News & Analysis as of

Tax Planning Business Losses

Barnea Jaffa Lande & Co.

New Israeli Court Ruling on Artificial Transactions

A recent court ruling in the Shalam Packaging Products Group case addressed claims made by the Netanya tax assessor. The assessor argued the group executed a restructuring solely to reduce its tax liabilities by offsetting...more

Foster Garvey PC

A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part IV – Suspended...

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This fourth installment of my multi-part series on Subchapter S is focused on suspended losses of an S corporation. While the rules seem straightforward, their application can be tricky, especially given legislative changes...more

Rivkin Radler LLP

Partnership Losses But No Outside Basis? Too Bad

Rivkin Radler LLP on

Losses Weren’t Always Bad- Most tax advisers are aware that, prior to the Tax Reform Act of 1986 (the “TRA”),[i] the Code placed few limitations on the ability of an individual taxpayer to use deductions from a particular...more

Williams Mullen

[Event] Hampton Roads Spring Tax Forum - May 17th, Norfolk, VA

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Join our seasoned tax and estate planning attorneys on Wednesday, May 17th in Norfolk for the Williams Mullen Spring Tax Forum. Breakfast will be provided. This program will dig into complex private equity structures, how...more

Freeman Law

Donkeys and Taxes

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Hobby Loss or Business Loss Tax Deduction - It’s not every day that a case comes through the Tax Court centered on the taxation of miniature donkey breeding. But the recent case of Huff v. Commissioner was focused on just...more

Kohrman Jackson & Krantz LLP

2021 Tax Changes For Businesses: The Not So Good, The Bad And The Ugly

As small and mid-size business owners move toward the federal tax filing deadline in this new year, they need to be aware of certain changes in the federal income tax area. A short listing of the highlights (more...more

Foster Garvey PC

House of Representatives 5376: Current Tax Legislation Pending in the U.S. House of Representatives

Foster Garvey PC on

...The federal tax laws are certainly about to change. With the need to raise revenue as a top priority for the Biden Administration, everyone is expecting dramatic changes to the Internal Revenue Code. Tax legislation is...more

Akerman LLP - SALT Insights

Lights! Camera! Action! Shuttered Venue Operators Grants (SVOG) Takes Center Stage on April 8

On April 8, The Small Business Administration (SBA) finally opens its Shuttered Venue Operators Grant (SVOG) program, which was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, as part...more

Williams Mullen

[Webinar] COVID-19 Comeback Convention - December 3rd, 8:30 am - 11:00 am ET

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Insights and Ideas to Expedite Your Business Recovery in 2021 - Join us for the COVID-19 Comeback Convention, a virtual convention comprised of brief presentations tailored to meet the needs of senior executives and...more

Bowditch & Dewey

How Can a Craft Brewer Use the Tax Code to Help with Cash Flow?

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Breweries can turn to the Internal Revenue Code to help with cash flow in these difficult times. Section 165(i) of the Internal Revenue Code allows a taxpayer to deduct any loss occurring in a “disaster area” and attributable...more

Morgan Lewis

Beware of Debtor Tax Traps in Restructuring and Bankruptcy

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The economic outcome from the coronavirus (COVID-19) pandemic is still uncertain but is likely to remain catastrophic in many respects. Of late popular name brands and companies have filed for bankruptcy as stay-at-home...more

Morgan Lewis

Captive Insurance Opportunities and Solutions Post-COVID-19

Morgan Lewis on

Companies with coronavirus (COVID-19)-related losses and legacy liabilities may appreciate significant additional tax benefits from funding those legacy liabilities through a captive insurer before the end of this year. ...more

McDermott Will & Emery

[Webinar] Virtual Tax Forum | Tax Strategies in the COVID-19 Economic Downturn: Loss Planning and Transfer Pricing - May 1st, 1:00...

McDermott Will & Emery on

As you assess the operational impact of COVID-19 on your business, you may need to reconsider your tax planning strategies. Join us for a discussion on tax planning opportunities and pitfalls in light of market valuation...more

Burr & Forman

Congress Retroactively Removes Limits on Excess Business Losses in CARES Act Affected Taxpayers Should Apply for 2018 and 2019...

Burr & Forman on

While the Coronavirus has delayed tax season by a few months, Congress’s response may have created the first ever refund season in the recently passed and much discussed relief package known as the Coronavirus Aid, Relief,...more

Goodwin

Business And Individual Income Tax Provisions Of The Cares Act

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On Friday, March 27, Congress passed, and the President signed, the bipartisan “Coronavirus Aid, Relief, and Economic Security Act” (the “Act”), a $2 trillion economic stimulus plan to provide funding and tax relief to...more

Jackson Walker

The CARES Act: Tax Relief and Incentives

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Friday, March 27th, the President signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act. The CARES Act contains significant tax relief for individuals and businesses. Below are the tax highlights....more

Snell & Wilmer

The CARES Act Includes Many Tax Incentives for Employers - Charitable Contribution Modifications

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On Friday, March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136) into law. Among the numerous provisions of the Act intended to provide economic relief to...more

Lowndes

$2.2 Trillion Stimulus Bill Includes Big Benefit For Real Estate Investors and Other Taxpayers With Excess Business Losses

Lowndes on

The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act was passed by Congress and is expected to be signed into law by President Trump. This $2.2 trillion stimulus bill contains an important tax benefit that so...more

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