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Current Developments in Partners and Partnerships
(TaxAdvisor) – This article reviews and analyzes recent rulings and decisions involving partnerships. The discussion covers developments in partnership formation, debt and income allocations, distributions, passive activity losses, and basis adjustments.
 
Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases
(Bloomberg) — President Barack Obama said he is “agnostic” about raising taxes on households making less than $250,000 as part of a broad effort to rein in the budget deficit.
 
Business Entertainment Deductions: Fun but Complex
(AP) – Taking a client out for lunch is one of the most basic business activities there is. And it’s one that can run a small business owner afoul of the IRS. There has been a tug of war for years between the government and businesses over entertainment expenses.
 
U.S. Watchdog: Bailout Funds Must Be Used to Help Commercial Real Estate
(Fox Business) – A government watchdog panel called on the Treasury Department and bank regulators to tackle continuing problems in commercial real estate more aggressively or risk jeopardizing recovery in the economic and financial systems.
 
Talk of Tax Hikes Grows Louder
(Stateline) – Election-year tax hikes are usually the last thing politicians want to consider, but that’s just what officials in Arizona, Pennsylvania and Washington state are talking about this week.

カテゴリー : News Update

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