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March 2016 Archives

Business losses: Can you deduct them against other income?

Every so often the tax court rules on a case with interesting facts. The distinction between a business and a hobby is often the topic in these cases. A business loss can be deducted, but a hobby loss cannot. Get this wrong and you could owe a large tax bill.

Bad publicity continues for pharma exec with tax lien

The bad press went viral last September – Turing Pharmaceuticals had increased the price of a drug called Daraprim by 5,000 percent. The drug, used to treat malaria and toxoplasmosis, had cost $13.50 before Turing bought it. After the acquisition, patients who often need to take it daily have had to pay $750 per pill.

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