The rules for reporting the income and expenses associated with a “hobby” or “pastime” is dependent upon whether or not the activity has the genuine purpose of making a profit. The Herb Vest case is an interesting Tax Court Memorandum…
Taking advantage of tax incentives makes good sense for businesses. One reason a business owner should use tax incentives is to help underwrite the cost of maintaining its existing customer base, while continually striving to increase it. Whether a sole…
Now that we’re well into the New Year, taxpayers should know 2017’s inflation adjustments for several tax provisions set forth in Rev. Proc. 2016-55. These adjustments apply to tax years beginning in 2017 and transactions or events occurring during the 2017…
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