By: Amanda Wilson As more and more states are allowing for medical marijuana or other legal uses of marijuana, it is important to recognize that the federal government's treatment of marijuana as a controlled substance can have more than criminal...

By: Amanda Wilson For partnership, individuals and other types of taxpayers that are not in the business of making loans, the main avenue for tax relief when a loan goes bad is Section 166 - the bad debt deduction. In order to claim this deduction,...

By: Amanda Wilson Here is a brief article that goes into more detail than yesterday's post regarding the recent decision that impacts abandonment losses. The article can be found here.

By: Amanda Wilson Several years ago, many taxpayers faced with underwater partnerships would abandon their partnership interests, thereby triggering an ordinary loss. This ordinary loss was often preferred over the capital loss that would be...