Did know that when you own more than one business, you need to consider the IRS’s “grouping” rules that apply for passive loss purposes?
At first glance, the need for this disclosure may cause you to groan. But it shouldn’t. You see there’s a useful audit-proofing aspect to this disclosure that can actually work for you!
You’ll get the details when you read our new article titled Tax Tips for Owners of Multiple Businesses. Don’t miss it!
Three ways our fact-filled article can help you:
- We’ll provide an overview of passive-loss rules. These can be tricky but we’ll simplify things for you when you read the full article.
- We’ll give you a quick introduction to “grouping” when you read the full article.
- We’ll explain why you should apply the new disclosure rules to your rentals, too. We recommend using the requirements of Revenue Procedure 2010-13 for all new and updated grouping disclosures of both rental properties and businesses. You’ll learn why when you read the full article.