Harvard University’s tax-exempt status has been questioned by the Trump Administration—with Harvard responding that there is no legal basis for a revocation. The Administration’s action...
Many states are implementing energy benchmarking programs to track and identify energy use in buildings. These programs aim to encourage energy efficiency and reduce greenhouse gas emissions. Check out...
When engaging in M&A discussions, parties should prioritize rigorous confidentiality measures to protect sensitive business information. Our new confidentiality agreement playbook offers valuable insights...
This practice note discusses Institutional Review Boards (IRBs) within the United States, including their purpose, history, and regulatory framework. The note is a valuable resource for advising life sciences...
Do you need guidance on tipped employee requirements under the Fair Labor Standards Act (FLSA)? Read our newly published checklist, Tipped Employees Checklist (FLSA) , for helpful information. Read now...
S corporations allow small business owners to enjoy the limited liability and other advantages afforded by corporations while, at the same time, obtaining the flow-through benefits of partnerships or sole proprietorships. However, the tax treatment of S corporations is governed by subchapter S of the Internal Revenue Code (IRC) and has some significant differences from partnerships and limited liability companies. There are two primary limitations on the ability of S Corporation shareholders to deduct losses that pass through from the entity: (1) basis limitations, and (2) the at-risk amount limitations.
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