If you’re just joining us, the first three parts in this series summarized the Code Section 1244 rules and explained what happens when investors sell their shares or they become worthless. Investors aren’t limited to the usual capital-loss deduction of no more than $3,000. Instead, they can claim ordinary-loss deductions
While 2020 was a difficult year for many, it was not without its bright spots. Among them was that levels of charitable giving in the United States broke records, up 5.1 percent from 2019 for an annual total of $471.44 billion. Plus, three of the four major sources of giving grew
The good news for women in accounting is that 42 percent of CPAs in U.S. firms are women, so efforts focused on retention and advancement could result in meaningful change in the next few years. Business ownership in the United States is changing, and that is great news for women.
Much has been made of the projected scarcity of certified public accountants (CPAs), and for good reason. The National Association of State Boards of Accountancy reports that 95,654 candidates took the Uniform CPA Examination in 2017. By 2019, that number was down to barely 83,000, with 2018 reflecting a 10-year low in new CPA candidates.
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. Are you ready for tax season? Taxes for entrepreneurs are notoriously complicated, especially
Downloading data and documents from Dext and QuickBooks Online and archiving them as part of the shutdown process can lead to unexpected surprises, as I found recently working with a business client. Specifically, as part of the process of winding things down with my client’s business, I am cancelling her
When is a vacation rental not classified as residential real estate? When it’s a short-term rental leased out for less than 30 days at a time, it’s recognized as nonresidential real property and therefore subject to a 39-year depreciation period, not residential real estate’s 27.5-year depreciation period. But since Sec. 179(b)(3) excludes property
Although all sales transactions are presumed taxable in states with a sales tax (unless there’s a specific exemption or exclusion), most states haven’t yet clarified which sales tax laws apply to sales made in the metaverse. When will they start? And how will they go about it? David Lingerfelt, senior
What does your firm spend on technology? Do you get the return on investment you expect? Is your technology up to date? Are you focused on maintenance or innovation? The answers to these questions are often subjective in firms with multiple partners. In other words, different people have different value
If you’re just joining in, I recommend that you read the first part in this series. There, I summarize the Section 1244 rules and explain how these rules can affect investors. This article, part two, will focus on additional aspects of the rules. In the year that 1244 shares are
