Earlier this month, the IRS proposed regulations regarding the additional first-year depreciation deduction that was added to the Code by the Tax Cuts and Jobs Act (“TCJA”).[i] The proposed rules provide guidance that should be welcomed by those taxpayers that are considering the purchase of a closely held business or, perhaps, of an interest
Asset deal
When Tax Truths Collide: “Disappearing” Basis?
By Farrell Fritz P.C. on
Posted in Federal Tax Issues
How many times have you said to a client, “Please don’t agree to any deal terms until we’ve had a chance to discuss your goals and plans, consider your options, and analyze the consequences.”
How many times has a client presented you with a fully executed “letter of intent” – one that you’ve never seen…