Tax Warrior Chronicles

CAUTION: Restructuring Your Debt May Create Cancellation of Debt Income

Posted on Wed, Dec 09, 2020

By: Kyle Propsner, CPA, and Nastassja Markham Coletta, JD, LLM

 

Are you a business owner exploring new borrowings or the restructuring of current debt as a pathway to satisfy cash needs? Current economic conditions may present an opportunity to secure new borrowings at a discount or modify current debt with relaxed covenants, yields, terms, or rates. To avoid unforeseen tax consequences while restructuring debt, you should understand the various ways a debt instrument can be modified and the potential tax implications.

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Cash Flow Forecasting and Finding Liquidity During the Pandemic

Posted on Thu, Oct 22, 2020

As leaders across the world work continuously to combat the ongoing COVID-19 pandemic, so must business owners of all sizes, industries, and geographic locations. Throughout 2020, the business world and global economy has swiftly transitioned from a period of growth to that of great operational and informational uncertainty.

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Opportunities to Increase Cash Flow from 2018–2020 Business Losses

Posted on Wed, Apr 22, 2020

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides relief to taxpayers with net operating losses (“NOLs”) and excess business losses (“EBLs”) arising in taxable years 2018 to 2020.  The IRS recently issued guidance related to the new NOLs rules under the CARES Act, which are favorable to taxpayers seeking such relief.

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VLOG - Tax Tips for Law Firm Partners

Posted on Mon, Jan 27, 2020

By: Irina Moyseyenko, CPA, MT

 

In our first vlog of 2020, Irina Moyseyenko, CPA, MT, gives three (3) important tax and cash-flow planning tips for newly dubbed law firm partners.  The way you are now paid is different and you need to plan accordingly. Click on the image to view. 

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IRS Tax Credit Helps Pay for R&D

Posted on Mon, Jul 28, 2014

In today’s competitive business environment, organizations are constantly changing their products to meet their customers’ demands.  The process can be costly.  Developing software, training staff, refitting machinery, testing ideas and securing new supplies are all part of the process.

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