A common cross-border reorganization can doom eligibility for the valuable gain exclusion without thoughtful planning.

To encourage investment in solar energy (and other alternative energy sources), the Internal Revenue Code offers a credit to taxpayers who install solar energy equipment. Specifically, the taxpayer ...

This article discusses the step-transaction doctrine, the three tests used to determine if it applies, and advice for taxpayers to help avoid an IRS challenge of the tax treatment of a series of ...

Guide to expensing HVAC costs Heating, ventilation, and air conditioning (HVAC) replacement costs can be significant expenses for businesses that own or lease real estate. Find out about how to ...

This article focuses on the key tax and reporting areas applicable to revocable trusts and the associated planning and pitfalls that arise at the grantor’s death.

The M&A market is poised to regain its pre-COVID-19 activity levels as many business owners seek to exit closely held businesses or explore alternatives. One popular transaction that could emerge is ...

The Fifth Circuit’s decision in Grigsby, 86 F.4th 602 (5th Cir. 2023), emphasizes the need for taxpayers to clearly define business components when preparing and documenting their Sec. 41 credit.

Every fall, students all over the country set off to attend various colleges and universities. With the rising cost of higher education, many of these students are looking forward to receiving some ...

Once the exclusive province of large accounting and law firms, now even the smallest firms must master cross-border tax issues.

Understanding the rules for deducting losses on worthless securities is necessary to determine the correct timing of the loss deduction.

Closely held corporations must test whether the personal holding company tax applies and what measures to take to avoid it.

The impact of community property laws on tax issues is vast and complex. Advisers must be mindful of this when learning about their clients, whose geographical history may be as important to consider ...