2023 Tax Facts Individuals & Small Business

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Tax Facts on Individuals & Small Business is your complete source for tax information that relates to the types of tax implications most often faced by individual taxpayers and business owners.

Tax Facts on Individuals & Small Business is the professional’s complete, authoritative resource to help individual tax payers and business owners maximize opportunities under today’s often complex tax rules. Tax Facts helps advisers of all kinds understand the tax implications of the recommendations that they make for their clients. This publication features:

  • Thousands easy-to-read Q&As that comprehensively cover both individual tax issues and also tax issues that are most likely to be faced by small business owners
  • Practical advice for any professional, including CPAs, attorneys, and estate and financial planners
  • Detailed explanations of the various types of investment products and techniques that are most commonly used by individuals and businesses
  • Practice Points give concise advice on how to handle real-world issues
  • Having the right tax information helps avoid problems before they become costly mistakes, as well as correct problems when they do occur

New in the 2023 Edition:

  • Coverage of the Inflation Reduction Act, including credits for electric vehicles, and the new 15 percent corporate alternative minimum tax
  • Explanation of IRS guidance on the early termination of the employee retention tax credit
  • Discussion of a federal district court case in California where a judge denied a motion to dismiss a proposed class action lawsuit against Amazon that focuses on whether the company is required to reimburse the employees for expenses related to work-from-home requirements
  • Discussion of the ARPA’s expansion of the premium tax credit rules to provide a more generous Affordable Care Act benefits for 2022
  • Analysis of a Texas court’s decision that the DOL’s delay of the effective date for the Trump-era rule violated the Administrative Procedure Act by providing only a 19-day period for notice and comments
  • Explanation of a new rule that PayPal, Venmo and other third-party payment networks must report a taxpayer’s transactions in excess of $600 per year to the IRS
  • Update on the IRS’s FAQ that clarifies the filing and payment extensions applied regardless of whether the taxpayer was sick or quarantined because of COVID-19

Topics Covered:

  • Capital gains and losses
  • Tax issues related to business income
  • Passive and active business income
  • Estate planning issues for small business owners
  • Bad debt and worthless securities
  • Small business valuation issues
  • Buy-sell agreements
  • Casualty and theft losses for individuals and businesses
  • Nontaxable exchanges
  • And More! See the “Table of Contents” section for a full list of topics
Additional Information
SKU 3190023
Publication Date November 18, 2022
ISBN 978-1-954096-78-3
Page Count 798
Author Robert Bloink, Esq., LL.M. and William H. Byrnes, Esq., LL.M., CWM®
Edition 2023
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Robert Bloink

Prof. Robert Bloink worked to put in force in excess of $2 billion of death benefits for the insurance industry’s producers in the past five years. His insurance practice incorporates sophisticated wealth-transfer techniques, as well as counseling institutions in the context of their insurance portfolios and other mortality-based exposures. Prof. Bloink is a professor of tax for the Graduate Program of International Tax and Financial Services, Thomas Jefferson School of Law, San Deigo, CA.


Previously, Prof. Bloink served as Senior Attorney in the IRS Office of Chief Counsel, Large and Mid-Sized Business Division, where he litigated many cases in the US Tax Court, served as Liaison Counsel for the Offshore Compliance Technical Assistance Program, coordinated examination programs audit teams on the development of issues for large corporate taxpayers, and taught continuing education seminars to Senior Revenue Agents involved in Large Case Exams. In his governmental capacity, Prof. Bloink became recognized as an expert in the taxation of financial structured products and was responsible for the IRS’s first FSA addressing variable forward contracts. Mr. Bloink’s core competencies led to his involvement in prosecuting

some of the largest corporate tax shelters in the history of the United States.

William H. Byrnes, Esq., LL.M.

William Byrnes is the leader of National Underwriter's Financial Advisory Publications, having been appointed in 2010. He is a professor and an associate dean of Texas A&M University School of Law. He is one of the leading authors and best-selling authors in the professional markets​ with 30 books that have sold in excess of 100,000 copies in print and online, with thousands of online database subscribers. His National Underwriter publications include Tax Facts, Advanced Markets, and Sales Essentials.

Mr. Byrnes held senior positions of international tax for Coopers & Lybrand and has been commissioned and consulted by a number of governments on their tax and fiscal policy. He has served as an operational board member for companies in several industries including fashion, durable medical equipment, office furniture and technology. 

He pioneered online legal education in 1994. In 1998 he developed the first online program to achieve American Bar Association acquiescence. His Master, LL.M. and doctoral programs are leveraged by wealth managers, financial planners and life insurance underwriters.