Earnings and Profits (E&P) in tax law represent a corporation’s capacity to distribute dividends to its shareholders, distinct from taxable income. E&P reflects the true economic ability of a company to pay dividends taxed as ordinary income.
The Half-Year Convention in tax law assumes that an asset acquired at any point during the taxable year was placed in service halfway through the year.
An in-depth look at proprietorship income, emphasizing the tax implications for income earned in businesses that are sole proprietorships, which are owned by a single individual and are not incorporated.
Comprehensive coverage of SUBCHAPTER J of the Internal Revenue Code, dealing with tax regulations for estates, trusts, beneficiaries, and decedents.
Understanding wash transactions, their mechanics, tax implications, and legal considerations.
