2024-08-15
About two years ago we published a chart called “Income Classification”. Today we updated this chart and renamed it to “Classification of Transactions”.
Often a question arises as to the classification of a transaction. For example, is a transfer of cash from a corporation to its shareholder a loan? A dividend? Compensation? Or something else? This chart shows court cases or other authorities discussing how to determine many of the different types of classifications.
Let us know if you think any other items should be included on the chart!
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The posts on this blog have not been verified for accuracy. You should consult an attorney for legal advice regarding your own situation. These posts are not updated for changes in the tax laws. Further, these posts should not be relied upon for any purpose whatsoever.
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