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Lesson From The Tax Court: Tax Consequence For Discharge Of Non-Recourse Debt

(TaxProf Blog) - We learn that discharge of non-recourse debt as a result of a property sale cannot generate DOI income (and thus cannot qualify for exclusion under §108) but must instead be used in calculating gain from the sale.



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Defining a Trade or Business under Federal Tax Law A Practical Blueprint for Long Overdue Guidance 
(The CPA Journal) - Unlike many important terms that are defined either in the IRC or Treasury Regulations, the term “trade or business,” which comes up throughout the IRC…


At 101 Years Old, I’m the ‘World’s Oldest Practicing Doctor’ 
(CNBC) - I’ve been a practicing doctor and neurologist for more than seven decades. And at 101 years old, people often ask me how I keep my brain sharp. Good genes and a bit of luck can give you a head start, but...


AI Tax Tech That Sniffs Out Tax Evasion Gets $12.5M in Funding 
(CPA Practice Advisor) - The system is currently used by major tax agencies around the world, including the Internal Revenue Service's Criminal Investigation Division and multiple states' tax authorities in the U.S.


I Tried It: Working Aboard an Amtrak Train 
(PC Mag) - I took a train up the East Coast to find out how Amtrak's free in-cabin internet works and if it's reliable enough to mix work and pleasure.


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That's why, since 2003, we've used the unprecedented power of the cloud to put you back in full control of your accounting and payroll services so you can best serve your clients, while raising your own firm's value and relevance. And we never sell our products or services directly to your clients.

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