Tips on How to Handle Setbacks

Entrepreneurs!  When starting a business, you may experience many setbacks.  But don’t let those setbacks pile up to eventually become failures that beat you down enough to want to give up. Reaching success does not guarantee you will not fail along the way.  It means that you

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Anti-Inversion Proposals Put 42,000 U.S. Jobs at Risk of Going Overseas

Congressional and administrative proposals are failing to address the underlying incentives driving inversions and therefore, putting 42,000 U.S. jobs at risk of going overseas, according to new research from the American Action Forum (AAF), a center-right think tank. The AAF study, released on September 4, also found

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Court Denies Basis To Partners For Contributions of Notes, But Waives Penalties

The Tax Court has denied basis to individuals who contributed unfunded, unsecured notes to a partnership and claimed basis for the amounts on the notes. As a result, the partners’ bases in their partnership interests were too low for them to claim greater pass-through losses on their

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Chief Counsel on What Makes Amounts Paid To “Limited Partners” of an LLC Subject To Self-Employment Taxes

IRS Chief Counsel (CCA 201436049) has concluded that so-called limited partners of an investment management firm were not limited partners of the firm (a limited liability company (LLC) treated as a partnership) and were being paid compensation for services. Therefore, the amounts they received from the firm

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Health Care Tax Tip for The Individual Shared Responsibility Payment (Affordable Care Act)

The Individual Shared Responsibility Payment Beginning in 2014, the individual shared responsibility provision of the Affordable Care Act requires each individual to:  Maintain a minimum level of health care coverage – known as minimum essential coverage , or Qualify for an exemption , or Make an individual

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