Stephen Fishman
J.D. · USC Gould School of Law
Termination of Business Partnerships: Legal and Tax Aspects
Learn how a general partnership dissolves and what to do when ending yours. ... READ MORE
Business Continuity: What Happens When an Owner Leaves the Business?
Decide in advance what will happen to your business if an owner dies, becomes disabled, goes bankrupt, gets divorced, retires, or otherwise decides to leave. ... READ MORE
Employment Taxes for Farm or Agricultural Workers
If you own a farm and hire workers, you're probably an "employer" and need to understand your employment tax responsibilities. ... READ MORE
Your Tax Return Filing Status After Divorce
The filing status you choose after divorce can save you money or cost you money in the form of lost deductions and credits. ... READ MORE
Tax Deductions for Research and Experimental (R & D) Costs
The R&D deduction is available to even the smallest one-person business. ... READ MORE
What You Should Know About Net Operating Loss Rules
The IRS allows you to use your losses against your income in future or past years for federal tax purposes. ... READ MORE
Tax Deduction for a Net Operating Loss (NOL)
Figuring out how much you can deduct for an NOL is complicated. But your potential tax savings makes it worth the time to learn how it works. ... READ MORE
Tax Deductions for Employee Lodging
Many employers and employees have work-related expenses. The economics of the matter are simple: The more you have to spend on expenses means less profit for the employer and less take-home pay for the worker. It's not all a loss, though. The federal tax code gives some relief for a number of business ... READ MORE
Constructive Receipt of Income under Cash Basis
If you use the cash basis method of accounting, you include items on income in the years in which they are received. The term "received" includes actual receipt and constructive receipt. Constructive receipt is when you're legally entitled to receive income. This concept applies to various types of income ... READ MORE
Treatment of Advance Income Under the Accrual Method
Under an accrual method of accounting, generally you report income in the year it is earned. The right to receive, not actual receipt, triggers the inclusion of an item in income under accrual-basis accounting. Typically, you include an amount as gross income for the tax year in which all events that ... READ MORE