Understanding Section 199 Deductions and the Importance of Accurate Allocations The Tax Court recently ruled against Bloomberg in two consolidated cases concerning how the company allocated gross receipts and expenses for subscription-based software products. The court also overturned certain IRS-denied
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 Guide to Saving for Retirement While Reducing Taxes for Low- and Moderate-Income Taxpayers Saving for retirement offers more than just future security. Low- and moderate-income taxpayers can now enjoy immediate benefits through the IRS Saver’s Credit. This tax credit
Missed the IRS 90-day petition deadline? The Tax Court says you may still have options! The Tax Court has ruled that the 90-day deadline for filing a petition to challenge an IRS employment tax determination is not a jurisdictional requirement.
Explore Key Tax Strategies and Benefits for Providers in Genetic Testing and Precision Medicine to Reduce Costs and Increase Savings. Personalized medicine is at the forefront of medical innovation, focusing on genetic testing and precision medicine to tailor treatment plans
A recent court decision highlights the strict eligibility criteria for the Research Tax Credit and the importance of accurate documentation and proof of innovation. In a recent tax case, the Supreme Court declined to hear a case centered around the
A Guide to Equipment Rentals, Technology Development, and Operational Costs: Maximizing Deductions and Minimizing Liabilities Event technology providers play a crucial role in ensuring the success of corporate meetings, live conferences, virtual events, and hybrid experiences. As the event industry
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
Maximize Tax Savings for Your Consulting Business: Deductions, Expenses, and Strategies for Financial Optimization As a professional organizational consultant, managing the financial aspects of your business is crucial to optimizing profitability and reducing your tax liability. Whether you work independently
Therapy Expenses and Maximizing Tax Efficiency: A Guide to Deductions and Compliance Art therapy combines creative expression with psychological healing. As an art therapist, understanding your tax obligations can help you minimize liability and maximize deductions. Here’s a straightforward guide