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 ...

This article focuses on the potential criminal consequences that can arise when a business fails to collect or pay over withheld tax.

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 ...

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

Editor: Albert B. Ellentuck, Esq. The death of a partner can have many federal income tax implications for the partnership, the partner’s heirs, the partner’s estate, and the partner’s final income ...

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

This article discusses what assets are treated as collectibles subject to the 28% rate, the netting process for collectibles gains and losses, how gains on the sale of collectibles are taxed, and ...