New business venture?
If you are filing do business as a corporation, defining equity elections and dilution exposure often moves front and center. One often over-looked election – to protect against potential loss – is the 1244 election. This code section allows you to take an ordinary deduction for a loss of up to $100,000 (married, filing joint) on qualifying stock. If the company prospers, the tax protection is immaterial. However, if the company fails, without the election you’ll be looking at a capital loss limitation of $3,000 each year for a long time. Section 1244 treatment is only available to stock acquired under its original issuance. Back to Top Deducting international travel. You may deduct travel outside the United States even if you don’t spend your entire time on business. If you meet any of the following exceptions, travel expenses are fully deductible: 1) You were outside the United States no more than one week (7 consecutive days) 2) You were outside the United States and less than 25 pe
