Even though the bill moving through Congress now that contains retroactive tax provisions passed the House quickly with a rare bi-partisan vote, it looks like the Senate is at a stand-still.

I’m coming across more and more “tax strategies” that are actually just “tax fraud”. Usually, these strategies implement a complicated or convoluted entity structure in order to lessen or avoid taxes altogether. These are not legal, and the reason is the Economic Substance Doctrine.

In the digital age, where social media doubles as a hub for financial advice, misconceptions about taxes and business structures are rampant. One prevalent myth is the notion that simply forming a Limited Liability Company (LLC) unlocks a treasure trove of previously unavailable tax deductions. Let's set the record straight.