PPP tax-exempt income and AAA

How is an S corporation’s accumulated adjustment account (“AAA”) impacted by forgiven PPP loan proceeds? The answer is not as easy as it first may seem.

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Enhancing Corporate Buy-Sell Planning with an Insurance Partnership

When using life insurance to fund the redemption of the stock of a deceased shareholder in a closely held corporation, structuring the ownership of the insurance is critical and, very often, using an “insurance partnership” can be advantageous.

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Unfavorable Discounting of Split Charitable Bequest

Chuck and Michael opine on Warne v. Commissioner, TC Memo 2021-17, a case that addressed, among other issues, an estate tax charitable deduction.

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New 2020 At-risk Rule Reporting Requirements

Learn about the tax basis capital account reporting requirements.

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Notice 2021-13 and Tax Capital Account Reporting

There are several provisos contained in Notice 2021-13, 2021-6 IRB 1 with regard to the penalty waivers.

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Final §1061 Regulations

Chuck and Michael highlight important changes to the final regulations under the business interest deduction limitations of §163(j).

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Title: Personal Goodwill in M&A Transactions: Business, Structuring and Tax Considerations


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