Recent court rulings and tax reform legislation has an impact on family office expense deduction. The lack of definition and bright-line test determining “trade or business activities” means that we must carefully consider the distinct ...
Category Archive: Accounting
On July 11, 2019, the IRS and Treasury released final regulations removing Section 1.451-5 of the Income Tax Regulations as a result of the changes made to Section 451 under the 2017 tax reform known ...