On January 7, 2025, areas in and around Los Angeles County were affected by a series of catastrophic wildfires fueled by straight-line winds. In response, the White House issued a Major Disaster Declaration on January 8, 2025. Following this, on January 10, 2025, the Internal Revenue Service (IRS) ...
Partnership
When determining their tax reporting and compliance requirements, there are many factors that private equity firms must consider. Private equity firms are setup as tiered structures, generally with four levels: the portfolio investment level, the investor level, the fund level, and the fund manager ...
Accounting methods, whether general (like cash or accrual) or specialized (e.g., long-term contract methods), are pivotal for financial reporting. This guide provides a quick reference for the process of changing accounting methods, encompassing IRS consent, Form 3115 submission, and key ...
If you’re starting a new business, one of your earliest, and most important considerations is picking the legal entity that best suits your endeavor. There are a handful of options available, each of which comes with distinct compliance requirements, tax considerations, and overall levels of ...