ARTICLES

Understand how passive activity loss (PAL) rules affect LLC and LLP owners’ ability to deduct business losses, what counts as a passive activity, and when material participation lets losses offset other income.

Intangible assets require complex tax treatment. Know what costs must be capitalized, exceptions, and how to maximize tax benefits.

To deduct losses, you must prove your business is not a hobby. Profit intent must be shown through records, time, and expertise. Contact us

Draft partnership and LLC agreements to address key tax issues like guaranteed payments, partner liabilities, and retiree payouts. Read more