Limits on a Partner’s Loss Deductions

As you are probably aware, one of the advantages of doing business as a partnership (or S corporation), as opposed to a regular corporation, is that the business losses “pass through” to the partners and can be deducted by them on their individual tax...

Benefiting from the Rehabilitation Credit in Altering or Adding to Business Space

Are you considering increasing your business space or moving your business location in the near future? If so, you should keep in mind the rehabilitation tax credit. In its most common form, the credit is equal to 10% of the qualified rehabilitation expenditures...

Is your worker an independent contractor or an employee?

The question of whether a worker is an independent contractor or employee for federal income and employment tax purposes is a complex one. It is intensely factual, and the stakes can be very high. If a worker is an employee, the company must withhold federal income...