In some transactions, one participant manages to extract a disproportionate share of the economic benefit. When such a transaction is ….more

It is difficult to impose sales taxes on computer programs, and it is only getting more difficult as programs migrate to the “cloud:” how can a state tax delivery of a product when there is no delivery? ….more

Incorrectly classified workers can be a major liability for a going business – or can make an acquisition target much less attractive. The recently-decided Federal Express case….more

Congress has not had much recent success in passing legislation. As a result, the President has taken, or considered taking….more

In many cases it is a wonderful thing to have faith in one’s fellow human beings. Buying a business is not one of those cases…more

A business’s most precious asset is its goodwill. The government is therefore very interested in taxing goodwill’s value when it is transferred. As the Tax Court recently reminded the government, it can be difficult…more

Many actions a business takes have tax consequences in later years. Sometimes, by the time the consequences arrive, the business has a new owner. Anyone who is acquiring a business should …more

Most business mergers and acquisitions take place despite unresolved contingencies. Typically the “seller” agrees to indemnify the “buyer” for contingent or undisclosed costs relating to the period before the transaction. If the buyer doesn’t …more

When a taxpayer changes its accounting method, it usually has to make an adjustment to prevent double- or non-counting of the affected income or deduction item. It normally spreads any positive adjustment over four years. The IRS recently ruled…more

Individual income tax rates currently are higher than corporate tax rates, which means that S corporation income passed through to the corporation’s shareholders
incurs more current tax expense than does C corporation income. That has caused…more

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