How to Identify Physical Injury from Vague Settlement Agreements

Business owners and independent contractors sometimes receive legal settlements to resolve disputes. While most settlement proceeds must be reported as taxable income, payments for physical injuries or physical sickness can be excluded under specific sections of the tax code. This exemption can significantly impact the amount of tax due. The tax consequences focus on the……

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When Do Online Business Reviews Cross the Line into Defamation?

Business owners today operate in a world where online reviews can significantly impact their reputation and bottom line. A single negative review can reach thousands of potential customers within hours. But when does a negative review cross the line from protected consumer speech into actionable defamation? What specific statements in a review might expose customers……

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Are Energy Investment Tax Credits Subject to Passive Activity Rules?

There are a number of benefits for investing in renewable energy projects. The energy investment tax credits is one such benefit. Given the specialized nature of energy projects, these tax credits are often sold to taxpayers as investments by firms that organize and operate these investments. After making the investment and receiving allocation notices from……

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When Can Courts Declare Someone a Vexatious Litigant? Texas Law Sets the Bar

Have you ever dealt with someone who seems to file lawsuits as a hobby? Perhaps you’ve heard stories about individuals who repeatedly sue businesses despite consistently losing their cases. For businesses facing such situations, defending against multiple meritless lawsuits can be financially draining and time-consuming. Fortunately, Texas law provides a mechanism to address this problem……

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Can Self-Employed Taxpayers Deduct the Value of Their Own Time?

Small business owners and self-employed professionals often spend countless hours developing products, services, or processes that enhance their business operations. A construction contractor might spend weekends designing custom software to track job costs. An engineer might devote evenings to developing a proprietary modeling program. In these situations, many entrepreneurs wonder: if they had hired someone……

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