantly thinking about? Sales or profits? Both are critical. One provides the lifeblood to your business. The other provides the lifeblood to your, well, living. It’s a tough decision. If you’re like most small business owners, this is a constant pushmi-pullyu struggle. But something more

Loren Ponds Courtesy of Loren Ponds Miller & Chevalier Chtd. member Loren Ponds shares her journey from Georgetown University Law Center to the OECD to Capitol Hill, where she worked on the 2017 tax law, and what she learned along the way. ADVERTISEMENT This post has been edited for length and clarity. Nana Ama Sarfo: Thanks

getty Congress has finally agreed on a COVID relief package. It is the first significant stimulus action from Congress since the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act was signed into law in March of 2020. There hasn’t been a vote yet, but votes are expected today (December 21, 2020) in

             Well it’s like an early Christmas morning, racing down the stairs to see what tax relief presents Santa has left everyone. There are lots of gifts for everyone – businesses, individuals, charities and, especially for those who like their wine, spirits and beer (Santa is thoughtful).              A useful summary of all the tax provisions is is

The United States Capitol Building at night in Washington DC getty So you know how folks throw around adjectives and superlatives all of the time? And sometimes you just don’t believe them? If you hear anyone describing the latest stimulus bill from Congress as “huge” or “giant” or even “ginormous,” believe them. It’s so large

WASHINGTON, DC – DECEMBER 20: Senate Minority Leader Chuck Schumer listens as Speaker of the House … [+] Nancy Pelosi speaks after the House and Senate finally came to an agreement on the coronavirus relief bill. (Photo by Tasos Katopodis/Getty Images) Getty Images The pandemic relief bill Congress is about to pass is loaded with

Close-up of Conservation easement with pen getty The Charitable Conservation Easement Program Integrity Actis back. We learn that from a press release issued by the Senate Finance Committee. Senator Grassley uses some pretty strong language. The conservation easement program is an important tool for protecting and preserving our environment. But bad-faith scammers have taken advantage of

As the details of the $900 billion Covid-19 relief bill emerge, city and other local leaders are slamming Congress for not including direct financial aid to state and local governments. Louisville Mayor Greg Fischer on Election Day, 2020. Fischer is calling upon Congress to include … [+] direct fiscal aid to cities who are on

The popularity of cryptocurrency has been on the rise for years. But 2020 has been a very special year with many more retail investors getting exposure to bitcoin during the COVID-19 lockdown, public companies like MicroStrategy MSTR , Square SQ , and Grayscale beefing up their bitcoin holdings, and major fintech companies like PayPal PYPL

Two railways tracks merge close up. getty For a taxpayer, it must be disappointing when the courts uphold your challenge to a state revenue agency auditor’s application of a regulation that resulted in an assessment for additional tax. Yet substantive challenges — including a taxpayer’s assertion that the auditor included transactions that are not taxable

PALM BAY, FLORIDA, UNITED STATES – 2020/12/08: People line up to receive food at the Share Your … [+] Christmas food distribution event. (Photo by Paul Hennessy/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images One of the major skirmishes in the months-long battle over the fate of a new pandemic relief bill is

Congressional Progressive Caucus members Rep. Pramila Jayapal, D-Wash., center, accompanied by Rep. … [+] Ilhan Omar, D-Minn., and Rep. Mark Pocan, D-Wis., speaks during a news conference on the targeted killing of Iran’s senior military commander Gen. Qassem Soleimani on Capitol Hill, in Washington, Wednesday, Jan. 8, 2020. (AP Photo/Jose Luis Magana) ASSOCIATED PRESS The

MT PLEASANT, WI – JUNE 28: U.S. President Donald Trump (C) breaks ground along with Wisconsin Gov. … [+] Scott Walker (L) and Foxconn CEO Terry Gou (R) at the 2018 groundbreaking for the highly subsidized Foxconn plant in Wisconsin. The project failed to meet job and development goals even with almost $4 billion in

WASHINGTON, DC – DECEMBER 16: House Majority Leader Steny Hoyer (D-MD) walks out of the House … [+] Chamber and talks to reporters at the U.S. Capitol on December 16, 2020 in Washington, DC. House Speaker Nancy Pelosi hosted a meeting as congressional negotiations on spending and economic relief legislation continued. (Photo by Tasos Katopodis/Getty

Economic Security Planning, Inc. Today’s column addresses questions about how income earned after filing can increase benefit rates, working and the earnings test while collecting a widow’s benefit and whether and how benefits can increase at FRA after withholdings due to the earnings test. Larry Kotlikoff is a Professor of Economics at Boston University and

Words TAX COURT composed of wooden letters. Statue Themis and judge’s gavel in the background. getty Lew Taishoff’s nomination for best Tax Court decision of 2020 is Oakbrook Land Holdings 154 TC 10. We need to take Mr. Taishoff’s opinion very seriously. He covers the Tax Court with incredible intensity. He may have a break this holiday season

A string of taxpayer victories in Conservation Easement cases has many taxpayers who have sponsored or invested in these transactions re-thinking whether settling pending tax court litigation is a good idea, after all. The Eleventh Circuit’s decision in Pine Mountain Preserve, LLLP v. Commissioner, coupled with recent Tax Court decisions in Kissling v. Commissioner and Rajagopalan

TOPSHOT – EDITORS NOTE: Graphic content / Bodies wrapped in plastic line the walls inside a … [+] refrigerated trailer used as a mobile morgue by the El Paso County Medical Examiner’s office in El Paso, Texas on November 13, 2020. – Due to a recent spike in coronavirus deaths, El Paso County officials have

Economic Security Planning, Inc. Today’s column addresses questions about whether stopping work years before filing will reduce retirement benefits, effects of an ex filing on a spouse’s record, disability benefits converting to retirement benefit and the Government Pension Offset. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of

Hand holds documents Captive insurance about insurance. getty The Supreme Court rarely hears tax cases which makes the recent oral arguments in CIC Services v IRS exciting. That is about all that makes them exciting to ordinary mortals as what was going on at the Supreme Court was an argument about whether they could have