Can a partnership make a gift to an individual?
Spouses may not file a joint gift tax return. Each individual is responsible for his or her own Form 709. If a trust, estate, partnership, or corporation ...
Published: Apr 16, 2026
Is there any limitation to file partition suit?
According to the Limitation Act, the limitation period to file a partition suit is 12 years (Article 65 of the Limitation Act). The period of such 12 year...
Published: Apr 16, 2026
Who gets the accounts receivable when selling a business?
For many business sales, the buyer receives the receivable accounts. Service businesses such as doctor’s practices or heating and air conditioning compani...
Published: Apr 16, 2026
Do you file taxes for each LLC?
Multi-member LLCs are treated as pass-through entities for federal income tax purposes. Similar to the single-member LLC, this means that the LLC doesn’t ...
Published: Apr 16, 2026
Does section 1244 apply to LLCs?
Under IRC Sec. 1244, losses on the sale or worthlessness of stock in certain C and S corporations are treated, to a certain extent, as ordinary losses. Be...
Published: Apr 16, 2026
What is a Section 42 tax credit?
The Section 42 housing program refers to that section of the Internal Revenue Tax Code which provides tax credits to investors who build affordable housin...
Published: Apr 16, 2026
Can investment property be written off?
Except in certain circumstances, the IRS does not allow you to deduct the full cost of your investment in the first year. Instead, you must amortize your ...
Published: Apr 16, 2026
Do unemployment claims expire?
We know that unemployment insurance benefits are an essential lifeline — especially during difficult times. Regular unemployment insurance (UI) claims exp...
Published: Apr 16, 2026
Who is eligible for double lung transplant?
In general, you must be physiologically 60 years of age or less for bilateral lung transplantation and 65 years of age or less for single lung transplanta...
Published: Apr 16, 2026
How do you charge sales tax to customers?
* In California, state, county, and city taxes are based on the origin, but district taxes are based on the customer’s location. This is the only state wi...
Published: Apr 16, 2026
