Special Industries

Tax pitfalls of owning a marijuana business

Essentially, for federal tax purposes, marijuana businesses pay income taxes on their gross profit instead of their net income because below-the- line deductions are not allowed.

Evolving Trends in Captive Insurance

Recent tax developments relating to captive insurance companies present potential new opportunities for some captive arrangements while raising caution about others. This item highlights current, practical considerations regarding qualification of a captive as an insurance company for federal income tax purposes.

Newsletter Articles

TECHNOLOGY

2018 tax software survey

Among CPA tax preparers, tax return preparation software generates often extensive and ardent discussion. To get through the rigors of tax season, they depend on their tax preparation software. Here’s how they rate the leading professional products.

DEDUCTIONS

Qualified business income deduction regs. and other guidance issued

The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses.