From Social Security Reform to Disaster Relief, Here’s What Passed and What’s Next December was a pivotal month for tax legislation. While Congress narrowly avoided a government shutdown, several impactful tax-related bills were passed before closing out the 118th legislative
Cottonwood Place, LLC case highlights strict adherence to IRS perpetuity regulations for conservation easements. In a pivotal case, the Tax Court has denied Cottonwood Place, LLC’s charitable deduction for a conservation easement donation. The court found that the conservation purpose
A religious organization faces hurdles in obtaining tax exemption due to its use of a controlled substance, Ayahuasca. The Ayahuasca Church of Healing, an Iowa-based religious group, has been at the center of a five-year legal battle after the IRS
Maximizing Savings and Ensuring Compliance Business travel can be an essential part of running a successful business, whether it’s attending client meetings, conferences, or industry events. The IRS allows businesses to deduct travel expenses incurred while conducting business activities away
Navigating the Complexities of Crypto Taxes with Expert Guidance Cryptocurrency trading has grown in popularity, bringing a slew of tax issues. The decentralized structure of cryptocurrency complicates tax reporting and compliance. Understanding the tax implications of cryptocurrency trading is critical
What You Need to Know About the Capitalization and Amortization of R&D Costs Under the New IRS Regulations The new provisions in Section 174 of the Internal Revenue Code have led to significant changes that will affect businesses. These provisions