Client Letter: Inflation Reduction Act’s Individual, Small-Business Credits
Dear Client, The recently enacted Inflation Reduction Act of 2022 contains several new environment-related tax credits that are of interest …
Senate Bill Would Expand SEC Small Business Advocate’s Mandate to Include Rural Businesses
Sen. John Kennedy, a Louisiana Republican, on January 13, 2022, introduced a bipartisan measure that would broaden the mandate of …
House Bill Would Create New ‘Micro-Offering’ Exemption
The top Republican on the House Financial Services Committee on September 30, 2021, introduced legislation to create a new “micro-offering” …
Senate Democrats Release Details of $3.5 Billion Human Infrastructure Plan
In a memo to Democratic Senators, the Senate Budget Committee has released details of a $3.5 trillion FY2022 budget resolution, …
IRS Finalizes 199A Rental Real Estate Safe Harbor
In a Revenue Procedure and accompanying News Release (Rev Proc 2019-38, 2019-42 IRB; IR 2019-158, 9/24/2019), IRS has finalized a …
Business Expense Deductions Disallowed for Horseless Horse Activity
The Tax Court has determined that the IRS properly disallowed business expense deductions an individual taxpayer claimed for her horse …
Turning startup profits into 100% tax-free gain under the qualified small business stock rules
Successful startups can pay off big for those who get in on the ground floor, and the qualified small business …