Shareholders must keep thorough and accurate records to support their stock basis. (See Treas. Reg. § 1.6001-1(a) and they are...

When a business fails or stock becomes worthless, investors take losses in the shape of capital losses, which, as we all know,  have...

Many S Corp owners mistakenly pay their business expenses out of their own pockets. Can they still deduct those expenses even though they...