Section 1202 of the Internal Revenue Code provides that noncorporate taxpayers may exclude certain gains on the disposition of Qualified Small Business Stock (QSBS) held longer than the minimum required holding period. One...more
7/21/2025
/ Capital Gains ,
Conversion ,
Corporate Taxes ,
Exclusions ,
Internal Revenue Code (IRC) ,
Mergers ,
Partnerships ,
Qualified Small Business Stock ,
Small Business ,
Stock Transfer ,
Tax Benefits ,
Tax Deductions ,
Tax Planning ,
Taxation ,
Venture Capital
In a significant win for taxpayers, the U.S. Tax Court recently ruled in AbbVie Inc. v. Commissioner, Docket No. 2597-23, that a $1.6 billion "Break Fee" paid by AbbVie qualifies as an ordinary and necessary business expense...more
6/30/2025
/ AbbVie ,
Break-Up Fee ,
Capital Losses ,
Contract Disputes ,
Cooperation Agreement ,
Corporate Taxes ,
Fees ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Mergers ,
Tax Court ,
Tax Deductions ,
Tax Planning
Between wildfires such as the ones in Southern California earlier this year and hurricanes and other major storms experienced by other parts of the country annually, there is no shortage of natural disasters affecting people...more
4/18/2025
/ Estate Planning ,
Federal Taxes ,
Insurance Claims ,
Natural Disasters ,
Property Damage ,
Property Tax ,
Qualified Disaster Relief Payments ,
State Taxes ,
Tax Deductions ,
Tax Liability ,
Taxation ,
Time Extensions