Basis Limits for Partnerships and S Corporations – The Burns Firm

Business Owners Beware of the Limits on Deducting Losses

January 14th, 2025|Categories: Accountant, Bookkeeping for Business, Burns Firm, Business, Business Deductions, Business Expense Deductions, Business Travel Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Expenses, Meals & Entertainment Deductions, Partnership, S Corporation, Services, Small Business, Tax, tax accountant, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: Basis Limits for Partnerships and S Corporations, business deductions, Business Expense Deductions, cpa near me, Dallas CPA, Deducting Losses for your Business, tax accountant, tax advisor, The Burns Firm|

Even successful businesses occasionally incur losses. Start-ups and expanding businesses often have unprofitable years, and unexpected events like pandemics can knock companies that have been financially healthy for years for [...]