In Lindsay Manor Nursing Home, Inc. v. Commissioner, 148 T.C. No. 9 (Mar. 23, 2017), where a corporate taxpayer sought release from a proposed levy because it would create an economic hardship, the Tax Court concluded that limiting economic hardship relief to individuals is a permissible interpretation of the statute. [...]
Generally, the first step in setting up a business is the choice of entity. While state laws govern the formation of entities, Federal law dictates the treatment of entities for Federal tax purposes. Additional considerations should be liability, control, and exit strategy. The most common entity types are: Sole Proprietorship [...]
Non-Disclosure Agreements (NDA), also known as confidentiality agreements, are used to protect a business's proprietary information. An NDA is a legally binding contract between a business and another party who agree to keep specific information, such as patents, recipes, marketing research and trade secrets, confidential. The definition in the NDA [...]
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