On July 4, President Trump signed into law the One Big Beautiful Bill Act (Bill), which was approved by the Senate and House earlier in the week. The 870 page-bill covers nearly every sector of the American economy, and...more
7/10/2025
/ Business Taxes ,
Energy Tax Incentives ,
Estate Planning ,
Estate Tax ,
Exempt Organizations ,
Federal Budget ,
Income Taxes ,
International Tax Issues ,
New Legislation ,
One Big Beautiful Bill Act ,
Qualified Business Income ,
Tax Credits ,
Tax Reform ,
Trump Administration
On Wednesday, May 28, the U.S. Tax Court ruled in Soroban Capital Partners LP v. Commissioner that a "functional analysis" test applies when determining whether a limited partner who contributes services to a partnership may...more
As a general rule, a corporation is considered a separate entity from its owner(s). There are a few cases in which a corporate entity is disregarded as an entity separate from its owners, such as when a corporation is set up...more
In general, tax experts were pleased that the Build Back Better Act, passed recently by the U.S. House of Representatives, did not include many of the tax increases previously proposed by the Biden Administration. ...more
12/7/2021
/ Corporate Sales Transactions ,
Income Taxes ,
IRS ,
Legislative Agendas ,
Net Investment Income ,
NIIT ,
Partnerships ,
Pending Legislation ,
Regulatory Agenda ,
S-Corporation ,
Tax Liability ,
Tax Planning ,
Tax Reform