For U.S. tax purposes, digital assets are considered property, not currency. A digital asset is stored electronically and can be bought, sold, owned, transferred, or traded. The tax definition of a digital...
Manufactured housing communities (MHCs), also commonly referred to as mobile home parks, continue to increase in popularity, while state and local regulations governing them also continue to expand. Read...
Parties come together to form joint ventures when all involved believe that they will have greater success working cooperatively on a specific project, product, or business than they would have if they...
Learn best practices for advocating on behalf of your FDA-regulated clients in light of the new legal paradigm introduced by the Supreme Court’s decisions in Loper Bright and Corner Post . Read...
Do you need to learn about potential legal and business risks stemming from the use of artificial intelligence (AI) tools to manage employee performance and make employment decisions (e.g., screening,...
According to data released by the Census Bureau, 2021 was a banner year for startups and sole proprietorships, with business filings increasing in states whose start-up success represents the highest number of new businesses on record, dating back to 2004, when the figures were first compiled. More business filings translate into an increased number of sole proprietorships and other Form 1040, Schedule C filers with tax questions. With the 2021 filing season upon us, let’s review the process by which tax practitioners liaise with their sole proprietor clients by reviewing the client/taxpayer engagement letter, the intake interview, and a comprehensive tax return checklist to help ensure that your sole proprietor clients submit the appropriate documents so you can prepare and file an accurate and timely tax return.
READ NOW »
Related Content
Practical Guidance UpdatesFeaturing the latest updates from your Practical Guidance account.
Experience results today with practical guidance, legal research, and data-driven insights—all in one place.Experience Lexis+