Taxable Income Archives - Page 14 of 19 - FREE Yourself from IRS Problems

Shamsey Oloko February 29, 2016 Civil Liabilities, Civil Penalties, Filing Status, Income, Tax Treaty, Taxable Income 0

Top Tax Cases Of 2015: Bhutta v. IRS – Treaties And How They Affect Income Of Foreign Nationals

Issue How can treaties between the United States and other countries affect the income of foreign nationals in the United States? Facts Bhutta, a citizen of Pakistan and a foreign medical school graduate, entered the United States in 2009 to…

Shamsey Oloko February 24, 2016 Business Expense, Business Expenses, Deductions, Expenses Deductions, Ordinary and Necessary Expenses, Taxable Income 0

Who qualifies as a real estate professional for tax purposes?

Issue Who qualifies as a real estate professional for tax purposes? More specifically, how does a taxpayer establish that he or she materially participate in rental activities, so that the rentals become non-passive, and any losses can be used without…

Shamsey Oloko February 23, 2016 Civil Liabilities, Debt Cancellation, Deductions, Income, Taxable Income 0

Relating to the allocation of partnership liabilities and the tax implication of a foreclosure

Issue What is the allocation of partnership liabilities and the tax implication of a foreclosure? Related Tax Rule or Regulation Internal Revenue Code Section 465 Internal Revenue Code Section 704 Internal Revenue Code Section 731 Internal Revenue Code Section 752…