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Archive by Month: March 2019

Tax Implications of Commingling Expenses from Different Businesses

Posted in News on March 29, 2019

For U.S. taxpayers who own multiple businesses, they must be wary of commingling expenses between the businesses. If one company is used to pay the other’s expenses, the tax consequences could be severe. This point is demonstrated by the recent IRS case of Key Carpets v. Commissioner. Read More

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