As the New Year dawns, We hope it is filled with the promises of a brighter tomorrow. Happy New Year!
We wish to express our sincere appreciation for your business, confidence, and loyalty. We are deeply thankful and extend to you our best wishes for a happy and healthy Holiday season.
If you generate a side income from a passion like cooking, woodworking or bookselling — or anything else — you should be aware of the tax implications of earning this money. These will vary depending on whether the activity is treated as a hobby or a business. The bottom line: The income generated by your […]
The IRS has reissued proposed partnership audit regulations, withdrawn earlier this year as part of the Trump administration’s regulatory freeze. The proposed Centralized Partnership Audit Regime regulations (Reg-136118-15) — reportedly identical to the withdrawn regulations — apply to partnership tax years starting after December 31, 2017. But partnerships can elect to apply them for partnership […]