The Willens Reportsm

Welcome - The Latest Willens Report

Absence Of Gross Receipts Does Not Bar Ordinary Loss Deduction
December 20, 2024
TP owned 100 percent of the stock of FS. As of December 31, Year 1, FS's balance sheet showed liabilities exceeding its total assets. FS's financial statements showed n...

"Robert Willens LLC is neither a registered investment advisor nor a broker/dealer. Subscribers and/or readers are advised that the information contained in The Willens Report is not to be construed or relied upon as investment, tax planning, accounting and/or legal advice, nor is it to be construed in any way as a recommendation to buy, hold or sell (short or otherwise) any security or any other form of investment. All opinions, analyses and information contained herein is based upon sources believed to be reliable and is written in good faith, but no representation or warranty of any kind, express or implied, is made herein concerning any investment, tax, accounting and/or legal matter or the accuracy, completeness, correctness, timeliness and/or appropriateness of any of the information contained herein. Subscribers and/or readers are further advised that the Company does not necessarily update the information and/or opinions set forth in this and/or any subsequent edition of The Willens Report or any version thereof. Readers are urged to consult with their own independent professional advisors with respect to any matter analyzed herein. All information contained herein and/or this website should be independently verified."

 

Recent Reports

I.R.S. Revokes A Fifteen-Year Old Private Letter Ruling
December 20, 2024
LTR 200923001, February 26, 2009, addresses the case of "Entity A," a domestic corporation that elected to be taxed as a real estate investment trust, ("REIT&quo...
Taxpayer Was Not A "Marijuana Establishment"
December 20, 2024
Respondent states that Petitioner, ("P"), is a retailer for both adult use and medical marijuana; and was licensed to sell adult use marijuana as of July 2020.<...
Providing Services As An Employee Does Not Constitute A Business
December 20, 2024
TPs were in the insurance business. TPs formed RHCin 1977 to start their own insurance business. Later, TPs purchased BRI in 1979. TPs were the sole owners of RHC and BRI...
When Is Option Compensation Deductible?
December 19, 2024
1. On January 1, 2003, E began employment with M and is granted a nonstatutory option to purchase a number of shares of M common stock. The option is not exercisable until Janu...