by mariettacp | Jan 10, 2011 | Money Tips, Tax Planning, Tax Preparation
Increase your basis in a partnership or S corporation if doing so will enable you to deduct a loss from it for this year. A partner’s share of partnership losses is deductible only to the extent of his partnership basis as of the end of the partnership year in...
by mariettacp | Nov 22, 2010 | Money Tips, Tax Planning, Tax Preparation
When starting a business or changing your business structure, a key aspect to consider is the Small Business Job Act and how it shortens the holding period of assets. S corporation holding period for appreciated assets shortened to five years. Generally, a C...
